Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!

What is the Predicted Annual Growth Rate of the Smart Contact Lenses Market Over the Coming Decade?

In recent years, the market size of smart contact lenses has witnessed swift expansion. The sector, valued at $5.25 billion in 2024, is projected to grow to $5.87 billion in 2025, marking a compound annual growth rate (CAGR) of 11.9%. The historical growth can be credited to increasing occurrence of vision problems and eye conditions, heightened demand for real-time health surveillance and diagnostic services, growing cognizance about the advantages of smart contact lenses, proliferating uses in healthcare applications and medical diagnostics, and a boost in research and development endeavors.

The market for smart contact lenses is projected to experience a significant rise in the upcoming years, escalating to $8.61 billion by 2029 with a compound annual growth rate (CAGR) of 10.0%. Factors contributing to this surge during the forecast period are increasing requirements for tailored healthcare solutions, an expanding elderly demographic coupled with an increase in vision issues relating to age, more frequent usage of wearable technology for health and lifestyle tracking, a growing preference for non-invasive health checks, as well as emerging markets and untapped resources in developing areas. Key trends during this forecast period encompass the incorporation of augmented reality (AR) and virtual reality (VR) technologies, advancements in the field of microelectronics and miniaturization, persistent innovation in the smart contact lens technology, improved connectivity features, and Internet of Things (IoT) incorporation.

Which Factors Are Enhancing the Growth of the Smart Contact Lenses Market?

The smart contact lens market is anticipated to grow due to the rising incidence of glaucoma. This medical condition consists of a set of eye diseases marked by an increase in intraocular pressure, causing damage to the optic nerve and potentially leading to blindness if not addressed in a timely manner. The use of smart contact lenses can improve the management of glaucoma by continually monitoring intraocular pressure, thereby offering continuous data that aids in better disease management and early intervention. For instance, in October 2022, the BrightFocus Foundation, a nonprofit organization based in the United States, reported that there are approximately 80 million people worldwide currently diagnosed with glaucoma and this is projected to rise to over 111 million by the year 2040. Thus, the surging prevalence of glaucoma is set to spur the expansion of the smart contact lens market.

Get Your Free Sample of the Global Smart Contact Lenses Market Report Now!

https://www.thebusinessresearchcompany.com/sample.aspx?id=13932&type=smp

What Are the Major Players Making an Impact in the Smart Contact Lenses Market’s Growth?

Major companies operating in the smart contact lenses market report are:

• Google LLC_x000D_

• Johnson & Johnson_x000D_

• Huawei Technologies Co._x000D_

• Ltd_x000D_

• Hitachi Ltd._x000D_

Which Upcoming Trends Are Set to Influence the Smart Contact Lenses Market’s Path Forward?

Prominent firms in the smart contact lens market are pioneering innovative technologies, such as augmented reality contact lenses, to provide customers with enhanced features. These lenses function as wearable technology, embedding augmented reality features directly into the contact lenses. To illustrate, in March 2022, Mojo Vision, a company based in the US known for creating high-performance micro-LED display technology, developed the Mojo Lens. This product, as conceptualized by the company, is designed to usher invisible computing into reality. This groundbreaking smart contact lens prototype includes multiple cutting-edge hardware components and technologies effortlessly merged into the lens structure, improving its display, communication capabilities, eye tracking features, and power system. Interestingly, this latest evolution includes primary operating system code and user experience elements for the first time, indicating significant potential for comprehensive development and testing of key customer and partner applications.

Get Instant Access to the Global Smart Contact Lenses Market Report with Swift Delivery!

https://www.thebusinessresearchcompany.com/report/smart-contact-lenses-global-market-report

What Are the Major Categories and Their Growth Dynamics in the Smart Contact Lenses Market?

The smart contact lenses market covered in this report is segmented –

1) By Type: Daily Wear Soft Lenses, Extended-Wear, Planned Replacement, Rapid Gas Permeable (RGP), Other Types

2) By Application: Intraocular Pressure Monitoring, Continuous Glucose Monitoring

3) By End User: Hospitals, Ophthalmology Clinics, Other End Users

Subsegments:

1) By Daily Wear Soft Lenses: Daily Disposable Lenses, Weekly Disposable Lenses, Monthly Disposable Lenses

2) By Extended-Wear: Continuous Wear Lenses, Extended Wear Soft Lenses

3) By Planned Replacement: Biweekly Lenses, Monthly Lenses

4) By Rapid Gas Permeable (RGP): Traditional RGP Lenses, Specialty RGP Lenses

5) By Other Types: Scleral Lenses, Orthokeratology Lenses, Multifocal Lenses

What Regions Are Steering Growth in the Smart Contact Lenses Sector?

North America was the largest region in the smart contact lenses market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart contact lenses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Can We Define the Smart Contact Lenses Market and Its Key Components?

Smart contact lenses are advanced eye-wearable devices that combine vision correction with health monitoring, fitness tracking, augmented reality displays, and drug delivery, potentially transforming personal healthcare and enhancing daily life through real-time data and interactive experiences.

Browse Through More Similar Reports By The Business Research Company:

Smart Watch Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/smart-watch-global-market-report

Smart Air Purifier Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/smart-air-purifier-global-market-report

Smart Life Sciences Manufacturing Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/smart-life-sciences-manufacturing-global-market-report

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: