EYE HEALTH SUPPLEMENTS MARKET ANALYSIS

The global eye health supplements market is estimated to be valued at US$ 2,807.7 Mn in 2023 and is expected to exhibit a CAGR of 7.7% during the forecast period (2023-2030).

Analysts’ Views on the Global Eye Health Supplements Market:

The increasing number of  eye diseases and eye disorders are expected to boost the growth of the global eye health supplements market over the forecast period. For instance, according to data published by the World Health Organization (WHO), on October 13, 2022, at least 2.2 billion people had a near or distance vision impairment in 2022 globally.

Figure 1. Global Eye Health Supplements Market Share (%), By Ingredients Type, 2023

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Global Eye Health Supplements Market - Driver

Increasing prevalence of eye disorders and diseases

The growing incidences of eye diseases are a major factor leading to the high demand for eye supplements. For instance, according to data published in The Lancet, an independent, international weekly general medical journal, in October 2022, approximately 3 million people aged 40 years or older had Vision Threatening Diabetic Retinopathy (VTDR) in India with a higher prevalence in those with known diabetes residing in high and middle Epidemiological Transition Level (ETL) and Socio-demographic Index (SDI) states.

Introduction of newer products in the market

The increasing product launches to discover newer ways to protect eyes is projected to drive the global eye health supplements market growth. For instance, in March 2022, Kiehl's, a U.S-based cosmetics brand retailer that specializes in skin, hair, and body care products, launched anti-aging eye cream containing bilberry seed extracts and peptides.

Figure 2. Global Eye Health Supplements Market Value (US$ Million), By Region, 2023

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Source : Coherent Market Insights, 2023

Global Eye Health Supplements Market - Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global eye health supplements market over the forecast period. This is due to the increasing number of eye diseases in the adult population in the U.S. For instance, according to data published by Centre For Disease Control And Prevention, in December 2022, approximately 12 million people 40 years and over in the U.S. had vision impairment, including 1 million who are blind, 3 million who had vision impairment after correction, and 8 million who had vision impairment due to uncorrected refractive error.

Global Eye Health Supplements Market - Impact of the Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries worldwide, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the global eye health supplements market. For instance, according to an article published in PubMed, a free search engine for biological databases and reports, in October 2021, to curb the spread of COVID-19, Centers for Disease Control and Prevention (CDC) advised people not to visit eye clinics or hospitals except for emergencies. Therefore, during the COVID-19 pandemic, the demand for eye health supplements increased in order to slow down the prevalence disorders.

Global Eye Health Supplements Market Segmentation:

The global eye health supplements market report is segmented into ingredients type, indication type, dosage type, distribution channel, and region.

By ingredients type, the market is segmented into lutein and zeaxanthin, omega-3 fatty acids, vitamin A, beta-carotene, bilberry extracts, and others. Out of these, the lutein and zexanthin segment is expected to hold a dominant position in the global eye health supplements market during the forecast period owing to the increasing awareness regarding the benefits offered by lutein and zeaxanthin supplements in the prevention and effective treatment of various eye disorders, majorly AMD, diabetic retinopathy, uveitis, and cataract.

By indication type, the market is segmented into Age-related Macular Degeneration (AMD), Cataract, Dry Eye Syndrome, Glaucoma, and Others. Out of which, the Age-related Macular Degeneration (AMD) segment is expected to hold a dominant position in the global eye health supplements market during the forecast period owing to the increasing prevalence of benign and advanced age-related macular degeneration globally.

By dosage type, the market is segmented into tablets, capsules, soft gels, and others. Out of which, the tablets segment is expected to dominate the market over the forecast period owing to the ease of administration of tablets over other dosage forms.

By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Out of which, the hospital pharmacies segment is expected to dominate the market over the forecast period owing to the increasing number of patients being admitted to hospitals for eye check-ups or treatments.

By region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa out of which the North America segment is expected to dominate the market over the forecast period owing to the increasing prevalence of eye diseases and disorders in the region.

Among all the segmentations, the ingredient type segment has the highest potential due to increasing product launches in this segment. For instance, in July 2021, OmniActive Health Technologies, a company that helps nutrition brands worldwide meet the demands of the  health and wellness marketplace by delivering innovative ingredients, launched its branded Nutritears ingredient. Nutritears is a patent-pending combination of vitamin D3, curcuminoids, and lutein and zeaxanthin isomers designed for inclusion in formats like softgels, gummies, and chewables. OmniActive Health Technologies created Nutritears using its Integrated Actives platform, which enables the formulation of multiple active ingredients into a smaller, more concentrated dose.

Global Eye Health Supplements Market- Cross Sectional Analysis:

The ingredients type segment is expected to be the dominant segment the in the North America region due to the increasing prevalence of eye diseases and eye disorders. For instance, according to data published by BrightFocus Foundation, a foundation that funds research in an urgent effort to discover cures for Alzheimer's disease, macular degeneration, and glaucoma, in May 2021, nearly 20 million adults in the U.S. had some form of age-related macular degeneration.

Global Eye Health Supplements Market : Key Developments

 In April 2022, Iovate Health Sciences International Inc, a company that offers nutritional supplements, incorporated FloraGLO Lutein into their products, offered by its esports brand, which has Boost energy drink, its Zero Lag mental focus, and eye health support capsules, and its XP Sports Gummies.

In April 2021, Kyowa Kirin Co, Ltd, a Japan-based bio-technology and fermentation company, introduced the first clinically-researched paraprobiotic for eye health in the U.S. called EYEMUSE.

In April 2022, Wellbeing Nutrition, a company that  focuses on creating organic whole food nutrition by bringing together real ingredients and future-ready science, expanded its product portfolio by launchng natural eye vitamins called ‘Melts Eye Care.’

In February 2022, Amway India Enterprises Pvt. Ltd., a U.S-based Multi-level Marketing (MLM) company that sells health, beauty, and home care products, launched nutrition eye supplements in gummies and jellies strips containing lutein and zeaxanthin to support eye health.

Global Eye Health Supplements Market: Key Trends

In January 2020, Vitamin Science, a company that caters to the health wellness and fitness industry launched Visivite Blue Light Basher Ocular Supplement. VisiVite Blue Light Basher with lutein and eight additional targeted ingredients replenishes the macular pigment layer and adds additional ingredients that absorb and dissipate high energy blue light in cell phones, TVs, LED lights, and sunlight.

On February 14, 2023, Herbalife International, Inc, a global multi-level marketing corporation that develops and sells dietary supplements, announced that it had entered the eye health segment with its new product, ‘Ocular Defense.’ Ocular Defense contains a combination of lutein and zeaxanthin that is clinically proven to support the macular health of eyes and improves macular pigment optical density.

Global Eye Health Supplements Market: Restraint

Stringent regulatory guidelines

Stringent regulations for the production of eye health supplements is expected to hinder the market growth. For instance, in June 2020, Indian regulator, Food Safety and Standards Authority of India (FSSAI), alerted food safety commissioners of all the states, in order to ensure the Recommended Dietary Allowance (RDA) values of health supplements including eye health supplements, such as vitamins, minerals, and amino acids, in products. This value should not exceed the required Recommended Dietary Allowance (RDA) for the population in India. Considerble resistance from biopharmaceutical companies to reverse the guidelines in their favour can serve as an effective counterbalance to this restraint.

Lack of scientific evidence

There is no evidence from this study to suggest that taking nutritional supplements can prevent people who currently do not have vision problems from getting Age Related Macular Degeneration (AMD) in the future. For instance, according to the data published in June 2021 by Division of Epidemiology and Clinical Research at the National Eye Institute, a research institution that performs and supports vision research and education programs that protect and prolong vision, ophthalmologists should only recommend supplements if an eye exam shows yellow spots in the eye, called drusen, which is a common sign of AMD. Increased production of scientific data based on clinical trials confirming the efficacy of eye health supplements can serve as an effective counterbalance to this restraint.

Global Eye Health Supplements Market - Key Players

The major players operating in the global eye health supplements market include Pfizer Inc, Bausch Health Companies Inc, Alcon, Alliance Pharma PLC, Allied Biotech Corporation, BASF SE, Amway India Enterprises Pvt. Ltd, Butterflies Healthcare Ltd, Herbalife International, Inc, Nordic Naturals, Vitabiotics Ltd, and Akorn Operating Company LLC.

Global Eye Health Supplements Market - Definition

Eye supplements are nutritional products that contain vitamins and other nutrients that research has shown to be beneficial for maintaining eye health and good vision. Eye supplements are designed to add to the nutrients that one gets from a healthy diet.