Published On : 12 Sep 2016
Wearable devices have captured every inch of the human body and eyes are the next target. Since past few years, the smart glasses have been changing the way eyes look. It’s the contact lenses segment that is currently taking people to a different sci-fi world. Talking about the vision for the near future, the technology for smart contact lenses might be in its initial development stages but it is expected to benefit the global contact lenses industry in the years to come. The smart contact lenses industry is set for a considerable growth, states a research report added by QYResearchReports.com to its database of research reports.
The report, titled “Global Smart Contact Lenses Market 2016 Industry, Analysis, Research, Share, Growth, Sales, Trends, Supply, Forecast to 2021,” defines smart contact lenses and focuses on its applications, classifications, and specifications. The report also briefs readers about the industry chain structure and development policies. Additionally, the report also highlights the changing trends in the market. For instance, Google was in the news recently for its new smart contact lenses. Google’s X spin, now named Verily, uses a radio antenna thinner and miniature sensor to track blood glucose level of the wearer. This motivated other companies operating in the global smart contact lenses industry to introduce their new products.
From simple looking contact lenses to smart wearable devices, the global market for contact lenses has gone way ahead since recent years. Contact lenses that track the temperature of the wearer or also records alcohol levels are currently trending in the global market. The global smart contact lenses industry is regionally divided into Europe, North America, South America, the Middle East, and Asia Pacific. Sensimed AG, Google, Samsung, Sony, and PEGL are the key companies operating in the global smart contact lenses industry.
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Prominent manufacturers of smart contact lenses are targeting to invest more in technology and research and development activities to innovate their already existing products. The rising government funding is also expected to motivate key companies to manufacture new contact lenses that match the changing trends and needs of the patrons.
Key companies in the market are featured in the report by considering factors such as company product portfolio and specifications. Industry standard tools such as the SWOT analysis are used to measure the strengths, weaknesses, opportunities, and threats of key companies. Advancements in the technology have helped companies to invest in new product launch. The feasibility of new projects is also studied in the report. For a detailed competitive analysis, regional coverage of key companies is studied by the analysts.
The report lists various research institutes that are currently working on improving the infrastructure for the production of new smart contact lenses. Ghent University, Belgium and KAIST are two of the research institutes listed in the report.
As per the findings of the report, the global market for smart contact lenses is predicted to be highly competitive owing to the entry of new players. Many startups are planning to enter the mainstream, which is expected to increase the product line in the global market.