July 10, 2020
According to the research report titled ‘Global Customized Medical Amblyopia Therapeutic Apparatus Market Size study with COVID-19 impact, by Product (Color Class Amblyopia Therapeutic Apparatus, Icon Class Amblyopia Therapeutic Apparatus and Comprehensive Amblyopia Therapeutic Apparatus), by Application (Eye Hospital and Vision Recovery Centre) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global customized medical amblyopia therapeutic apparatus market is projected to register a healthy growth rate through 2027.
Amblyopia therapeutic apparatus is used for treatment of amblyopia, also known as ‘Lazy eye’. Amblyopia is an abnormal condition which begins during childhood or infancy and affects the normal visual acuity in one or both eyes. It is caused by improper stimulation of the nerve pathways between the eyes and brain during birth, resulting in loss of vision. The amblyopic eye continues to see blurry images even with use of glasses or contact lens.
Due to the rising prevalence of COVID-19 cases, worldwide customized medical amblyopia therapeutic apparatus market is reckoned to witness sluggish growth. The coronavirus outbreak has pushed manufacturers of amblyopia therapeutic apparatus to cease company activities to comply with government regulations, which has directly impacted the revenue flow of the industry. Although, rise in expenditure towards healthcare technology and equipment is expected to boost the market growth.
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Furthermore, increasing incidences of vision impairments or blindness worldwide will drive the market growth over the analysis period. In addition, various government initiatives for treatment of eye diseases among adolescents and children is expected to create a plethora of growth opportunities for the industry partakers in coming years.
Based on products, worldwide customized medical amblyopia therapeutic apparatus market is divided into icon class apparatus, comprehensive apparatus, and color class apparatus. With regards to the application spectrum, the market is segmented into vision recovery center and eye hospital.
Considering the regional overview, global customized medical therapeutic apparatus market is divided into Europe, Latin America, Asia Pacific, North America, and Rest of the World. North America accounts for majority market share due to increasing technological advancements and high healthcare expenditure across the region.
Asia Pacific market is also expected to witness strong CAGR during 2020-2026, owing to increase in number of children suffering from amblyopia.
Key players in global customized medical amblyopia therapeutic apparatus market are Roche, Medtronic, Animas, Siemens, Microlife, Insulet, Omron, and Panasonic among others.