Eye Health Supplements Market to Reach US$ 3,418.3 Million by 2027 - Coherent Market Insights

Omega-3 polyunsaturated fatty acids are commonly found in fish, nuts and vegetable oils. Omega-3 fatty acids stimulate vision development in infants. Coenzyme Q10 is a natural trans- isomer derived from yeast fermentation and is commonly used in combination with Vitamin A and other eye health supplement ingredients. Other eye health supplements include, flavonoids, astaxanthin, alpha-lipoic Acid, zinc, copper, and krill.

The global eye health supplements market is estimated to account for US$ 2,236.6 Mn in terms of value in 2020 and is expected to reach US$ 3,418.3 Mn by the end of 2027.

Global Eye Health Supplements Market: Drivers

R&D of new eye health supplements is expected to propel growth of the global eye health supplements market over the forecast period. For instance, in September 2019, researchers from Korea Institute of Oriental Medicine, South Korea, reported that Achyranthis radix hot water extract, derived from Achyranthis radix, an ingredient of traditional medicine generally used for treating osteoporosis, is effective in the reducing the symptoms of urban particulate matter-induced dry eye disease.

Global Eye Health Supplements Market: Opportunities 

Increasing prevalence of diabetes is expected to offer lucrative growth opportunities for players in the market. For instance, according to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045.

Global Eye Health Supplements Market: Restraints

Low presence of ophthalmologists in emerging economies is expected to limit growth of the market. For instance, according to the study, “Estimated number of ophthalmologists worldwide (International Council of Ophthalmology update): will we meet the needs?” published in March 2020, in 2015, the ratio of ophthalmologists per million population for low-income countries was 3.7 compared to 76.2 for high-income countries.

Key Takeaways:

The global eye health supplements market was valued at US$ 2,105.2 Mn in 2019 and is forecast to reach a value of US$ 3,418.3 Mn by 2027 at a CAGR of 6.2% between 2020 and 2027. Factors such as increasing prevalence of ophthalmic diseases and robust research and development is expected to support growth of the market over the forecast period.

Capsules segment held dominant position in the global eye health supplements market in 2019, accounting for 43.4% share in terms of value, followed by tablet and others, respectively. Capsules are taken by oral route which is convenient for the patients. Moreover, several ingredients which are disintegrated by stomach acid can by delivered in the blood system through capsules which is expected to support the segment growth over the forecast perio 

Age-related Macular Degeneration (AMD) segment held dominant position in the global eye health supplements market in 2019, accounting for 69.2% share in terms of value. Increasing prevalence of AMD is expected to support growth of the segment.

Market Trends

Antioxidative flavonoids such as Anthocyanin has specific effects on rhodopsin regeneration and smooth muscle relaxation in vitro. The supplement enhances blood circulation. Moreover, Anthocyanin found in blackcurrant can enhance vision health and aid in the treatment of optical disorders.

Lutein and lycopene products are effective in the prevention or mitigation of retinal pigment epithelial proliferative diseases, such as proliferative vitreoretinopathy, retinopathy of prematurity, and age-related macular degeneration.

Global Eye Health Supplements Market: Competitive Landscape  

Major players operating in the global eye health supplements market include, Bausch + Lomb, Vitabiotics Ltd., Valeant Pharmaceuticals International Inc., Life Extension, Pfizer Inc., OmniActive Health Technologies, Algatechnologies, Alliance Pharma, The Nature's Bounty Co., Novartis AG, and Amway Corp.

Global Eye Health Supplements Market: Key Developments   

October 2019: Bausch + Lomb launched PreserVision AREDS 2 Formula minigel eye vitamins in the U.S.

May 2019: Algatechnologies launched new micro-encapsulated natural astaxanthin powder AstaPure-EyeQ ingredient formulated for vision and brain health

Segmentation

• By Ingredient Type
  • Lutein and Zeaxanthin
  • Antioxidants
  • Omega-3 Fatty Acids
  • Coenzyme Q10
  • Flavonoids
  • Astaxanthin
  • Alpha-Lipoic Acid
  • Other Ingredients
• By Indication Type
  • Age-related Macular Degeneration (AMD)
  • Cataract
  • Dry Eye Syndrome
  • Other Indications
• By Form
  • Tablet
  • Capsule
  • Others