The global eye health supplements market size is expected to reach USD 2.4 billion by 2027, expanding at a CAGR of 6.1%, according to a new report by Grand View Research, Inc. Rising elderly population, growing exposure to blue light, and increasing prevalence of various vision disorders such as macular degeneration, refractive errors, cataract, inflammation, diabetic retinopathy, corneal opacity, trachoma, and dry eye syndrome are the major factors driving the market. In addition, uneven quality of eye care services, workforce shortages, lifestyle changes leading to less time spent outdoors, poor nutritional habits and dropping food quality, and increasing awareness regarding eye health is further boosting the market growth.
According
to the World Health Organization, in 2019, 2.2 billion people were suffering
from vision impairments or blindness globally, out of which 1.0 billion people
have moderate to severe distance vision impairment. This is owing to
unaddressed cataract accounting for 65.2 million, refractive error accounting
for 123.7 million, glaucoma accounting for 6.9 million, diabetic retinopathy
accounting for 3.0 million, trachoma accounting for 2.0 million, and corneal
opacities accounting for 4.2 million, as well as near vision impairment caused
due to unaddressed presbyopia accounting for 826.0 million cases. This has led
to the rise in the demand and adoption of the supplements for the prevention of
various vision-related problems.
Moreover,
an increase in the number of product launches, partnerships, collaborations,
mergers and acquisitions, and government initiatives is further boosting the
market growth. For instance, in November 2019, NovaBay Pharmaceuticals, Inc.
announced the launch of NovaSight, formulated to support ocular health, on
Amazon.com. In January 2020, VisiVite announced the launch of two new
supplements- VisiVite Blue Light Basher Formula for replenishing the macular
pigment layer and dissipating high energy blue light, and VisiVite AREDS 2
Chewable Tablets for maximum ocular nutrition. However, lack of product
availability and high costs associated with the supplements in emerging
countries is anticipated to hamper the market growth.
Full Research Report On Eye Health Supplements Market Visit Here:
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Eye Health
Supplements Market Report Highlights
- Lutein and
Zeaxanthin supplements emerged as the leading ingredient type segment in
2019 with a revenue share of 31.2% in the market
- The
Age-related Macular Degeneration (AMD) segment accounted for the largest
revenue share in 2019. Whereas, the dry eye syndrome segment is projected
to expand at the fastest CAGR during the forecast period
- Based on
formulation, the tablets segment accounted for the largest revenue share
in 2019, whereas the softgels segment is projected to expand at the
fastest CAGR during the forecast period
- North America
accounted for the largest revenue share in 2019 due to increasing
prevalence of eye-related disorders in the region, developed healthcare
infrastructure, and a high presence of channel distributors for the
supplements.
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Eye Health
Supplements Market Segmentation
Grand View Research has
segmented the global eye health supplements market on the basis of ingredient
type, indication, formulation, and region:
Eye Health
Supplements Ingredient Type Outlook (Revenue, USD Million, 2016 - 2027)
- Lutein and Zeaxanthin
- Antioxidants
- Omega-3 Fatty acids
- Coenzyme Q10
- Flavonoids
- Alpha-Lipoic Acid
- Astaxanthin
- Other Supplements
Eye Health
Supplements Indication Outlook (Revenue, USD Million, 2016 - 2027)
- Age-related Macular Degeneration (AMD)
- Cataract
- Dry Eye Syndrome
- Inflammation
- Others
Eye Health
Supplements Formulation Outlook (Revenue, USD Million, 2016 - 2027)
- Tablets
- Capsules
- Powder
- Softgels
- Liquid
Eye Health
Supplements Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- Japan
- China
- India
- South Korea
- Singapore
- Australia
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
List of Key
Players of Eye Health Supplements Market
- The Nature's Bounty Co.
- Vitabiotics Ltd.
- Pfizer Inc.
- Amway International
- Bausch & Lomb
- Nutrivein
- ZeaVision LLC
- Kemin Industries, Inc.
- EyeScience
- Nutrachamps
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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