PUBLISHER: The Business Research Company | PRODUCT CODE: 1531866
PUBLISHER: The Business Research Company | PRODUCT CODE: 1531866
Amblyopia, commonly referred to as lazy eye, is a condition affecting the development of vision where one eye does not achieve normal visual acuity, even with corrective eyewear such as glasses or contact lenses. Typically beginning in infancy or early childhood, amblyopia occurs due to a lack of proper coordination between the eye and the brain. As time progresses, the brain starts to favor the eye with better vision, leading to further deterioration of the weaker eye.
There are several types of amblyopia strabismus amblyopia, refractive amblyopia, deprivation amblyopia, and reverse amblyopia. Strabismus amblyopia results from misalignment of the eyes, causing a discrepancy in visual acuity between them. Diagnosis involves visual acuity tests, photo screening, Bruckner tests, and others. Treatment options include the use of eye patches, atropine drops, corrective glasses, and sometimes even therapeutic video games. Amblyopia affects diverse sectors including hospital pharmacies, retail pharmacies, and online pharmacies.
The amblyopia market research report is one of a series of new reports from The Business Research Company that provides amblyopia market statistics, including amblyopia industry global market size, regional shares, competitors with a amblyopia market share, detailed amblyopia market segments, market trends and opportunities, and any further data you may need to thrive in the amblyopia industry. This amblyopia market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The amblyopia market size has grown steadily in recent years. It will grow from $4.45 billion in 2023 to $4.65 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The increase during the historical period can be credited to a rise in ophthalmic disorders, growing consumer demand for affordable eyewear, the prevalence of hyperopia and myopia, a larger elderly population, and increased adoption of telemedicine.
The amblyopia market size is expected to see steady growth in the next few years. It will grow to $5.59 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to the expansion of digital health platforms, increased availability of resources and parental support, greater focus on preventive healthcare for children, rising awareness about amblyopia, and the proliferation of specialized eye care centers and clinics. Key trends anticipated in this period include advancements in diagnostic technologies, development of novel treatment approaches, progress in understanding visual development and neuroplasticity, as well as the introduction and approval of new pharmaceuticals.
The increasing incidence of ophthalmological diseases is expected to drive growth in the amblyopia market moving forward. Ophthalmological diseases encompass a spectrum of disorders affecting the eyes, ranging from common ailments such as cataracts and glaucoma to rarer conditions such as retinitis pigmentosa and ocular tumors. Factors contributing to the rise in these diseases include increased screen time, aging populations, and environmental factors such as pollution. Amblyopia, in particular, can exacerbate ophthalmological conditions by causing the brain to disregard input from the weaker eye, potentially leading to permanent vision impairment and issues with depth perception if left untreated. According to the Centers for Disease Control and Prevention (CDC), over 3.4 million Americans aged 40 years and older were blind or visually impaired in January 2024, a number expected to double by 2030. Therefore, the escalating prevalence of ophthalmological diseases is a key driver behind the growth of the amblyopia market.
Major companies in the amblyopia market are prioritizing advancements in treatment technologies, such as digital therapeutics, to better cater to patients. Digital therapeutics are evidence-based interventions driven by sophisticated software programs aimed at preventing, managing, or treating medical disorders or diseases. They leverage behavioral and lifestyle changes, often facilitated by digital platforms, to enhance health outcomes and can be used independently or alongside traditional therapies. For instance, Luminopia Inc., a US-based biotechnology company, achieved FDA approval in September 2021 for its digital therapeutic, Luminopia One. This innovative treatment utilizes television shows to enhance vision in children diagnosed with amblyopia, marking the first FDA-approved digital therapeutic for a neuro-visual disorder in children and the first to employ TV shows as a treatment for amblyopia. Results from a phase 3 pivotal trial involving 105 children demonstrated a statistically significant improvement in visual acuity among those receiving treatment compared to controls, with an average improvement of 1.8 lines versus 0.8 lines, respectively. Furthermore, 62% of treated patients exhibited a robust response, defined as a 2-line or greater improvement, compared to 33% in the control group.
In October 2022, Sumitomo Corporation, a Japan-based electrical services company, partnered with Juntendo University to develop a virtual reality (VR) app for amblyopia treatment. This app aims to enhance treatment engagement and efficacy by making therapy more interactive and enjoyable for children. Juntendo University, a prominent private university in Japan, is collaborating to leverage VR technology in optimizing amblyopia treatment protocols.
Major companies operating in the amblyopia market are Novartis AG, Takeda Pharmaceutical Company Limited, Biocon Limited, Astellas Pharma Inc., Alcon Vision LLC, Bausch Health Companies Inc., HOYA Corp., UnityPoint Health, Integra LifeSciences, Wockhardt Ltd., Welch Allyn, Heidelberg Engineering Inc., Orbis International, Oculus Optikgerate GmbH, Ocutrx Vision Technologies LLC, AccuVision, Vivid Vision Inc., Fresnel Prism and Lens Co., RevitalVision, WOW Vision Therapy, Lancastle International Ltd., Novasight, Eyenovia Inc., Adaptica Srl, AmblyoPlay
North America was the largest region in the amblyopia market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the amblyopia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the amblyopia market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The amblyopia market consists of revenues earned by entities by providing services such as screening and diagnosis, vision therapy, patching therapy, and orthoptic services. The market value includes the value of related goods sold by the service provider or included within the service offering. The amblyopia market also includes sales of contact lenses, vision therapy software, lighting products, bangerter filters, and spectacle lenses. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Amblyopia Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on amblyopia market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for amblyopia ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The amblyopia market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.