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Impact of COVID-19 on Amblyopia Treatment Market

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.

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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.

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· 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.

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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

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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.

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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.

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