PUBLISHER: The Business Research Company | PRODUCT CODE: 1427804
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427804
Eye health supplements are nutritional products containing vitamins and other beneficial nutrients designed to support eye health and maintain optimal vision. These supplements are utilized to prevent or slow down the progression of various eye conditions, including cataracts, age-related macular degeneration (AMD), glaucoma, and diabetic retinopathy.
The primary ingredients in eye health supplements include lutein, zeaxanthin, antioxidants, omega-3 fatty acids, coenzyme Q10, flavonoids, astaxanthin, alpha-lipoic acid, and others. Lutein, an orange xanthophyll, is naturally present in plants, animal fat, egg yolks, and the corpus luteum. These supplements are commonly available in the form of tablets, capsules, and drops, and are employed for the treatment of conditions such as age-related macular degeneration (AMD), cataracts, dry eye syndrome, diabetic retinopathy, among others. They can be obtained from hospital pharmacies, retail pharmacies, and online pharmacies.
The eye health supplements market research report is one of a series of new reports from The Business Research Company that provides eye health supplements market statistics, including eye health supplements industry global market size, regional shares, competitors with an eye health supplements market share, detailed eye health supplements market segments, market trends and opportunities, and any further data you may need to thrive in the eye health supplements industry. This eye health supplements market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The eye health supplements market size has grown strongly in recent years. It will grow from $2.03 billion in 2023 to $2.19 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth observed in the historic period can be attributed to demographic shifts, specifically an aging population, the widespread prevalence of eye disorders, increased awareness of the nutritional impact on eye health, a consumer focus on preventive healthcare, and the availability of various supplement forms.
The eye health supplements market size is expected to see strong growth in the next few years. It will grow to $2.97 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The forecasted growth in the upcoming period can be attributed to factors such as the rise in screen time and digitalization, a heightened interest in holistic health, the clinical validation of ingredients, government initiatives promoting eye health, and the integration of functional ingredients. Notable trends expected in the forecast period include ongoing innovations in formulations, increasing concerns about digital eye strain, the emergence of personalized nutrition solutions, and the popularity of combination products and multivitamins.
The increasing prevalence of vision impairment is a key factor driving the growth of the eye health supplement market. Vision impairment, characterized by irreversible vision loss, is often associated with conditions such as high blood pressure, cerebrovascular disease, stroke, atherosclerosis, vitamin A deficiency, and eye infections. Eye health supplements, containing essential nutrients and vitamins, are designed to contribute to maintaining eye health and promoting good vision. For example, as reported in the 2022 Vision Index by Optometrists Association Australia in July 2022, a significant percentage (81%) of respondents faced challenges in seeing objects at a distance, with shortsightedness being the most common diagnosis (40% of those who had their eyesight evaluated by an optometrist). Consequently, the increasing incidence of vision impairment is a driving force behind the growth of the eye health supplement market.
The rising geriatric population is expected to play a crucial role in propelling the eye health supplement market's growth in the foreseeable future. The term 'geriatric' pertains to the medical field dedicated to the assessment, treatment, and care of older individuals, typically those aged 65 and above. Eye health supplements are deemed essential in supporting and preserving the eyesight and overall eye health of senior individuals who may be more susceptible to age-related eye disorders and visual impairments. As of November 2022, America's Health Rankings reported that over 58 million individuals aged 65 and above were projected to reside in the United States, accounting for approximately 17.3% of the total population. Hence, the increasing geriatric population stands as a driving force for the eye health supplement market.
Product innovation stands out as a prominent trend gaining traction in the eye health supplement market, with major companies striving to develop cutting-edge products to maintain their competitive positions. A case in point is the launch of Eyecirque by Entod Pharma, an India-based pharmaceutical company, in collaboration with ENTOD Beauty, a UK-based medical and cosmetic dermatology research lab. This under-eye skin brightening supplement, introduced in September 2022, boasts a distinctive blend of essential antioxidants, vitamins, and minerals deemed essential for optimal eye health. Eyecirque not only addresses the nutritional needs of the under-eye area but also provides nourishment for comprehensive care.
Leading companies in the eye health supplement market are adopting strategic partnerships to introduce innovative capsanthin-based supplements. An illustrative example is the collaboration between Unibar Corporation, a US-based botanical and herbal life sciences company, and Health Thru Nutrition, a US-based nutritional supplement manufacturing company. This partnership, announced in February 2021, led to the introduction of a capsanthin-based supplement utilizing CapsiClear. CapsiClear is a patent-pending blend of carotenoids standardized to 50% capsanthin, designed to support eye health. It facilitates photo-stress recovery, reduces eye strain, enhances macular pigment optical density, shields the eyes from the impact of blue and white light, and lowers intraocular pressure (IOP) - all crucial factors for long-term visual health. CapsiClear adheres to high standards such as ISO, cGMP, HAACP, and PMDA, boasting self-affirmed GRAS accreditation, and is free of major allergens, non-GMO, gluten-free, and soy-free.
In June 2021, Vision Healthcare N.V., a Belgium-based healthcare company, successfully acquired Nutriment AS, a Norway-based company specializing in the production of vitamin and nutritional supplements. This strategic move aligns with Vision Healthcare's overarching goal of further consolidating its position as a leading health-tech platform in Europe, particularly in the direct-to-consumer segments of VMS (Vitamins, Minerals, Supplements) and beauty and personal care products.
Major companies operating in the eye health supplements market report are Bristol-Myers Squibb Company, Alcon Inc., Amway Corporation, Herbalife Nutrition Ltd., Bausch & Lomb Incorporated, Kemin Industries Inc., The Nature's Bounty Co., Swanson Health, Alliance Pharma PLC, OmniActive Health Technologies, Life Extension, Performance Lab Ltd., ProCaps Laboratories, Nuzena LLC, Vitabiotics Ltd., Nordic Naturals, ZeaVision LLC, Algatechnologies, Zenith Labs, Vita Balance Inc., Biosyntrx Inc., Allied BioNutrition Corporation, Codeage, EyeScience Labs, Healths Harmony USA Supplements LLC, Nutrivein, NutraChamps
North America was the largest region in the eye health supplements market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the eye health supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the eye health supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The eye health supplements market consists of sales of selenium, vitamin C, vitamin E, and calcium. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Eye Health Supplements Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on eye health supplements market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for eye health supplements ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The eye health supplements market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.