Eye Health Supplements Market , By Ingredients Type (Lutein and Zeaxanthin, Omega-3 Fatty Acids, Vitamin A, Beta-carotene, Bilberry Extracts, and Others), By Indication Type (Age-related Macular Degeneration (AMD), Cataract, Dry Eye Syndrome, Glaucoma, and Others), By Dosage Type (Tablets, Capsules, Soft gels, and Others) by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Key players in the global eye health supplements market are focused on adopting organic growth strategies, such as product launches, which is expected to drive the market growth during the forecast period. For instance, on January 10, 2023, ENTOD Pharmaceuticals- a research-based Ophthalmic, ENT & Dermatology Pharmaceutical Company launched nanotechnology-based ocular product range in India called Eyecirque, which includes eye supplements, lubricating eye drops, and anti-aging serums.
Global Eye Health Supplements Market - Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global eye health supplements market. The shutting down of eye clinics during the pandemic caused patients to delay the treatments for eye diseases.
Global Eye Health Supplements Market: Key Developments
Strategies like partnerships and collaborations can increase the reach of products in more regions. This is expected to boost the market growth during the forecast period.
For instance, in November 2020, Atacama Bio Natural Products S.A- a private biotechnology corporation that cultures algae to extract healthy ingredients for human use, announced its partnership with Heamin Co, Ltd- wholeseller of Synthetic Rubber and Plastics Materials in order to distribute eye health supplements such as Astaxantin in South Korea.
Browse 43 Market Data Tables and 42 Figures spread through 223 Pages and in-depth TOC on “Global Eye Health Supplements Market”- Forecast to 2030, Eye Health Supplements Market, by Ingredients Type (Lutein and Zeaxanthin, Omega-3 Fatty Acids, Vitamin A, Beta-carotene, Bilberry extracts, and Others), by Indication Type (Age-related Macular Degeneration (AMD), Cataract, Dry Eye Syndrome, Glaucoma, and Others), by Dosage Form (Tablets, Capsules, Soft gels, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/eye-health-supplements-market-3791
Key Takeaways of the Global Eye Health Supplements Market :
- The global eye health supplements market is expected to exhibit a CAGR of 7.7 % during the forecast period. The partnerships among various biopharmaceutical companies provides lucrative opportunities for the global eye health supplements market growth. For instance, on May 16, 2023, My Eyelab, a company that provides electronic optical measurements and Stanton Optical, a U.S.-based eye care company, announced the of launch of Macuhealth OTC eye care supplements in partnership with Physicians Eyecare Group, a U.S. based eye care provider.
- Among ingredients type, the lutein and zexanthin segment is expected to dominate in the global eye health supplements market over the forecast period. This is because of the amount of research and development activities carried out in this segment. For instance, according to an article published on June 13, 2023, lutein and zeaxanthin-rich diet may improve visual distance. Supplementing the diet with the two carotenoids, which build up in the retina, can improve the eye’s ability to function with blue light interference.
- Among region, North America is expected to be the dominant region in the global eye health supplements market, owing to the increasing product launch activities in this region. For instance, on June 6, 2023, Procter & Gamble, a U.S.-based multinational consumer goods corporation’s brand, VÖOST launched multi vitamin tablets for eye care with VÖOST Gummies.
- 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.
