The development of health monitoring and treatment technologies has recently attracted a great deal of interest due to advancements in wearable electronics and wireless communications. Many businesses have ventured into producing smart technologies, one of which is the smart contact lens, in response to the rising need for user-friendly health-assistive devices. Since the development of technology, contact lenses have been used for a variety of therapeutic and diagnostic purposes. Early studies in this field used opaque and fragile components to make electrical gadgets work, which interfered with the user’s field of view and could have hurt the user’s eyes in addition to being uncomfortable. Because they are comfortable for the user and have a high oxygen permeability, soft lenses made of poly (2-hydroxyethyl methacrylate), polyvinyl alcohol (PVA), polyacrylamide (PA), polyethylene terephthalate (PET), or polydimethylsiloxane (PDMS) are frequently used in the integration of sensing technology. The leading market players across the globe are highly investing into smart contact lenses for various applications. Recently, a U.S. manufacturer announced that it has completed the first functional prototype of a smart lens. The new gadget covers the entire eye, not just the pupil and iris, and is referred to as a “scleral” lens. The display, communications, and batteries have all been successfully incorporated into a small convex sheet, claim the device’s creators. The first generation will show visuals with a density of 14,000 pixels per inch in monochrome. Smart contact lenses use a range of technologies, including sensors, accelerometers, and display technology, to create an immersive AR/VR experience or to detect certain biometrics from tears depending on metabolites, enzymes, vitamins, salts, and proteins. Smart contact lenses market has been gaining a lot of attention over the past few years, with companies such as Google, Sony and Samsung all developing their own variants.
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Many substances, including proteins, lipids, electrolytes, urea, ascorbic acid, L-lactic acid, cholesterol, and other important metabolites, can be found in human tears. Moreover, tears and blood have a lot of the same chemical components. Real-time monitoring of these chemicals’ concentrations offers crucial physiological insight for enhancing the treatment and prevention of specific disorders. Due to the rising cases of diabetes amongst huge population, smart contact lenses are highly being used for the noninvasive detection of glucose levels for the diagnosis of diabetes which has been researched extensively to replace traditional invasive diagnostic procedures (such as finger pricking for blood collection). A glucose sensor attached to a contact lens can provide noninvasive glucose monitoring of a user’s levels from tear fluids by taking into account the correlation between the tear glucose level and blood glucose level, taking into account the lag time between tear glucose level and blood glucose level in the range of 10 to 20 min. Thus, due to the ease of monitoring, the smart contact lenses market is experiencing huge growth across various applications.
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Asia Pacific region is anticipated to be the fastest growing in the smart contact lens market during the forecast period 2023-2031. Due to the rising cases of glaucoma and diabetes, there has been rise in the demand for smart contact lenses. Moreover, research organizations and institutes are introducing various smart contact lenses. For instance, in February 2023, IOP measurement and medicine administration in glaucoma patients managed by a research team at Pohang University of Science and Technology (POSTECH) in South Korea merged an intraocular pressure (IOP) sensor and a flexible drug delivery system into a smart contact lens. It is anticipated that the new smart contact lens would enable individualized glaucoma treatment with optimum efficacy and lowest adverse effects. In addition, the feedback system would be usable with a variety of different wearables besides smart contact lenses. Thus, in the upcoming years with advancements and incorporation of advanced technologies the smart contact lenses market will boom.
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Global Smart Contact Lenses Market Competitors:
- Beneficial Vision.
- EP Global Communications, Inc
- Innovega Inc
- InWith Corporation
- Medella Health
- Raayonnova LLC
- Samsung Electronics Co Ltd
- Sensimed AG
- Sony
- Other Industry Participants
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Global Smart Contact Lenses Market
By Application
- Medical Treatment
- Allergy relief
- Corneal Injury
- Eye conditions
- Others
- Healthcare Monitoring
- Augmented and mixed reality
- GPS Navigation
- Others
By End Users
- Individuals
- Hospitals and Clinics
- Research Organizations
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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