Amblyopia, also called lazy eye, is an eye disorder which results in decreased vision in one or both the eyes due to suppressed input from the brain. Amblyopia is mainly caused due to muscle imbalance or refractive error in one or both the eyes. Amblyopia is also caused if the infant is already born with cataract which causes cloudy images and the prevalence rate is 2 to 3 % among the infants.
The global Amblyopia Market Trends is presumed to expand at 3.80 % CAGR during the forecast period owing to the increasing prevalence of ophthalmological disorders, asserts Market Research Future (MRFR).
Drivers and Constraints Impacting the Market
There are mainly four types of amblyopia such as reverse amblyopia, refractive amblyopia, deprivation amblyopia, and strabismus amblyopia. The global amblyopia market is mainly driven by the increasing prevalence of ophthalmological disorders like glaucoma, cataracts, macular degeneration, and refractive errors. With the increasing prevalence of such disorders, there has been a noticeable increase in the treatment methodology, thereby influencing the market growth. Moreover, with increasing support from the government coupled with growing per capita income, the market is likely to prosper during the assessment period.
On the flip side, the high cost coupled with limited treatment options is anticipated to retard the market growth in the coming years.
Major Key Players:
The major players operating the global amblyopia market are McKesson Corporation, Johnson & Johnson, Vivid Vision Inc., Good-Lite Co, Carl Zeiss AG, Amblyotech Inc, Novartis AG., Amblyoptica (Holding) Pvt. Ltd, HOYA Corporation, Krafty Eye Patches¸ Fresnel Prism and Lens Co., Hilco Vision, Cooper Vision, and more.
The global amblyopia market has been segmented on the basis of type, amblyopia treatment, diagnosis, end-user, and region.
By mode of type, the global amblyopia market has been segmented into strabismus amblyopia, reverse amblyopia, deprivation amblyopia, refractive amblyopia, and others. Among these, strabismus amblyopia is the most common type and is mainly caused due to suppression of the misaligned or deviating eye.
By mode of diagnosis, the global amblyopia market has been segmented into photo screening, visual acuity tests, Bruckner test, and others.
By mode of treatment, the global amblyopia market has been segmented into video game, atropine drops, glasses, eye patches, and others. Among these, eye patches hold the largest market share and are anticipated to expand at 3.93 % CAGR during the assessment period.
By mode of end-users, the global amblyopia market has been segmented into ophthalmic clinics, hospitals & pharmacies, and others.
Geographically, the amblyopia market span across regions namely, Europe, America, Asia Pacific, and the Middle East and Africa.
Among all the regions, America accounts for the largest market share owing to increasing prevalence of ophthalmological disorders such as macular degeneration, cataract, and glaucoma, growth in technological advancements, presence of key market players, and high expenditure on healthcare.
Europe is considered to be the second largest market followed by Asia Pacific which is presumed to expand at the fastest rate with 4.35 % CAGR during the assessment period. The growth is attributed to the continuously growing economies, rapid technological development, presence of huge patient population, and high opportunity for development in this region.
On the other hand, the Middle East and Africa are considered to register a sluggish growth rate and account for the least market share during the review period owing to low income among the population.
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