(MENAFN- GlobeNewsWire - Nasdaq) Farmington, May 10, 2023 (GLOBE NEWSWIRE) -- The Global amblyopia market size was valued at USD 4.61 billion in 2022 and is projected to reach USD 6.5 billion by 2030, growing at a CAGR of 4.20% from 2023 to 2030. Many healthcare providers globally are increasing the use of video games as one of the prominent and innovative way of treatment for amblyopia. Moreover, players in the global amblyopia treatment market focused on spreading awareness on the use of video games as a treatment during the early age in children so that their brain can work with the weaker eye by developing improved connections between the eye and the brain. Such innovations are expected to serve as a key driver in the global amblyopia treatment market.
Request Sample Copy of Report “amblyopia market size, share& trends estimation reports by type outlook (cloud, on-premises),by component outlook( strabismus amblyopia, refractive amblyopia, deprivation amblyopia, reverse amblyopia),by application outlook(hospitals & pharmacies, ophthalmic clinics), by organization size outlook (visual acuity tests, photo screening, bruckner test, others),by region and forecasts,2023-2030. published by Contrive Datum Insights.
Segmentation Overview:
Amblyopia is also known as indolent eye or unchanging blurred vision. Vision impairment in one eye caused by abnormal visual development from birth to age seven. Early detection is crucial because earlier treatment is more effective. The treatment consists of a glass eye cover.
The global prevalence of hyperopia and myopia, as well as refractive errors and cataracts, drive the amblyopia market. In addition, favourable government funding for ophthalmic research drives market expansion in developing nations like Mexico, India, and China. The growth of the amblyopia market is fuelled by the growing availability of inexpensive eye coverings and glasses. In addition, the growing importance of ophthalmologists for regular check-ups to evaluate the effectiveness of prescription eyeglasses in enhancing vision is anticipated to create growth opportunities in the global amblyopia treatment market. However, a lack of awareness regarding amblyopia treatment and the absence of stringent government regulations for new treatment methods in developing nations are impeding the expansion of the global amblyopia market. In addition, the lack of available resources and technological advancements limit market expansion.
Segmental Outlook
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.
Regional Analysis:
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.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 4.2% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 6.5 Billion |
| By Type | Strabismus amblyopia Refractive amblyopia Deprivation amblyopia Reverse amblyopia |
By Diagnosis
| Visual acuity tests Photo screening Bruckner test Others |
| By Application | Hospitals & pharmacies Ophthalmic clinics |
| By Organization Size | Hospitals & pharmacies Ophthalmic clinics |
| By Treatment | Eye patches Atropine drops Glasses Video game Others |
| By Companies | Amblyopia (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 |
| Regions and Countries Covered | North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World |
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics
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.
Opportunity Analysis:
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Key Segments Covered:
Top Market Players:
Amblyopia (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
By Deployment Type
Strabismus amblyopia Refractive amblyopia Deprivation amblyopia Reverse amblyopia
By Diagnosis
Visual acuity tests Photo screening Bruckner test Others
By Industries
Government Healthcare Others
By Treatment
Eye patches Atropine drops Glasses Video game Others
Regions and Countries Covered
North America: (US, Canada, Mexico, Rest of North America) Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America: (Brazil, Argentina, Rest of Latin America) Rest Of the World
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