Eye Health Supplements Market
Eye Health Supplements Market: Information by Supplement Category (Antioxidants), Therapeutic Domain (Age-Related Macular Degeneration), Product Type, and Region — Forecast till 2029
Market Overview
The eye health supplements market was valued at USD 1200 million in 2019 and is expected to grow at 6.1 % CAGR during the forecast period.
The healthcare industry addresses services and products for a wide range of diseases and bodily abnormalities. The human eye is one such important body part towards which many products and services are dedicated. As per the World Health Organization (WHO), approximately 2.2 billion individuals worldwide in 2019 had vision impairment or blindness.
Eye health supplements are medications or supplements that are introduced for the purpose of maintaining healthy, improving vision, and enhancing functionality. Further, there are a number of supplements that target various functions and attributes regarding eye health. They are used to treat a variety of disorders, including cataracts, diabetic retinopathy, and glaucoma. Consumption of oral dietary products derived from different sources is the key method of enhancing vision health.
Vitamins, proteins, and fatty acids are essential parts of eye health supplements that help in retaining eye health and ensuring a regular supply of essential minerals. Some of the other key components that are very often constituted in eye health supplements include minerals and biological components, such as zinc, omega-3 fatty acids, vitamin B1, and vitamin C.
Market Snapshot
Market Dynamics
Rising Cases of Eye Health Issues and Vision Impairments
The global market for eye health supplements is growing at a rapid rate. The rising number of health issues and the growing awareness about the availability of various supplements drive market growth. As per the report published in BMC Ophthalmology, a survey was conducted in the South Asia region, where amongst all the 500 participants, about 92.8% were clinically diagnosed with eye diseases. Thus, the key players are investing significant capital and launching eye care supplements to address these issues, further driving the market growth.
Technological Advancements and Innovations in the Field of Eye Health Supplements
As per the WHO reports in 2019, out of 2.2 billion people that were diagnosed with vision impairment and blindness, early diagnostics and supplementations could have prevented about 1 billion (roughly 50%) of such cases. Further, the contemporary work culture for prolonged hours has surged the cases of eye irritations, dry eyes, eye fatigue, and myopia, further surging the demand for eye health supplements. With the boost of e-commerce across most of the developed and developing countries, the availability of these products has become substantially easy.
Segmental Analysis
Carotenoid Segment Hold the Largest Market Share during the Forecast Period
Increasing awareness regarding the benefits of products composed of lutein and zeaxanthin drives the segment growth. The product can treat various eye disorders, including AMD, diabetic retinopathy, uveitis, and cataract. Moreover, the rising prevalence of eye disorders and the growing number of prescriptions for these supplements by ophthalmologists, clinicians, and researchers drive the market growth.
However, the flavonoids segment is set to witness a significant growth rate over the forecast period, owing to the rising demand for flavonoids. Bilberry extract, one of the most common flavonoids in eye health supplements, is extensively used to relieve eye fatigue and aid various eye disorders. The adoption of flavonoids as eye health supplements is motivated by the growing availability of bilberry extract at affordable rates.
Tablets to Be the Most Commonly Adopted Means of Supplementation
The tablet segment dominates the market on account of the number of product variations offered by manufacturers. Tablets have a higher shelf life as compared to drops, lotions, and other product forms, further driving its demand among the end-users. In addition, tablets are comparatively cheaper than other forms and are widely accepted by patients of all age groups.
Regional Analysis
Easy Availability of Eye Health Supplements North America Drives the Market Growth
North America holds the highest market share on account of the increasing prevalence of chronic eye disorders, such as AMD, diabetic retinopathy, glaucoma, and dry eye syndrome, cataract, rapidly growing awareness about eye health and associated diseases, and easy availability of eye health supplements. Surging product launches by key players drive the regional market. For instance, in 2019, the U.S. Company, Bausch & Lomb Incorporated, launched Ocuvite Eye Performance vitamin supplements in the U.S.
APAC to Offer Lucrative Growth Opportunities to the Players in the Eye Health Supplements Market
In Asia-Pacific, the robust presence of a large number of local players that are offering affordable, innovative eye health supplements drives the market growth. The availability of cheap labor has surged the investments by international players, further providing an impetus to the market growth. Increasing eye health awareness due to the surging prevalence of eye-related disorders accelerates the market growth. For instance, as per the study published by the International Finance Corporation, China witnessed a 6.0% increase in impaired vision cases annually.
Top Key Players of Eye Health Supplements Market
- Biosyntrx Inc. (The U.S.)
- Nordic Naturals Inc. (The U.S.)
- Bristol-Myers Squibb Company (The U.S.)
- Healths Harmony LLC (The U.S)
- NUSAPURE (The U.S.)
- Vitabiotics Ltd. (U.K)
- Bausch & Lomb Incorporated (The U.S.)
- zNature's Bounty Co. (The U.S.)
- Pfizer Inc.(The U.S.)
- Amway International(The U.S.)
- ZeaVision LLC(The U.S.)
- Kemin Industries, Inc.(The U.S.)
- EyeScience(The U.S.)
Report Scope
| Report Metric | Details |
|---|---|
| CAGR | 6.1% |
| Forecast Period | 2023-2031 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
| Segments Covered |
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| Geographies Covered |
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Recent Developments
- In August 2019, the Japan-based company, Nippon Flour Mills, entered the healthcare domain with the launch an eye and brain supplements made from lutein and zeaxanthin
- In 2019, MNC Bausch & Lomb Incorporated launched PreserVision AREDS 2, an eye vitamin gel in the soft gel portfolio, for commercialization in the U.S.
Eye Health Supplements Market Segmentation
By Supplement Category
- Carotenoids
- Lutein
- Zeaxanthin
- Antioxidants
- Omega-3 Fatty acids
- Coenzyme Q10
- Flavonoids
By Therapeutic Targets
- Age-related Macular Degeneration (AMD)
- Cataract
- Dry Eye Syndrome
- Inflammation
By Product Type
- Tablets
- Capsules
- Powder
- Softgels
- Liquid
By End-User
- Hospitals
- Eye Care Clinics
- Pharmacy
By Regions
- North America
- Europe
- Asia-Pacific
- Central and South America and the Caribbean
- The Middle East and Africa
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Report Benefits
- Develop business strategies by understanding the trends shaping and driving the Market.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the company share of market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
- Track sales in the global and country-specific Market.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
