San Francisco, 13 June 2024: The Report 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

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.

According to the World Health Organization, in 2020, 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 2020, 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.

The growing incidences of vision impairment and rising myopic population, particularly during the COVID-19 pandemic, owing to an increased usage of screens and joining virtual meetings while working from home, is one of the key factors driving the market. High myopia can be attributable to an increased risk of various progressive eye disorders such as cataracts, glaucoma, and age-related macular degeneration. Increasing preference for eye health supplements among the older group of individuals and millennials highly prone to digital eye fatigue and myopia is further driving the market worldwide. An increase in the prevalence of various eye conditions including Age-related Macular Degeneration (AMD), dry eye syndrome, cataracts, and inflammation along with the glowing recommendation for eye health supplements by ophthalmologists for the prevention and treatment of these disorders is further driving the market.

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According to the WHO, around 2.2 billion individuals across the globe in 2020 have been registered with vision impairment or blindness. Low and middle-income countries such as South Asia and western and eastern sub-Saharan Africa have been reported to witness eight times higher rates of blindness as compared to the high-income countries. Particularly in low and middle-income countries, women are expected to have a higher incidence of eye disorders such as cataracts and AMD. Consumers in developed countries, such as the U.S., Canada, Australia, and the U.K., have high per-capita expenditures, thus registering high spending on healthcare products, including eye health supplements, which contributes to market growth. Moreover, increasing demand for Lutein and Zeaxanthin supplements and bilberry extract supplements for eye health and convenient access to these supplements via direct sales and e-commerce platforms is driving the market.

Eye Health Supplements Market Report Highlights

• Lutein and Zeaxanthin supplements emerged as the leading ingredient type segment in 2020 with a revenue share of 31.2% in the market
• The Age-related Macular Degeneration (AMD) segment accounted for the largest revenue share in 2020. 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 2020, 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 2020 due to increasing prevalence of eye-related disorders in the region, developed healthcare infrastructure, and a high presence of channel distributors for the supplements.

Moreover, the increasing launch of eye health supplements in order to cater to the unmet demand from 1.0 billion unaddressed individuals suffering from vision impairment worldwide is projected to deliver robust growth in the market. This, in turn, is expected to further drive the sales of eye health supplements in the near future. For instance, Bausch + Lomb, in October 2020, launched its eye health supplement - PreserVision AREDS 2 Formula mini gel eye vitamins in the U.S. The PreserVision AREDS 2 Formula mini gel is an easier-to-swallow alternative for the company’s PreserVision AREDS 2 Formula soft gels, indicated for advanced AMD. 

Moreover, the presence of a strong sales channel and distribution network for these supplements contributes significantly to market growth. As per a study published by NutraIngredients, owing to the COVID-19 situation, the online sales of eye health supplements have increased drastically to approximately 48.3% in the past few months.

Eye Health Supplements Market Report Scope

Key companies are adopting various business strategies including mergers, collaborations, and new product launches to maintain their market share. For instance, in August 2020, the Japanese company Nippon Flour Mills entered into the healthcare business with the launch of its eye and brain flavonoid supplements made of lutein, Ginkgo Biloba, terpene lactone, and zeaxanthin.

Some of the prominent players in the eye health supplements market include:

• The Nature's Bounty Co.
• Vitabiotics Ltd.
• Pfizer Inc.
• Amway International
• Bausch & Lomb
• Nutrivein
• ZeaVision LLC
• Kemin Industries, Inc.
• EyeScience
• Nutrachamps