Eye Health Supplements Market Analysis, Growth & Size 2027

[Research Report] The eye health supplements market was valued at US$ 1,572.33 million in 2019 and is projected to reach US$ 2,382.96 million by 2027; it is expected to grow at a CAGR of 5.5% from 2020 to 2027.

Eye supplements are nutritional products that help maintain eye health and good vision. The eye health supplements prominently comprise vitamin A, lutein and zeaxanthin, omega-3 fatty acids, gamma-linolenic acid, and others. These nutritional supplements help sustain eye function, reduce the development of age-related eye diseases, and protect eyes from harmful radiations.The eye health supplements market growth is mainly attributed to increasing prevalence of eye diseases and rising geriatric population. Moreover, increasing industrial developments are further expected to foster market growth during the forecast period. However, the high cost of eye health supplements and lack of product availability are restricting the market growth.
The APAC countries are facing challenges due to increasing incidences of COVID-19. As per the data of Worldometer, the total number of COVID-19 cases stood at 5,739,512 in APAC on August 17, 2020. The COVID-19 pandemic has accelerated dependency on digital devices and consumers are becoming aware of the negative effects of prolonged use of these devices such as mobile and laptops. These factors have increased the demand of health supplements and presenting lucrative opportunities for market players to gain new customers.3

Lucrative Regions for Eye Health Supplements Market

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Market Insights

Growing Prevalence of Eye Diseases Drives Eye Health Supplements Market Growth

Visual impairment, blindness, and associated conditions are significantly influencing the quality of physical and mental health of patients. Patients suffering from eye disorders are at high risk of going through chronic health conditions, accidents, depression, and social withdrawal. Age-related macular degeneration, glaucoma, cataract, eye allergies, diabetic retinopathy, amblyopia, and strabismus are commonly observed eye disorders among the global population.

According to a study published by the American Academy of Ophthalmology in 2019, ~7.32 million people in the US are projected to suffer from primary open-angle glaucoma by 2050. According to a study conducted by the Centers for Disease Control and Prevention (CDC) in 2019, nearly 20.5 million people in the US were suffering from cataract. Also, according to the estimates by the CDC, the number of cataract patients in the US will rise to 30 million by 2028. Furthermore, according to data published by NHS in 2020, about 360,000 million people in the UK are registered as partially sighted or blind. Such a high prevalence of eye conditions is anticipated to increase the demand and adoption of eye health supplements and this scenario will drive the growth of the market.

Ingredient Type-Based Insights

Based on ingredient type, the eye health supplements market is segmented into lutein and zeaxanthin, antioxidants, omega-3 fatty acids, coenzyme Q10, flavonoids, astaxanthin, alpha-lipoic acid, and others. The lutein and zeaxanthin segment held the largest share of the market in 2019. However, the flavonoids segment is anticipated to register the highest CAGR during the forecast period. Lutein and zeaxanthin help in reducing the risk of chronic eye diseases, as they filter harmful blue wavelengths of light and maintain eye health.

Eye Health Supplements Market, by Ingredient Type – 2019 and 2027

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Indication-Based Insights

Based on indication, the eye health supplements market is segmented into age-related macular degeneration (AMD), cataract, dry eye syndrome, and others. The AMD segment held the largest share of the market in 2019. However, the dry eye syndrome segment is anticipated to register the highest CAGR during the forecast period. Dry eye is a condition caused by a lack of lubrication and moisture in the eyes. The developed countries are experiencing a significant rise in the number of patients suffering from dry eye condition. For instance, according to National Health and Wellness Survey, ~16.4 million people were diagnosed with dry eye in April 2020 in the US.

Form-Based Insights

Based on form, the eye health supplements market is segmented into tablet, capsule, and drops. The capsule segment held the largest share of the market in 2019. Also, the capsule market is estimated to grow at the fastest CAGR during 2020–2027. Capsules are solid dosage forms where therapeutic components are enclosed in a hard or soft soluble gelatin shell. Capsule are absorbed more easily than tablets and are easy to swallow. These advantages of capsules will drive the growth of this segment during the forecast period.

Strategic Insights

Product launches, mergers and acquisitions, collaborations, and expansions are the commonly adopted strategies by various companies to expand their footprint worldwide and meet the growing demand by expanding their respective product portfolios. The players operating in the eye health supplements market adopted the product innovations strategy to cater changing customer demands around the world, which also permits them to maintain their brand name in a global market.

Eye Health Supplements Market – by Ingredient Type

• Lutein and Zeaxanthin
• Antioxidants
• Omega-3 Fatty Acids
• Coenzyme Q10
• Flavonoids
• Astaxanthin
• Alpha-Lipoic Acid
• Others

Eye Health Supplements Market – by Indication

• Age-related Macular Degeneration (AMD)
• Cataract
• Dry Eye Syndrome
• Others

Eye Health Supplements Market – by Form

• Tablet
• Capsule
• Drops

Eye Health Supplements Market – by Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South and Central America (SCAM)
  • Brazil
  • Argentina
  • Rest of SCAM

Company Profiles

• Nordic Naturals
• Herbalife Nutrition Ltd.
• The Nature's Bounty Co.
• AMWAY
• Pfizer Inc.
• Alcon Inc.
• Bausch Health Companies Inc.
• Vitabiotics Ltd
• Alliance Pharma PLC
• Allergan plc