Amblyopia Market To Catch Foster Growth till 2023 | Exclusive Analysis by MRFR with Top Key Acquisitions like Amblyoptica (Holding) Pty Ltd, Amblyotech, Inc, Good-Lite Co, Vivid Vision, Inc., Cooper Vision, Johnson & Johnson etc.

Market Insights

In the latest report on the global amblyopia market, published by Market Research Future (MRFR), it forecast that the market is anticipated to touch a substantial valuation over the review period, as it is likely to grow with a striking CAGR between 2017 and 2023.

Amblyopia, commonly known as lazy eye, is a vision impairment disorder, in which one or both the eyes have reduced or no vision. Amblyopia can begin during infancy or early childhood. Amblyopia requires detection and diagnosis early in childhood, which otherwise can lead to blindness during later life. On the basis of type, amblyopia can be divided into, Strabismic amblyopia, Refractive amblyopia, Deprivation amblyopia, and Reverse Amblyopia.

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Strabismic amblyopia is the most common type of amblyopia and is caused due to suppression of the deviating or misaligned eye. Refractive amblyopia is caused due to the unequal amount of refractive error between the two eyes. Deprivation amblyopia is the most severe form of amblyopia and matures when the visual axis is obstructed. If left untreated, this type can cause severe vision complications in the child. Additionally, this type is likely to affect both the eyes in early childhood. Reverse amblyopia is amblyopia of the sound eye. This can be caused due to aggressive amblyopia therapy, like the usage of an eye patch or atropine usually in early childhood. This type of amblyopia is uncommon and can be resolved by discontinuing the treatment.

Market Drivers and Barriers

The escalation in number of ophthalmic disorders cases is observed to surge the global amblyopia market. Amblyopia, generally known as lazy eye, mostly develops in childhood. The lack of awareness regarding the onset of amblyopia often leads to severe complications like blindness, with age. Hence, the growing number of undiagnosed incidences are likely to impel the global amblyopia market growth. Furthermore, this is triggering an urgency in the need for early diagnosis. Consequently, an upsurge in the market growth can be expected due to the availability of advanced ophthalmic diagnostic solutions. The market can also experience an amplified growth over the assessment period owing to the hike in per capita income and increase in medical assistance from the government.

The high cost of treatment due to limited treatment options can constraint the amblyopia market growth, despite the presence of such potent market drivers.

Key Players

• Amblyoptica (Holding) Pty Ltd,
• Amblyotech, Inc,
• Good-Lite Co,
• Vivid Vision, Inc.,
• Cooper Vision,
• Johnson & Johnson,
• Novartis AG.,
• Carl Zeiss AG,
• HOYA Corporation,
• Krafty Eye Patches¸
• Fresnel Prism and Lens Co.,
• Hilco Vision,
• McKesson Corporation

Segmental Analysis

The global amblyopia market study has been segmented on the basis of type, diagnosis, treatment, and end user.

Based on the type, the amblyopia market has been segmented into reverse amblyopia, strabismus amblyopia, deprivation amblyopia, and refractive amblyopia. Owing to the high prevalence of strabismus amblyopia, its segment is likely to proliferate at a rapid pace and register the highest CAGR in the review period.

Based on the diagnosis, the amblyopia market has been segmented into Bruckner Test, Visual Acuity Tests, and Photo Screening.

Based on the treatment, the amblyopia market has been segmented into video game, eye patches, glasses, and atropine drops.

Based on the end-use, the amblyopia market has been segmented into ophthalmic clinics, and hospitals and pharmacies.

Regional Outlook

Based on the region, the amblyopia market has been studied across Americas, Asia Pacific, Europe, and the Middle East and Africa.

In 2017, The American amblyopia market was worth USD 1,639.61 million, and by the end of 2023, it is projected to reach USD 2,043.96 million. The regional market is predicted to exhibit a CAGR of 3.20% during the forecast period. North America is augured to garner the largest market share with 78.7% for the American market.

The surge in the prevalence of ophthalmological malaises like macular degeneration, glaucoma, and cataract, and the availability of useful diagnostic aids are expected to shoot up the amblyopia market growth. Where North America can dominate the American amblyopia market, South America can demonstrate an escalated growth of the market in the coming years, due to the growing pediatric population.

Following the Americas, Europe accounted for the second largest market share due to hike in amblyopia cases. The Asia Pacific amblyopia market is anticipated to grow with 4.35% CAGR during the forecast period. The strong economy, numerous growth windows, the presence of a huge patient pool, and rapid technological advancements are factors contributing to the regional market growth. The low income is accounted for the Middle East and Africa market to hold the least market.

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This release was published on openPR.