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The amblyopia market is expected to gain a market value of USD 6.25 Billion by 2030 at a CAGR of 4.2% from 2022-2030.
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.
Major Key Players:
The major Amblyopia Market Players 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.
Segment Analysis
The global amblyopia market has been segmented on the basis of type, treatment, diagnosis, end-user, and region.
By types of amblyopia, 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.
Regional Analysis
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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