Market Size –
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 growth in the historic period can be attributed to a rise in the incidence of ophthalmological illnesses, rise in consumer demand for affordable glasses, the prevalence of hyperopia and myopia, an increased 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 rise of digital health platforms, increasing availability of resources and support for parents, growing emphasis on preventive healthcare for children, increasing awareness about amblyopia, and the proliferation of specialized eye care centers and clinics. Major trends in the forecast period include technological advancements in diagnostics, the development of new treatment modalities, advances in the understanding of visual development, discoveries in neuroplasticity, and the development and approval of new drugs.
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Scope Of Amblyopia Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Amblyopia Market Overview
Market Drivers –
The rise in the incidence of ophthalmological illnesses is expected to propel the growth of the amblyopia market going forward. Ophthalmological illnesses are disorders affecting the eyes, which can range from common issues such as cataracts and glaucoma to rare conditions such as retinitis pigmentosa and ocular tumors. The rise in ophthalmological illnesses is due to increased screen time, aging populations, and environmental factors such as pollution. Amblyopia can lead to ophthalmological illnesses by causing the brain to ignore input from the weaker eye, potentially resulting in permanent vision impairment and issues with depth perception if untreated. For instance, in January 2024, according to the Centers for Disease Control and Prevention, a US-based science and data-driven service organization that protects the public’s health, over 3.4 million Americans aged 40 years and older were blind or visually impaired, which is expected to double by 2030. Therefore, the rise in the incidence of ophthalmological illnesses drives the growth of the amblyopia market.
Market Trends –
Major companies operating in the amblyopia market are focusing on technological advancements in treatment, such as digital therapeutics, to better serve customers. A digital therapeutic is an evidence-based therapeutic intervention driven by high-quality software programs to prevent, manage, or treat a medical disorder or disease. It uses behavioral and lifestyle changes, often spurred by digital impetuses, to improve health outcomes and can be used as a standalone therapy or in conjunction with conventional treatments. For instance, in September 2021, Luminopia Inc., a US-based biotechnology company developing a digital therapeutic, announced the FDA approval of its digital therapeutic, Luminopia One. This innovative treatment utilizes televisions (TV) shows to improve vision in children diagnosed with amblyopia. Luminopia’s treatment is the first FDA-approved digital therapeutic for a neuro-visual disorder in children and the first to use TV shows as a treatment for amblyopia. The efficacy of the treatment was confirmed in a phase 3 pivotal trial involving 105 children. The results showed a statistically significant improvement in visual acuity in the treatment group compared to the control group. On average, the treatment group showed an improvement of 1.8 lines, while the control group showed an improvement of 0.8 lines. Moreover, 62% of patients in the treatment group exhibited a strong response, defined as a 2-line or greater improvement, compared to 33% in the control group.
The amblyopia market covered in this report is segmented –
1) By Disease Type: Strabismus Amblyopia, Refractive Amblyopia, Deprivation Amblyopia, Reverse Amblyopia
2) By Diagnosis: Visual Acuity Tests, Photo Screening, Bruckner Test, Other Diagnosis
3) By Treatment: Eye Patches, Atropine Drops, Glasses, Video Games, Other Treatments
4) By End User: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
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Regional Insights –
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.
Key Companies –
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 Optikgeräte 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
Table of Contents
1. Executive Summary
2. Amblyopia Market Characteristics
3. Amblyopia Market Trends And Strategies
4. Amblyopia Market – Macro Economic Scenario
5. Global Amblyopia Market Size and Growth
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31. Amblyopia Market Other Major And Innovative Companies
32. Global Amblyopia Market Competitive Benchmarking
33. Global Amblyopia Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Amblyopia Market
35. Amblyopia Market Future Outlook and Potential Analysis
36.Appendix
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