Increasing prevalence of the lazy eye diseases, growing child population, rising healthcare expenditures, and increasing R&D by the major market players are estimated to be the major drivers governing the market growth during the forecast period. However, lack of awareness and unavailability of the effective treatment procedures may restrain the market growth during the projected period.
The global lazy eye market is expected to grow at an approximate CAGR of 7.8% during the forecast period.
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The key players in the global lazy eye market are inclusive of Pfizer Inc. (U.S.), TCI Chemicals (India) Pvt. Ltd. (India), Adwia Pharmaceuticals Co. (Egypt), 3M (U.S.), Bausch & Lomb Incorporated. (U.S.), Rebion (U.S.), Vivid Vision, Inc. (U.S.), Johnson and Johnson Services, Inc. (U.S.), and others.
The global lazy eye market is segmented on the basis of type, diagnosis, treatment, and end-user.
On the basis of the type, the market is segmented into strabismic amblyopia, refractive amblyopia, deprivation amblyopia, and others. On the basis of the diagnosis, the market is segmented into general eye test, squint test, and others. On the basis of the treatment, the market is segmented into corrective eyewear, eye patches, surgery, atropine eye drops, and others. The corrective eyewear segment is sub-segmented into glasses, contact lenses, and others. On the basis of the end-users, the market is segmented into eye care clinics, hospitals, retail pharmacies, and others.
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The Americas lead the global lazy eye market. Presence of the well-developed healthcare sector, growing child population, and rising healthcare expenditure are the driving factors for the market growth. Additionally, the presence of the major players within the region boosts the market. Europe is estimated to be the second in the global lazy eye market owing to the availability of the funds for research and huge patient population. The Asia Pacific is the fastest growing region for the market. Developing healthcare sector and rising per capita healthcare expenditure are the major drivers of market growth within the region.
The Middle East & Africa holds the least share in the lazy eye market owing to the poor availability of the healthcare services and low per capita healthcare expenditures within the African region. The Middle East region holds a majority of the market of the Middle East and Africa due to the presence of developed economies like Kuwait, Qatar, Dubai, Oman besides others. Moreover, the per capita healthcare expenditure within the region is high providing favorable backgrounds for market growth.
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