Urgent, Emergent Procedural Recommendations Referred by Ophthalmologists during COVID-19 Pandemic
The American Academy of Ophthalmology (AAO) has recommended ophthalmologists to cease providing non-urgent care during the ongoing coronavirus pandemic. The institute has also provided a list of urgent and emergent procedures required to solve potential sight-threatening conditions. Such findings are affecting and influencing the growth of the amblyopia treatment market.
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Though eye diseases seldom carry a fatal outcome, potential morbidity in patients has compelled companies in the amblyopia treatment market to maintain steady supply chains of eye patches, eyeglasses, and other treatment options. Stakeholders are gaining awareness about publications that are sharing recommendations on how to treat eye diseases such as amblyopia during the COVID-19 outbreak. However, there is a need for more specific recommendations pertaining to the amblyopia treatment.
Unwanted Side Effects from Atropine Sulfate Eye Drops Demand Increased R&D
The amblyopia treatment market is expected to grow at a CAGR of 3.7% during the forecast period. Atropine sulfate eye drops are popular for the treatment of amblyopia and other eye conditions, including cycloplegia. However, it has been found that these eye drops may cause unwanted side effects such as blurred vision, difficulty seeing at night, and eye pain, among others. Hence, pharmaceutical companies are gaining a strong research base in eye drop formulations that lead to minimum side effects in patients.
Apart from eye drops, manufacturers in the amblyopia treatment market are increasing their production capabilities in eye patches. However, in many cases, adhesive eye patches are not well tolerated in children, leading to a rash. For this, atropine sulfate eye drops are emerging as an alternative treatment and is compelling manufacturers to improve eye drop formulations.
Use of Pure Cotton Amblyopia Eye Patches for Strabismic Amblyopia Treatment
Pure cotton amblyopia eye patches for glasses are storming the amblyopia treatment market. Such products are specially targeted for the treatment of strabismic amblyopia in children. These products are being made available through eCommerce platforms to create revenue streams. Manufacturers are designing pure cotton amblyopia eye patches that prevent any stimulation contacting with the soft skin and contain hygienic properties.
In order to meet the aesthetic requirements of children dealing with strabismic amblyopia, manufacturers are designing cute cartoons on pure cotton eye patches that can be washed repeatedly and help save costs.
Ophthalmologists Weigh Effectiveness of Prescription Glasses to Improve Patient Outcomes
Due to the immense differences between prescriptions of both the eyes, eye glasses are often unable to improve the vision of amblyopia patients. This is stressing on the need for R&D investments to improve eye glasses. On the other hand, parents are referring to publications that help understand the basics of amblyopia and its recommended glasses to improve the vision of their children.
Companies in the amblyopia treatment market are boosting their output capacities in prescription glasses meant for children suffering from myopia or hypermetropia. Ophthalmologists are recommending regular checkups to gauge the effectiveness of prescription glasses in order to improve eye vision. Such recommendations are leading to better outcomes, improved feedback, and innovations in design of prescription glasses.
Are Video Games Better as Amblyopia Treatment Option Than Eye Patches?
Video games are emerging as an innovative treatment option for amblyopia. Stakeholders in the amblyopia treatment market are increasing awareness about proper application of video games at an early age in children to be able to get their brain to work with the weaker eye by improving the connections between the brain and the eye. Since wearing an eye patch may not help the eyes to learn to work together, companies in the amblyopia treatment market are increasing their focus in video games to instantly appeal to the interest of children and parents.
amblyopia treatment market segmentation
Limitations in providing non-urgent care to amblyopia patients is affecting the amblyopia treatment market growth amid COVID-19 outbreak. As such, stakeholders are focusing on eCommerce and development of company owned websites to increase sales of pure cotton eye patches and prescription glasses to make available treatment options for strabismic amblyopia patients. However, there is a need to improve formulations in eye drops due to the potential incidence of unwanted side effects such as increased sensitivity of the eyes to sunlight and blurred vision. Companies in the amblyopia treatment market should increase their R&D to improve eye drop formulations, since children with poor outcomes owing to eye patches are also dependent on atropine sulfate eye drops and ointments.
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Amblyopia Treatment Market: Overview
Amblyopia, also known as lazy eye disease, commonly affects young children under the age of four. It occurs when the vision in one eye does not develop properly, causing the child to rely on the other, stronger eye.
Lazy eye results from other eye conditions that affect vision, such as a squint, congenital cataract, severe farsightedness, or nearsightedness
The four types of amblyopia are deprivation amblyopia, refractive amblyopia, strabismic amblyopia, and others
Rise in prevalence of amblyopia and launch of technologically advanced products are projected to drive the global amblyopia treatment market
Amblyopia Treatment Market: Key Drivers
Increase in the number of cases of amblyopia propels the global amblyopia treatment market. Amblyopia is quite common during childhood, with a global prevalence ranging between 0.2% and 6.2%. According to a journal published in Karger International, the latest meta-analysis article estimated 99.2 million people with amblyopia across the world in 2019, which is likely to increase to 175.2 million by 2030 and 221.9 million by 2040.
Major players focus on launch of technologically advanced products for treatment of amblyopia. This is anticipated to augment the global amblyopia treatment market during the forecast period. In March 2021, NovaSight received the Food and Drug Administration 510(k) clearance for CureSight for the treatment of amblyopia. The device trains the brain to use both eyes simultaneously, while the user watches videos through 3D glasses.
Amblyopia Treatment Market: Segmentation
In terms of type, the global amblyopia treatment market has been classified into deprivation amblyopia, refractive amblyopia, strabismic amblyopia, and others
Based on treatment, the global amblyopia treatment market has been categorized into eye patches, eye drops, eye glasses, video games, and others
Each of the segments has been analyzed in detail for amblyopia treatment trends, recent trends & developments, drivers, restraints, opportunities, and useful insights. The amblyopia treatment market report provides current and future revenue (US$ Mn) for each of these segments for the period from 2017 to 2031, considering 2020 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2021 to 2031 along with market size estimations.
Amblyopia Treatment Market: Regional Overview
In terms of region, the global amblyopia treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.
North America accounted for the largest share of the global amblyopia treatment market in 2020, and the trend is projected to continue during the forecast period. Growth of the amblyopia treatment market in the region can be ascribed to the presence of major players, significant healthcare expenditure, early availability of new techniques, and increase in research activities.
Asia Pacific is anticipated to gain market share during the forecast period. Product launches, acquisitions, distribution agreements, alliances, and geographical expansion by local players, especially in China and India, are expected to propel the amblyopia treatment market in the region.
The current and future market sizes in terms of value (US$ Mn) of these regional markets and major countries have been provided in the report for the period from 2017 to 2031, along with CAGRs for the period from 2021 to 2031
The study also offers a list of recommendations, highlights, and useful insights of the market, which are estimated to help new companies willing to enter the market and existing companies to increase market share and in the decision-making process
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The report concludes with the company profiles section that includes key information about the major players in the global amblyopia treatment market
Leading players analyzed in the report are
- Vivid Vision, Inc.
- Hilco Vision
- Krafty Eye Patches
- Fresnel Prism and Lens Co.
- Lancastle International Ltd.
- Amblyoptica (Holding) Pty Ltd.
- HOYA Vision Care Company
Each of these players has been profiled in the report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments
Key Questions Answered in Amblyopia Treatment Market Report
- What is the sales/revenue generated by amblyopia treatment across all regions during the forecast period?
- What are the opportunities in the global amblyopia treatment market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which regional market is set to expand at the fastest CAGR during the forecast period?
- Which type is expected to generate the highest revenue globally in 2031? Which segment is projected to expand at the highest CAGR during the forecast period?
- What is the market position of different companies operating in the global market?
Amblyopia Treatment Market – Segmentation
- Deprivation Amblyopia
- Refractive Amblyopia
- Strabismic Amblyopia
- Eye Patches
- Eye Glasses
- Eye Drops
- Video Games
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
TABLE OF CONTENT
1.1. Report Scope and Market Segmentation
1.2. Research Highlights
2. Assumptions and Research Methodology
2.1. Assumptions and Acronyms Used
2.2. Research Methodology
3. Executive Summary
4. Market Overview
4.2. Market Dynamics
4.3. Global Amblyopia Treatment Market Forecast
4.4. Global Amblyopia Treatment Market Outlook
5. Market Outlook
5.1. Key Industry Events (mergers, acquisitions, partnerships, collaborations, etc.)
5.2. Disease Prevalence globally with key countries
5.3. COVID-19 Pandemic Impact on Industry (value chain and short / mid / long term impact)
6. Global Amblyopia Treatment Market Analysis and Forecast, by Type
7.1. Global Amblyopia Treatment Market Value Share Analysis, by Type
7.2. Global Amblyopia Treatment Market Forecast, by Type
7.2.1. Deprivation Amblyopia
7.2.2. Refractive Amblyopia
7.2.3. Strabismic Amblyopia
7.3. Global Amblyopia Treatment Market Analysis, by Type
7.4. Global Amblyopia Treatment Market Attractiveness Analysis, by Type
8. Global Amblyopia Treatment Market Analysis and Forecast, by Treatment
8.2. Global Amblyopia Treatment Market Value Share Analysis, by Treatment
8.3. Global Amblyopia Treatment Market Forecast, by Treatment
8.3.1. Eye Patches
8.3.2. Eye Glasses
8.3.3. Eye Drops
8.3.4. Video Games
8.4. Global Amblyopia Treatment Market Analysis, by Treatment
8.5. Global Amblyopia Treatment Market Attractiveness Analysis, by Treatment
9. Global Amblyopia Treatment Market Analysis, by Region
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