The global amblyopia market was valued at USD 4,608.2 Million in 2019 and is projected to reach US$ 6,203.6 Million by 2027, expanding at a CAGR of 4.0% during the forecast period. Amblyopia occurs in early childhood when the brain favors only one of the eye due to improper stimulation between the brain and an eye nerve pathway.
The market is driven by factors such as increasing cases of ophthalmological disorders including refractive errors and cataracts across the globe. Moreover, favorable government funding for ophthalmology research is boosting market growth in developing countries such as India, Mexico, and China. Increasing demand for glasses and eye patches at economic costs is fueling growth of the global amblyopia market. Rising treatments pertaining to amblyopia has now extended beyond patching for youngsters and adults to help patients of any ages to get rid of diseases in the present scenario. Thus, consumers are now encouraged to avail for amblyopia treatments around the world.
Modern techniques including the introduction of electronic eyeglasses and lenses are considered as efficient medications of the treatment of amblyopia. These types of modern techniques increase consumer awareness and encourage them to adopt eyeglass, which can be used as part of fashion in correspondence with treatment.
Lack of awareness pertaining to amblyopia treatment and lack of strict government regulation regarding new treatment methods in developing regions challenges the growth of the amblyopia market. Lack of technological advancement and availability of resources restricts the growth of the market globally.
On the basis of treatment, the Global Amblyopia Market has been segmented into eye patches, atropine drops, glasses, video game, and others. The video game treatment segment is anticipated to expand at a CAGR of around 4.1% during the forecast period due to increasing awareness and technological advancements pertaining to the treatment. The eye patches segment is estimated to hold 35.9% share of the market in 2019, as it is a highly preferred treatment for amblyopia in hospitals and various eye care centers.
Based on end-users, the market has been divided into hospitals & pharmacies, ophthalmic clinics, and others. The hospitals & pharmacies segment is projected to hold a dominant share of the market during the forecast period due to easy availability of treatment facilities. Additionally, near ability and awareness about hospitals and pharmacies among end-users support significant share in the market, globally. The ophthalmic clinics segment is expected to grow at a substantial pace owing to the growing awareness regarding these centers among consumers. Moreover, increasing company focus on opening of new ophthalmic clinics is propelling the growth in the global amblyopia market. New and emerging players are focusing on this segment to withstand the competition in the global amblyopia market.
In terms of diagnosis, the global amblyopia market has been segregated into visual acuity tests, photo screening, Brücknertest, and others. The visual acuity tests segment account for a major share in the global amblyopia market, as it is a basic and mandatory test required before the amblyopia treatment. Increasing research & development and continuous improvements in the Brückner test is fueling the growth of this segment in the global amblyopia market.
Based on types, the market has been classified as strabismus amblyopia, strabismus amblyopia, refractive amblyopia, deprivation amblyopia, reverse amblyopia, and others. The strabismus amblyopia segment holds a key share of the amblyopia market. Moreover, this segment is estimated to expand at a significant CAGR during the forecast period due to increasing number of patients with strabismus amblyopia.
Deprivation Amblyopia: This is common type of amblyopia, which is developed when the visual axis is obstructed. In some patients this is caused by something that obstructs being focused on a baby's eye. Eyelid ptosis, cataracts, corneal opacities, vitreous hemorrhage and others are various causes of stimulus deprivation.
Refractive Amblyopia: Unequal refractive error in the eyes causes amblyopia. For example, one eye can have substantial uncorrected farsightedness or nearsightedness, while the other eye does not. In such cases the human relies on the eyes with fewer errors, causing amblyopia in that eye from disuse.
Reverse Amblyopia: This kind of amblyopia adversely affects binocularity, contrast sensitivity, grating acuity visual acuity, and central versus eccentric fixation.
Strabismus Amblyopia: Strabismus is a predominant cause of amblyopia. The brain lacks the visual feedback from the misaligned eye to prevent double vision caused by incorrectly aligned eyes, resulting in amblyopia in that eye. This type of amblyopia is called strabismus amblyopia. Strabismus amblyopia results from suppression of the deviating eye. Constant strabismus leads to more severe amblyopia than intermittent strabismus.
In terms of regions, the global amblyopia market has been fragmented into Europe, North America, Latin America, Asia Pacific and Middle East & Africa. North America is a promising region for the market. The region constituted 37.6% share of the market in 2019. The market in the region is anticipated to expand at a CAGR of ~3.1% during the forecast period. Significant market share of North America is attributed to the presence of advanced technologies in the medical industry. Moreover, easy availability of recourses supports the growth of key players and new entrance in the market in this region. Increasing number of amblyopia cases in Europe is driving the growth of the market in the region. High purchasing power among consumers in the region positively influences the growth of the market. The market in Asia Pacific region is expected to grow at a significant rate during the forecast period due to increasing availability of amblyopia treatment technologies in the region. Moreover, increasing penetration of new companies, through mergers and acquisitions, fuels the market in the region.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report covers treatment segment analysis.
According to this Growth Market Reports report, the market from amblyopia is likely to register a CAGR of 4.0% during forecast period between 2020 and 2027, with an anticipated valuation of US$ 6,203.6 million by the end of the 2027.
Market size (in US$ Million) and company market share (in % for base year 2019), other data such as COVID-19 impact on amblyopia market and regulatory outlook is available in the final report.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
Changing lifestyles and preferences, health awareness, medical industry advancement, introduction of new treatment methods, and increase in R&D expenditure by manufacturers for developing new amblyopia treatment equipment is expected to drive the market growth during forecast period.
Hospital & pharmacies and ophthalmic clinics are the key end-users that are driving the amblyopia market.
The market is expected to witness decline of over 2.3% between 2019 and due to the adverse impact of COVID 19 pandemic on supply chain of medical industry.
The base year considered for the global amblyopia market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017, 2018 are the historic years, 2019 is the base year and the forecast is provided from 2020 to 2027.
Major manufacturers include, Amblyotech, Good-Lite Co., VividVision, CooperVision Inc., and Johnson & Johnson
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