Global Amblyopia Drugs Market – Industry Trends and Forecast to 2029

Amblyopia Drugs Market Analysis and Size

The global amblyopia drugs market is expected to witness significant growth during the forecast period. Amblyopia occurs when there is a huge difference between the two eyes in their ability to focus. The most common cause of this diseased condition is other vision problems. Major market players in the global amblyopia drugs market are building their production capabilities due to rising hypermetropia and myopia globally. These efforts are assisting companies to fulfil the collective demand for prescription glasses needed for such eye disorders

Data Bridge Market Research analyses a growth rate in the global amblyopia drugs market in the forecast period 2022-2029. The expected CAGR of global amblyopia drugs market is tend to be around 3.50% in the mentioned forecast period. The market was valued at USD 3.6 billion in 2021, and it would grow upto USD 4.74 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Amblyopia Drugs Market Scope and Segmentation

Market Definition

Amblyopia is also termed as lazy eye syndrome, wherein reduced vision in one eye is caused by abnormal visual development very early in life. The disease usually developed from the onset of birth and up to 7 years. It is the primary cause of reduced vision among children. Rarely, lazy eye affects both eyes. The eye with poorer vision can generally be corrected with glasses or contact lenses, or sometimes with patching therapy.

Global Amblyopia Drugs Market Dynamics

Drivers

• Use of Pure Cotton Amblyopia Eye Patches

Pure cotton amblyopia eye patches for glasses are boosting the amblyopia drugs market. These products are particularly targeted for the treatment of strabismic amblyopia in children. All these products are being made accessible through e-commerce platforms to create revenue streams. Several manufacturers are manufacturing pure cotton amblyopia eye patches that prevent any stimulation contacting with the soft skin and contain hygienic properties. Thus, all these factors boost the growth of the market.

• Higher Demand of Hospitals

The rising demand of hospitals increase the market growth rapidly. Most chronic disease diagnostics are majorly carried out in hospitals as they are very complex in nature and it needs technologically advanced products and thus this is driving the market for hospital/clinical laboratories.

Opportunities

• Rising Incidence of Amblyopia

Amblyopia is quite frequent during childhood, with a global incidence ranging between 0.2% and 6.2%. As per the journal Karger International, the latest meta-analysis article projected 99.2 million people with amblyopia globally in 2019, possibly increasing to 175.2 million by 2030 and 221.9 million by 2040.

• Increasing Demand of Video Games as Treatment Option

Video games are evolving as an innovative treatment option for amblyopia. Investors in the amblyopia drugs market are growing awareness about the proper application of video games early in children by improving the connections between the brain and the eye. It has been seen that wearing an eye patch may not help the eyes to learn to work together, several companies in the amblyopia drugs market are growing their focus in video games to promptly appeal to the interest of children and parents.

Restraints/Challenges

• Lack of skilled professionals

The lack of qualified personnel who are unable to treat the patients with appropriate treatments could curb the growth of the North America persistent corneal epithelial defects treatment market over a forecast period.

• High Cost

The huge expenditure required for setting up these techniques hamper the market growth. Numerous market players make huge investment in developing new and advanced machines to faster the process and in return the cost is increased.

This global amblyopia drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global amblyopia drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Amblyopia Drugs Market

The American Academy of Ophthalmology (AAO) has recommended ophthalmologists to terminate providing non-urgent care during the ongoing pandemic. The institute has also provided a series of urgent and emergent procedures that is required to solve potential sight-threatening conditions. Such findings are affecting and prompting the growth of the amblyopia treatment market. Though eye diseases seldom carry a fatal outcome, potential morbidity in patients has obliged companies in the amblyopia drugs market to maintain constant supply chains of eye patches, eyeglasses, and other treatment options. Investors are gaining awareness about publications that share recommendations on treating eye diseases such as amblyopia during the COVID-19 outbreak. However, there is a need for more specific recommendations concerning to the amblyopia treatment.

Recent Development

• In November 2020, EYEBAB made a  distribution agreement with the American company Vivid Vision. This new agreement means that EYEBAB’s recognized vision training platform will now be accessible in the U.S. and Canadian distribution and will be made available to Vivid Vision’s large professional network globally.

Global Amblyopia Drugs Market

The global amblyopia drugs market is segmented on the basis of type, drugs, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Strabismic Amblyopia
• Refractive Amblyopia
• Deprivation Amblyopia
• Others

Drugs

• Atropine
• Others

End User

• Hospital/Clinical Laboratories
• Physician Offices
• Reference Laboratories
• Others

Distribution Channel

• Direct Tender
• Retail Sales
• Other

Global Amblyopia Drugs Market Regional Analysis/Insights

The global amblyopia drugs market is analyzed and market size insights and trends are provided by type, drugs, end-user and distribution channel as referenced above.

The major countries covered in the global amblyopia drugs market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America accounts for the largest market share due to the presence of key product manufacturers, high research and development, healthcare expenditure, and skilled professionals.

Asia-Pacific is dominating the market due to increased government awareness programs and number of generic drugs. 

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Amblyopia Drugs Market Share Analysis

The global amblyopia drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global amblyopia drugs market

Key players operating in the global amblyopia drugs market include:

• Novartis AG (Switzerland)
• Abbvie,Inc (U.S.)
• Bausch Health Companies Inc (Canada)
• Integra LifeSciences (U.S.)
• Alcon (U.S.)
• Astellas Pharma Inc. (Japan)
• Takeda Pharmaceutical Company Limited (Japan)
• Vertex Pharmaceuticals Incorporated (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Fresnel Prism and Lens Co (U.S.)
• Lancastle International Ltd (U.K.)
• Good-Lite (Scotland)
• RevitalVision (U.S.)
• Vivid Vision, Inc (U.S.)

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