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.
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.
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.
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.
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.
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.
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.
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