SAN FRANCISCO, Oct. 5, 2020 /PRNewswire/ — 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.
Key suggestions from the report:
- 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.
Read 150 page research report with ToC on “Eye Health Supplements Market Size, Share & Trends Analysis Report By Ingredient Type, By Indication (AMD, Cataract, Dry Eye Syndrome, Inflammation), By Formulation, By Region, And Segment Forecasts, 2020 – 2027” at: https://www.grandviewresearch.com/industry-analysis/eye-health-supplements-market
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.
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
- Omega-3 Fatty acids
- Coenzyme Q10
- Alpha-Lipoic Acid
- Other Supplements
- Eye Health Supplements Indication Outlook (Revenue, USD Million, 2016 – 2027)
- Age-related Macular Degeneration (AMD)
- Dry Eye Syndrome
- Eye Health Supplements Formulation Outlook (Revenue, USD Million, 2016 – 2027)
- Eye Health Supplements Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Eye Health Supplements Market
- The Nature’s Bounty Co.
- Vitabiotics Ltd.
- Pfizer Inc.
- Amway International
- Bausch & Lomb
- ZeaVision LLC
- Kemin Industries, Inc.
Find more research reports on Pharmaceuticals Industry, by Grand View Research:
- Dry Eye Syndrome Treatment Market – Global dry eye syndrome treatment market is estimated to increase at a significant rate over the forecast period. Increasing in the geriatric population is the major factor governing the market.
- Herbal Supplements Market – Global herbal supplements market size was valued at USD 5.26 billion in 2017 and is anticipated to grow at a CAGR of 6.2% over the forecast period.
- Nutritional Supplements Market – Global nutritional supplements market size was valued at USD 273.9 billion in 2018 and is anticipated to expand at a CAGR of 6.4% over the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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