ID: MRFR/Pharma/3046-HCR | 110 Pages | Published By Rahul Gotadki on March 2023
Eye Care Supplements Market Overview
The eye care supplements market is expected to reach USD 3,260.8 Million by 2030 at 8.90% CAGR during the forecast period 2022-2030. Eye care supplements are very useful for maintaining good vision and better eye health. These eye care supplements products basically consist of different nutrients and vitamins. Moreover, this supplement can be used for the treatment of different diseases like glaucoma, diabetic retinopathy, and cataracts.
Nowadays, many people are experiencing poor vision problems across the world. As per the World Health Organization (WHO) report, nearly 285 million people across the world are projected to be visually impaired. Thus, it becomes very important to improve the vision of people. One of the great methods is to utilize the dietary products extracted from both synthetic and natural sources like plants. Moreover, the eye care supplements like omega fatty acids and antioxidants are widely used across the world.
The Eye Care Supplements Market Trends reports highlights that the intended audiences are the biggest support system for the Eye Care Supplements industry, which includes eye care supplements suppliers, market research and consulting service providers, eye care supplements manufacturers, potential investors, research and development (R&D) companies, and medical research laboratories.
The creation of an extensive supply chain for supplements distribution and availability of effective eye health supplements are fuelling the Eye Care Supplements Market Size. However, the arrival of the covid-19 pandemic has impacted the growth of the global market due to the sudden shutdown, lockdown and social distancing norms worldwide. At this time, the disruption in the manufacturing chain and supply chain for supplements distribution has been witnessed in the market.
Further, the market leaders have adopted new strategic approaches to combat the covid-19 challenges. The safety measures have been taken y these players by promoting the products, which has resulted in bringing more success to the market in the present scenario. Thus, the eye care supplements market is estimated to generate the largest market share in the further coming years.
Chief Factors Existing In The Market
The increasing demand across the world is driving the eye care supplements market growth during the forecast period.
Moreover, the rising prevalence of chronic diseases like diabetes and eye diseases that have high-risk factors for eye disease is fuelling the present Market Growth.
The eye care supplements market might experience challenges due to the high cost associated with the Eye Care Supplements.
Moreover, the disruption in the supply chain and manufacturing chain due to the covid-19 outbreak is one of the major challenges for the worldwide Market during the forecast period.
The eye care supplements market has a great opportunity for the market players due to the rising demand for eye care solutions among the population. Thus, these market players are applying strategic approaches like the expansion of geographical locations to enhance global market performance.
Moreover, the rising invention of high development techniques for eye health supplements is projected to bring lucrative opportunities for the market during the research period.
The market growth might be affected due to the high cost of eye care supplements in various developing countries.
Apart from these, the eye care supplements market value might be hampered due to the strict government rules and regulations relating to the Eye Care Supplements.
Cumulative Evaluation Of The Market
As per the Eye Care Supplements Market Forecast report, the market performance has been increased at a significant rate and further estimated to expand largely in the upcoming years.
The covid-9 pandemic has disrupted the supply chain for a certain period of time, but the significant efforts of the key players have made it possible to thrive the market performance in the further coming years.
According to the Eye Care Supplements Market Analysis, the market for Eye Care Supplements has been segmented based on the application, type, and end-user.’
Based on the application segment, the market has been segregated into glaucoma, macular degeneration, eye health, Diabetic retinopathy, cataract, and others.
These applications are propelling the Eye Care Supplements Market growth based on its functionality.
The eye care supplements market has been classified into Fatty acids,neuro-protective supplements, antioxidant, anti-inflammatory supplements, and others in terms of type segment.
Further, the fatty acids segment is sub-classified into omega-6 gamma-linolenic acid. The antioxidant segment has been sub-classified into water-soluble antioxidants such as astaxanthin, zeaxanthin, lutein, and fat-soluble antioxidants (astaxanthin). The neuro-protective segment is sub-classified into eicosapentaenoic acid (EPA). On the other hand, the anti-inflammatory supplements segment has been sub-classified into docosahexaenoic acid (DHA).
The worldwide Market has been categorized into eye clinics, eye hospitals, and others in terms of the end-user segment.
Among all, both the eye clinics and eye hospitals segment is predicted to generate the largest Eye Care Supplements Market Share during the assessment period.
Globally, the Eye Care Supplements Market has been segregated based on different regions like North America, Latin America, Europe, Asia Pacific, and the rest of the world.
Among all, the American market for Eye Care Supplements is projected to hold the largest market share during the assessment timeframe due to the increasing prevalence of vision impairment among the demography and growing demand for eye care supplements in the U.S. The report of the Center for Disease Control and Prevention mentioned that approximately 14 million Americans who are above aged 12 years and older are experiencing visual impairment.
Moreover, the European Market is projected to be the second-largest market during the forecast timeframe. This region is expanding because of the adoption of prevention strategies and the availability of cost-effective treatments. The World Health Organization (WHO) report shows that approximately 60 million population in Europe are suffering from diabetes. In this region, the prevalence of diabetes is high among the population over 25 years. However, the Asia Pacific market for Eye Care Supplements is projected to expand the market at the fastest rate during the review period due to the rising prevalence of chronic diseases like obesity, diabetic retinopathy and diabetes. In addition, steady growth has been seen in the Middle East & African region in the forecast timeframe because of the available treatment options and increasing demand for ophthalmic products in the region.
Competitive Intensity Within The Industry
The Eye Care Supplements Market has higher competition among the prominent market players to show their presence across the world. These players are:
As per the report of Eye Care Supplements Market Outlook, these market leaders are focusing on strategic approaches like new product development, partnership, and merger and acquisitions to propel the market growth in the upcoming years. Moreover, these players are also investing in research and developmental activities to enhance the performance of the market for Eye Care Supplements.
Recent Market Developments
The Eye Care Supplements Market report highlights that the present market has shown significant growth in the assessment period. This report is basically the combination of both qualitative and quantitative methods that explains the market segments like applications, type, and end-users are contributing highly to enhance the performance of the global market for Eye Care Supplements during the research timeframe.
Moreover, this report has slowly covered the market overview, market dynamics, recent developments, competitive analysis, and regional analysis. Apart from this, this report has also highlighted the covid-19 outbreak situation that has negatively affected the market, but the continued efforts of the market leaders have to combat the challenges.
Key Industrial Segments
Eye care supplements market is projected to grow at a 8.90% CAGR between 2022-2030.
The Americas is expected to dominate theeye care supplements market.
Key applications of eye care supplements include glaucoma, diabetic retinopathy, cataract, macular degeneration, eye health, and others.
Notable players profiled in the eye care supplements market include Bausch & Lomb Incorporated. (US), Vitabiotics Ltd. (UK),NUSAPURE (US),Healths Harmony USA Supplements LLC (US), Bristol-Myers Squibb Company (US), Nordic Naturals Inc. (US), and Biosyntrx Inc. (US).
High cost of supplements may limit the eye care supplements market growth.