Next Generation Contact Lenses & Visual Prostheses Market worth $715.57 million by 2030, growing at a CAGR of 18.76% - Exclusive Report by 360iResearch

The "Next Generation Contact Lenses & Visual Prostheses Market by Product (Diagnostic or monitoring contact lenses, Drug-eluting contact lenses, Therapeutic contact lenses), Disease (Age-Related Macular Degeneration, Diabetes, Glaucoma) - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Next Generation Contact Lenses & Visual Prostheses Market to grow from USD 214.71 million in 2023 to USD 715.57 million by 2030, at a CAGR of 18.76%.

Request a Free Sample Report @ https://www.360iresearch.com/library/intelligence/next-generation-contact-lenses-visual-prostheses?utm_source=openpr&utm_medium=referral&utm_campaign=sample

Next generation contact lenses encompass a variety of advanced features and materials that enhance functionality beyond conventional vision correction. These include contact lenses designed with smart technology that may enable interactive visual overlays, health monitoring sensors, drug delivery systems, and improved comfort and vision through advanced materials or designs. Visual prostheses are medical devices designed to restore functional vision for individuals suffering from vision loss or impairment caused by conditions such as retinitis pigmentosa or age-related macular degeneration. These devices often work by bypassing damaged photoreceptors and directly stimulating the remaining functional parts of the visual system, including the retina, optic nerve, or visual cortex. Increasing an aging population, the rise in eye-related diseases, and the growing demand for non-invasive medical devices contribute to market expansion. However, high costs of development and production coupled with stringent regulatory requirements for medical device approval may impede market growth. Nevertheless, the development of smart contact lenses that monitor health indicators and the integration of AI algorithms to improve the functionality of visual prostheses with customization and 3D printing technologies to produce devices tailored to individual patients' needs is expected to create potential opportunities for the next generation contact lenses and visual prostheses market expansion.

The Americas region's high consumer awareness, strong economy, and insurance coverage for medical devices contribute to increased market demand. Interest in smart contact lenses with advanced features such as glucose monitoring and augmented reality has spurred several startups and R&D initiatives. Furthermore, there is an inclination towards advanced medical devices, with initiatives by both the private sector and academic institutions pushing forward innovative solutions in visual prostheses and enhanced ocular devices in the Americas. EU countries are witnessing a growing demand for advanced contact lenses due to increased activities related to digital screens and an aging populace. Regulatory directives such as the Medical Device Regulation (MDR) shape industry standards. Ongoing projects funded by the EU Framework Programmes for Research and Innovation showcase the commitment to cutting-edge ocular technology. The Middle East is gradually adopting these advanced medical devices, with a strong focus on luxury and quality. The region's healthcare investment is scaling, characterized by government initiatives to improve healthcare infrastructure. The Asia-Pacific region exhibits diverse market dynamics, with the region's large population base driving consumer needs for vision correction and protection, which is compounded by an aging demographic in certain countries. Smart contact lenses that cater to health monitoring and lifestyle needs are gaining popularity, and investments in the region are focused on leveraging manufacturing prowess to reduce costs and improve accessibility.

Market Segmentation & Coverage:

This research report categorizes the Next Generation Contact Lenses & Visual Prostheses Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Product, market is studied across Diagnostic or monitoring contact lenses, Drug-eluting contact lenses, Therapeutic contact lenses, and Visual prostheses. The Visual prostheses is further studied across Cortical Implant, Optic Nerve Implant, and Retinal Implant. The Therapeutic contact lenses commanded largest market share of 34.73% in 2023, followed by Diagnostic or monitoring contact lenses.

Based on Disease, market is studied across Age-Related Macular Degeneration, Diabetes, Glaucoma, and Retinitis pigmentosa. The Age-Related Macular Degeneration commanded largest market share of 23.03% in 2023, followed by Diabetes.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 37.33% in 2023, followed by Europe, Middle East & Africa.

Inquire Before Buying @ https://www.360iresearch.com/library/intelligence/next-generation-contact-lenses-visual-prostheses?utm_source=openpr&utm_medium=referral&utm_campaign=inquire

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Next Generation Contact Lenses & Visual Prostheses Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Next Generation Contact Lenses & Visual Prostheses Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Next Generation Contact Lenses & Visual Prostheses Market, highlighting leading vendors and their innovative profiles. These include ABB Optical Group, Alcon Vision LLC, Bausch & Lomb Incorporated, Bionic Vision Technologies, Chromagen Europe B.V., CooperVision, Inc., HOYA Corporation, INTEROJO CO. LTD., Johnson & Johnson Vision Care, Inc., Luneau Technology Operations SAS, Menicon Co., Ltd., Miami Contact Lens, Mojo Vision Inc., Nidek Co., Ltd., Novartis AG, Orion Vision Group, PERVICE CO., LTD., Pixium Vision SA, Sensimed SA, Spectrum International, STAAR Surgical Company, SwissLens S.A., SynergEyes, Inc., XPANCEO RESEARCH ON NATURAL SCIENCE L.L.C., and ZEISS Group.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Next Generation Contact Lenses & Visual Prostheses Market, by Product
7. Next Generation Contact Lenses & Visual Prostheses Market, by Disease
8. Americas Next Generation Contact Lenses & Visual Prostheses Market
9. Asia-Pacific Next Generation Contact Lenses & Visual Prostheses Market
10. Europe, Middle East & Africa Next Generation Contact Lenses & Visual Prostheses Market
11. Competitive Landscape
12. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Next Generation Contact Lenses & Visual Prostheses Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Next Generation Contact Lenses & Visual Prostheses Market?
3. What is the competitive strategic window for opportunities in the Next Generation Contact Lenses & Visual Prostheses Market?
4. What are the technology trends and regulatory frameworks in the Next Generation Contact Lenses & Visual Prostheses Market?
5. What is the market share of the leading vendors in the Next Generation Contact Lenses & Visual Prostheses Market?
6. What modes and strategic moves are considered suitable for entering the Next Generation Contact Lenses & Visual Prostheses Market?

Read More @ https://www.360iresearch.com/library/intelligence/next-generation-contact-lenses-visual-prostheses?utm_source=openpr&utm_medium=referral&utm_campaign=analyst

Contact 360iResearch

Mr. Ketan Rohom
Sales & Marketing,
Office No. 519, Nyati Empress,
Opposite Phoenix Market City,
Vimannagar, Pune, Maharashtra,
India - 411014.
sales@360iresearch.com
+1-530-264-8485
+91-922-607-7550

About 360iResearch

360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.

We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset - our people.

Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.

Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.

This release was published on openPR.