Google Inc (GOOGL) and Novartis AG (ADR) (NVS) Join Hands to Develop Smart Contact Lenses

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Tech giants are now focusing excessively on wearables that can help users to track health-related issues. According to a report by Bloomberg, Google Inc (NASDAQ:GOOGL) and Novartis AG (ADR) (NYSE:NVS) now have a deal according to which both companies will work on smart contact lenses that will help in tracking blood-sugar levels for people suffering from diabetis, and improving eye-sight in an innovative way. Novartis AG (ADR) (NYSE:NVS) is a Swiss multinational pharmaceutical company based in Basel, Switzerland, which has top sales records under its belt.

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Experts think that these smart lenses will be a game changer in the field of diabetic treatment because the diabetic patients have to prick their fingers numerous times in a day to keep a track of their blood glucose levels. Novartis AG (ADR) (NYSE:NVS) claimed that that contact lenses will measure glucose in tear fluid and send the data wirelessly to a mobile device. Google Inc (NASDAQ:GOOGL) has taken this step in order to boost its efforts to cope up with Apple Healthbook, an iOS 8 hallmark feature that will equip its users with complete health kit to maintain and track health related attributes using smart software and hardware devices.

According to a survey, Diabetes effect more than 382 million people throughout the world each year. If the deal between Google Inc (NASDAQ:GOOGL) and Novartis AG (ADR) (NYSE:NVS) goes well, it will allow both the companies to cease a stronghold in the blood-sugar tracking market that is expected to be worth more than $12 billion by 2017.

The other amazing feature of these smart lenses will be the auto focusing of sight, which will help the people with sight issues to have a clear and refined look without glasses. This will be a huge breakthrough in the eye-health sector as most people avoid surgeries and laser treatments for the correct of eye-sight. Google Inc (NASDAQ:GOOGL) and Novartis AG (ADR)(NYSE:NVS) will launch further details of this deal in the coming weeks.

Disclosure: None

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