Amblyopia Treatment Market: Introduction
- 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 cataracts, or severe farsightedness or nearsightedness.
Key Drivers and Opportunities of Global Amblyopia Treatment Market
- Increase in number of cases of amblyopia drives the demand for products and subsequently, propels the market. For instance, in the U.S., an estimated 2% to 3% of the population has some degree of amblyopia.
- Rise in awareness regarding the available treatment options is anticipated to fuel the market. Moreover, government initiatives to address the burden of eye diseases by conducting public health surveillance, research, and evidence-based public health interventions is likely to augment the market.
- Expanding the treatment approaches for Amblyopia is likely to create significant opportunity for key players in the market. Moreover, investment in research & development in order to develop new innovative technological products is projected to create significant opportunity in the market. For instance, Vivid Vision is a highly advanced lazy eye treatment system. More than 387 eye clinics worldwide provide Vivid Vision.
North America to Capture Major Share of Global Amblyopia Treatment Market
- North America is expected to account for a major share of the global amblyopia treatment market due to the presence of key market players. Moreover, early adoption of technological advanced products is likely to drive the market in the region.
- The amblyopia treatment market in Asia Pacific is estimated to expand at a rapid pace during the forecast period owing to a rise in cases of lazy eye diseases due to an increase in usage of digital devices
Key Players Operating in Global Amblyopia Treatment Market
The global amblyopia treatment market is highly concentrated due to the presence of key players. A large number of manufacturers hold a major share in their respective regions. Demand for amblyopia treatment products has increased in emerging as well as developed markets. Thus, industry players are adopting practices of appointing third-party distributors to expand their market presence. This has led to a surge in the number of distributors and suppliers in emerging markets. For instance, Fresnel Prism and Lens Co. a Minnesota-based business has been the distributor of 3M for more than 30 years.
Growth strategies adopted by leading players are likely to drive the global market. For instance, in July 2020, NovaSight announced that it had raised US$ 8 million for lazy eye treatment devices. Novartis completed the acquisition of Amblyotech and its digital therapeutic for amblyopia in April 2020. In October 2018, Novartis expand its surgical products offering. This include mydriatic, cycloplegic, diagnostic, and anesthetic products. Moreover, product offering in its portfolio include ISOPTO Atropine indicated for penalization of the healthy eye in the treatment of amblyopia.
Major players operating in the global amblyopia treatment market are:
- Vivid Vision, Inc.
- Amblyoptica (Holding) Pty Ltd
- HOYA VISION CARE COMPANY
- Krafty Eye Patches
- Hilco Vision
Global Amblyopia Treatment Market: Research Scope
Global Amblyopia Treatment Market, by Products
- Eye Patches
- Eye Drops
Global Amblyopia Treatment Market, by Type
- Refractive Amblyopia
- Strabismic Amblyopia
- Deprivation Amblyopia
- Reverse Amblyopia
Global Amblyopia Treatment Market, by Distribution Analysis
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.