The global amblyopia market is projected to experience a notable compound annual growth rate (CAGR) in terms of revenue throughout the forecast period. The primary driver behind the revenue expansion in the worldwide amblyopia market is the increasing prevalence of amblyopia on a global scale. In 2021, the prevalence of amblyopia stood at 1-5% globally, with 99 million individuals affected by this condition in 2019. This number is anticipated to rise to 175 million by the year 2030.

Amblyopia, also known as "lazy eye" disease, is a neurological vision impairment affecting both children and adults. It involves a diminished vision in one or both eyes due to impaired visual development during infancy or childhood. In cases of amblyopia, the brain fails to "learn to see well" as it receives a blurred image from the affected eye. Typically, amblyopia is most commonly observed in newborns and children up to the age of 7 years.

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Competitive Landscape

Organic and Inorganic Strategies Adopted:

Apr 20, 2020, Novartis announced the complete acquisition of the USA-based software start-up Amblyotech Inc. and will work with Ubisoft and McGill University to develop the acquiredDigitaltechnology for the treatment of amblyopia. Amblyotech is a clinical-stageDigital Therapeuticscompany involved in the treatment and diagnosis of amblyopia and other several eye-related disorders.

Major Companies In The Market Include:

• Рfіzеr Inc.
• Johnson Johnson Ltd.
• Novartis AG

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Driving Factors of the Amblyopia Market:

1. Increasing Prevalence of Amblyopia: The rising prevalence of amblyopia, especially among children, is a significant driver for the market. This eye disorder is becoming more common, necessitating increased diagnostic and treatment options.
2. Early Detection and Diagnosis: Growing awareness about the importance of early detection and diagnosis of amblyopia is driving market growth. Timely identification can lead to more effective treatment.
3. Technological Advancements: Advances in diagnostic tools and treatment options, such as vision therapy and innovative eyewear, are expanding the market by providing more effective and comfortable solutions for patients.
4. Supportive Government Initiatives: Government initiatives aimed at promoting eye health and providing access to eye care services, especially for children, contribute to market growth.

Restraints of the Amblyopia Market:

1. Limited Awareness: Despite efforts to increase awareness, amblyopia remains underdiagnosed in some regions due to limited awareness among both patients and healthcare providers.
2. High Treatment Costs: Treatment for amblyopia can be expensive, especially if it requires prolonged therapy or surgery. This can be a barrier for some patients, particularly in regions with limited healthcare access.
3. Shortage of Skilled Healthcare Providers: The shortage of eye care specialists and pediatric ophthalmologists in some areas can limit the timely diagnosis and treatment of amblyopia.
4. Patient Compliance: Amblyopia treatment often requires consistent and sometimes lengthy compliance with prescribed therapies, which can be challenging for both children and their caregivers.

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