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Eye Care Supplements Market Analysis

ID: MRFR//3046-HCR | 110 Pages | Author: Rahul Gotadki| May 2024

The eye care supplements industry’s market dynamics mirror a heightened consciousness and worry about eye health among customers worldwide. Supplements aimed at eye health have experienced a considerable increase in demand as people focus more on overall wellness. It is because of the global aging population that has greater incidence of age related macular degeneration and cataracts as some of the major driving factors. The eyes’ supplement market has been a talk for both buyers and sellers since many are now looking for preventive ways to maintain their sight.

Consumer education strategically steers market dynamics. With easy and quick access to information, individuals have become knowledgeable about why nutrition is essential for healthy vision. Nutrients such as lutein, zeaxanthin, omega-3 fatty acids as well as vitamins A, C, E have gained popularity due to their attracting features in preventing or delaying age-related ocular diseases. This growing awareness is responsible for the increased need for supplements that provide these types of nutrients thereby influencing the market trends in favor of products targeting these preferences.

Apart from individual awareness also healthcare practitioners have played significant roles in expanding the eye care supplements market. They usually advise on the use of supplements alongside other forms of treatment or prevention approaches whenever they participate into issues concerning eye care holistically (Ophthalmologists). As this professional endorsement increases trust among consumers, it also creates a wider market with many more people opting for preventive actions based on expert advice more so there has also been an increase in partnerships between healthcare providers and supplement manufacturers thus establishing direct link between medical community and markets.

Lifestyle changes are also shaping global market dynamics. Today’s modern lifestyles characterized by increased screen time and exposure to environmental pollutants have contributed to an increase in eye strain as well as discomforts (Scientific American). Accordingly, consumers demand for solutions addressing these contemporary challenges are rising too . Among them are digital eye strains relieving items or those which protect against harmful blue light reflecting how market is adapting to the changing needs of the population.

Regulatory factors are key in shaping the market dynamics of eye care supplements industry. The strict health claims, ingredient safety and product efficacy regulation that exist today have left room for only those products that adhere to these standards to succeed. As a result, there is an increasingly selective customer base searching for scientifically supported supplements with approved health claims (Sharma et al. 2013). In response, market participants invest in R&D yielding evidence based formulations hence creating an environment where quality and compliance prevail.

There has been intense competitive dynamics among established companies as well as new entrants in order to grab a share from rising demand. Product innovation, marketing strategies and strategic partnerships are some of the competitions aspects (Nielsen). Therefore, they continuously come up with new formulas, try out unique delivery systems and participate in promotional efforts all aimed at distinguishing their products within a saturated marketplace. Collaborations with healthcare professionals, endorsements by influencers as well as online marketing campaigns are essential for building brand visibility and driving consumer preferences.‚ÄĚ

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. 

COVID-19 Analysis

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. 

The growth of the eye care supplements market is expected to be driven during the projected period by the rising demand in all regions of the world.  In addition, the current Market Growth is being fueled by the rising prevalence of chronic diseases such as diabetes and eye diseases that have high-risk factors for eye disease.

Due to an increase in the population's need for eye care solutions, the market for eye care supplements presents a significant opportunity for the companies who participate in the market. Therefore, in order to improve their performance in the worldwide market, these market participants are employing strategic techniques such as the growth of geographical areas.

June 2023: PreserVision AREDS 2 Formula soft gels plus coenzyme Q10 will be available in the US in June 2023, it was announced by Bausch + Lomb Corporation, a major worldwide eye health firm with the mission of assisting people in seeing better so that they can live better. The PreserVision AREDS 2 Formula eye vitamins with CoQ10 are the only eye vitamins on the market that combine the exact nutrient formula recommended by the National Eye Institute (NEI) to help reduce the risk of moderate to advanced Age-related Macular Degeneration (AMD) progression in AMD patients with CoQ10 to help support heart health. These eye vitamins were developed as a convenient two-in-one option. CoQ10 is known for its ability to support heart health. AMD patients should additionally take an eye vitamin with the proven nutrient formula, such as PreserVision AREDS 2 vitamins, in order to help lower the risk of moderate to advanced AMD progression. This can be accomplished by taking two eye vitamins daily.

Chief Factors Existing In The Market

  • Key Market Drivers

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. 

  • Market Challenges

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. 

  • Market Opportunities

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. 

  • Market Restraints

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. 

Market Segmentation

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.’

  • By Application:

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. 

  • By Type:

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).

  • By end-users:¬†

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. 

In September 2022: ENTOD Beauty London and Entod Pharmaceuticals made the announcement on Wednesday that they have released their Eyecirque collection of vision boosting and under-eye skin lightening supplements. These supplements are designed to provide enhanced protection and nutrition to the eyes and the skin surrounding them. According to the manufacturer, the goods should be used for the treatment of eyes that are dry, red, and irritated as a result of the wearing of contact lenses, prolonged exposure to computer or LED screens, air conditioning, dust, pollution, smoke, or exposure to sunlight. The manufacturer of the vision-improving supplement Eyecirque asserts that it is loaded with all of the necessary anti-oxidants, vitamins, and minerals that are necessary to protect your eyes and promote good vision. It helps to give the eyes with the necessary nutrition, a enough amount of sustenance, and the highest possible level of protection.

March 2023: NovaBay Pharmaceuticals, Inc. announces the launch of OTC Avenova Eye Health Support oral supplement featuring a combination of MaquiBright, a nutrient-rich, antioxidant-dense extract of the superfruit maqui berry, and high quality, natural triglyceride omega-3 oils to comfort dry eyes and support overall eye health. The supplement will be available over-the-counter (OTC). Avenova Eye Health Support is just one more example of how NovaBay is at the forefront of innovation in the eyecare category. As we continue to develop our portfolio of evidence-led, distinctive, high-quality, and highly effective eyecare products, Avenova Eye Health Support is just one example of how NovaBay is at the forefront of innovation. The oral supplement is the newest item to be added to Avenova's line of scientifically formulated eyecare products that are aimed specifically at the market for dry eye.

Regional Analysis

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: 

  • Biosyntrx Inc. (U.S.),¬†

  • Bristol-Myers Squibb Company (U.S.),¬†

  • Nordic Naturals Inc. (U.S.),

  • NUSAPURE (U.S.),¬†

  • Healths Harmony USA Supplements LLC (U.S.),

  • Bausch & Lomb Incorporated. (U.S.),

  • Vitabiotics Ltd. (U.K.).

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

  • In June 2021, a range of preventative eye health supplements was launched by the prominent market leader PharmaLinea. This supplement has covered with consumer-friendly packaging. The company has taken the decision to launch the product because of the epidemic that has been linked to a surge in eye health concerns and increased screen time.¬†

Report Overview

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

By Application:

  • glaucoma,¬†

  • macular degeneration,¬†

  • eye health,¬†

  • Diabetic retinopathy,¬†

  • cataract,¬†

  • others

By Type:

  • Fatty acids,¬†

  • neuro-protective supplements,¬†

  • antioxidant,¬†

  • anti-inflammatory supplements,¬†

  • others

By end-users: 

  • eye clinics,¬†

  • eye hospitals,¬†

  • others

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