Global amblyopia therapeutic apparatus market - 2024-2031

Global amblyopia therapeutic apparatus market - 2024-2031

The global amblyopia therapeutic apparatus market reached US$YY million in 2023 and is expected to reach US$YY million by 2031, growing at a CAGR ofYY% during the forecast period 2024-2031.

Amblyopia therapeutic apparatus is a device used to treat Amblyopia, often referred to as ""lazy eye"" Amblyopia is reduced vision in one or both eyes owing to abnormal vision production in infancy or childhood. There might not be an apparent issue with the eye in Amblyopia. Vision deficiency happens when the nerve impulses between the brain and the retina are not adequately activated. The brain ""learns"" to see only fuzzy images of an amblyopia eye, even though glasses are used.

Consequently, one eye is favored by the brain, usually due to impaired vision with the other eye. Amblyopia therapeutic apparatus is widely used in home care, hospitals, and ophthalmologic centers. The growth of the amblyopia therapeutic apparatus market is the growing demand for amblyopia therapeutic apparatus due to rising healthcare expenditure and favorable government regulations.

Market Dynamics: Drivers

Increasing Prevalence of Impairments or Blindness Incidence & Innovation in the Technology

The demand for the amblyopia therapeutic apparatus market is driven by multiple factors. Growth in expenditure incurred on healthcare equipment and technology will propel the market's growth. Besides, the increasing prevalence of impairments or blindness across the globe drives the market's growth over the forecast years. For instance, as per the World Health Organization 2021, at least 2.2 billion people worldwide have a vision impairment or blindness, of whom at least 1 billion have a vision impairment that could have been prevented or has yet to be addressed.

Blindness is due to unaddressed refractive error (88.4 million), cataracts (94 million), glaucoma (7.7 million), corneal opacities (4.2 million), diabetic retinopathy (3.9 million), and trachoma (2 million), as well as near vision impairment caused by unaddressed presbyopia (826 million). Also, the favorable government initiatives taken regarding treating several eye diseases in the Children or Adolescent population across the globe are expected to create a lucrative opportunity for the market's growth over the forthcoming period.

Several major market players are focused on launching technologically advanced products to treat amblyopia. In October 2022, the FDA authorized the NovaSight 510(k) and it was used to treat amblyopia. As the user watches videos through her 3D glasses, the system trains her brain to use both eyes concurrently.

The National Cancer Institute (NCBI) stated in a research paper from December 2021 that they are currently investigating the possible advantages of artificial intelligence (AI) in preschool eye screening. This study's main motivators are the scarcity of pediatric ophthalmologists, the challenges associated with providing healthcare in developing nations, and the expanding knowledge of the advantages of early screening.

One such device has been developed by DIVE Medical that uses an eye tracker to provide a fast and objective measurement of visual acuity and fixation instability. AI can be used to adapt the progression of test stimuli to each child’s performance to minimize test time and AI parameterized algorithms and heuristics can optimize sensory, imaging, and eye movement data processing. AI could provide a low-cost, low-manpower, and accessible approach to preschool vision screening.

For instance, fans of Shark Tank were drawn to CureSee's ground-breaking visual therapy program because it utilized artificial intelligence technology in February 2023. This cutting-edge AI system may be able to offer customized vision therapy to assist people with amblyopia, a disorder that affects many people worldwide, in receiving effective treatment.

Restraints

Factors such as the lack of skilled professionals, lack of knowledge about amblyopia therapeutic, huge costs incurred in training new professionals, and the lack of a skilled workforce are expected to hamper the market.

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Segment Analysis

The amblyopia therapeutic apparatus market is segmented based on product, application, and region.

The color/Icon apparatus segment accounted for approximately 62.9% of the amblyopia therapeutic apparatus market share

The color/Icon apparatus segment is expected to hold the largest market share over the forecast period. Color/icon amblyopia therapeutic apparatus is much more appropriate for getting rid of amblyopia. Therefore, the increasing usage of color/Icon Apparatuses in the amblyopia therapeutic apparatus is expected to propel the near future segmental growth.

Amblyopia in color class is a therapeutic apparatus a tool that helps amblyopia patients see more clearly by stimulating their eyes with various colors. The Class Icon Through the use of visual icons or symbols, the amblyopia therapeutic apparatus teaches the brain how to interpret images correctly.

By combining different treatment strategies, such as color and icon stimulation, the whole Amblyopia treatment Apparatus provides a more thorough approach to treating amblyopia. Each variety caters to the particular requirements of amblyopia sufferers with special characteristics and advantages.

Geographical Analysis

North America accounted for approximately 41.2% of the amblyopia therapeutic apparatus's market share

North America region is expected to hold the largest market share over the forecast period. According to the American Academy of Ophthalmology report published in 2021, By the United States Census Bureau, the population of the United States is 289 million; among this, 151 million people require some form of vision correction, and 24% of the population (69 million people) is myopic, and it is estimated that about 43 million of these are candidates for refractive surgery. 60% have less than 2 diopters (D) of myopia, 39% have 2 to 8 D of myopia, and fewer than 1% have more than 8 D of myopia.

Approximately 26% of the United States population (75 million people) are hyperopic, but only 15 million of these are candidates for refractive surgery. The average age of refractive surgery patients with myopia is 40 years, and with hyperopia, 55 years.

In October 2021, the FDA approved Luminopia's digital therapeutic to enhance vision in children with lazy eyes. Luminopia One as a prescription therapy is indicated for enhancement in visual acuity in children with amblyopia aged between four and seven years and associated with anisometropia or mild strabismus.

COVID-19 Impact Analysis

The COVID-19 pandemic significantly impacted the amblyopia therapeutic apparatus market. The demand for medical amblyopia therapeutic equipment is projected to expand rapidly due to the global burden of COVID-19. As a result of the pandemic, suppliers of the medical amblyopia therapeutic apparatus industry were forced to suspend their business operations to comply with the new government regulations. This break-in operation significantly affects the sales flow in the global industry for medical amblyopia.

The institute has also provided a series of urgent and emergent procedures required to solve potential sight-threatening conditions. Such findings are affecting and boosting the growth of the amblyopia treatment market.

Though eye diseases legit involve a fatal outcome, potential morbidity in patients has obliged companies in the amblyopia treatment 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 amblyopia treatment.

Market Segmentation

By Product
• Color/Icon Apparatus
• Comprehensive Apparatus

By Application
• Eye Hospitals
• Vision Recovery Centres
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the amblyopia therapeutic apparatus market include Medtronic, Microlife Guangzhou Boshi, Guangzhou Shijia, Xi'an Huaya, Shenzhen ElmmediCare, Guangzhou Shizheng, Xi'an Aile, Zhongke Hengtong, Beijing Tongming, among others.

Key Developments

 On April 25, 2024, Tobii provides eye tracking technology for NovaSight’s groundbreaking pediatric Amblyopia treatment.

 On July 27, 2023, Luminopia, Inc. announced the closing of an oversubscribed series of financing rounds. Lead product uses TV shows to improve vision in children with lazy eyes.

 On September 29, 2022, the CureSight-CS100TM (Nova-Sight) device received U.S. FDA 510(k) approval, listing Luminopia OneTM as the predicate device. CureSight-CS100TM is a prescription device and software indicated for the improvement of visual and stereo acuity in amblyopia patients 4 to 9 years old, with anisometropia and/or with mild strabismus. The system uses digital content, real-time eye tracking, and separation

 On January 30, 2022, Medtronic, a global leader in healthcare technology, had a definitive agreement to acquire Affera, Inc., a Boston area-based, privately held medical technology company.

 On October 12, 2021, HOYA Vision Care announced a partnership with Orbis International, which is an organization that mentors, trains, and inspires local eye care professionals to save sight in their communities.



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• To visualize the amblyopia therapeutic apparatus market segmentation based on product, application and region as well as understand key commercial assets and players.
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The amblyopia therapeutic apparatus market report would provide approximately 51 tables, 41 figures, and 181 Pages.

Target Audience 2024
• Manufacturers/ Buyers
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• Research Professionals
• Emerging Companies