Market Size of Eye Health Supplement Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 6.50 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Eye Health Supplement Market Analysis
The eye health supplement market is projected to register a CAGR of 6.5% during the forecast period.
The COVID-19 pandemic significantly impacted ophthalmic care during the initial phase. For instance, according to a study published by PubMed in March 2021, a study was conducted in the United Kingdom which showed that outpatient clinic appointments for ophthalmology were reduced by 87.2%, outpatient referrals were reduced by 50.2%, and ward reviews by 50% during the first peak of the pandemic. The article also stated that there were 1,377 canceled appointments, with 6.8% of them deemed appropriate for teleophthalmology. Moreover, according to another study published by BMC Ophthalmology in May 2021, during the COVID-19 health emergency, retina clinic volume fell by 62%. The average time from check-in to technician has decreased by 79%, total visit length has decreased by 46%, and time spent in the provider phase of care has decreased by 53%. Thus, owing to the pandemic, the overall ophthalmology care market was significantly impacted during the initial pandemic phase, which reduced the usage of eye health supplements as well. However, as the pandemic has subsided, ophthalmic care has gone back to normal, so the studied market is expected to have normal growth during the forecast period of the study.
The major drivers propelling the growth of the eye health supplement market are the increasing prevalence of eye disorders, the growing geriatric population and high incidence of diabetes, and the increased usage of screens and monitors in the daily routine of people.
According to the data updated by WHO in March 2022, trachoma is a public health problem in 44 countries and is responsible for the blindness or visual impairment of about 1.9 million people globally in 2022. Thus, the increasing burden of ophthalmic diseases around the world is expected to boost the growth of the market during the forecast period of the study.
Furthermore, according to the World Population Prospects: 2022, published by the UN in 2022, it is estimated that the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. It is also estimated that by 2050, the number of persons aged 65 years or over worldwide is projected to be more than twice the number of children under age 5 and about the same as the number of children under age 12. As a person grows older, his eyes become weaker, which makes him more prone to ophthalmic diseases. Thus, all of the above statistics indicate that the world's population is aging, which is expected to enhance future market growth, as ophthalmic diseases are often associated with old age, which will also increase the usage of eye health supplements.
Additionally, the launch of innovative products is also boosting the market's growth. For instance, in January 2022, Entod Pharmaceuticals, a research-based pharmaceutical company with over four decades of ophthalmology, ENT, and dermatology medicine expertise, launched the Macusaff capsule, a saffron-based eye care supplement in India. Likewise, in May 2021, PharmaLinea launched a line of preventative eye health supplements in consumer-friendly formats. The decision came as a result of the pandemic, which has increased screen time and contributed to an increase in eye health concerns. Also, in February 2021, Unibar Corporation signed a partnership with Health Thru Nutrition and the availability of the Health Thru Nutrition Capsanthin supplement containing CapsiClear.
Thus, owing to the aforementioned factors, such as the increasing prevalence of eye disorders, the rising geriatric population, and the key development by market players, the studied market is expected to experience growth over the forecast period. However, higher costs associated with eye health supplement products are likely to impede market growth.
Eye Health Supplement Industry Segmentation
As per the scope of the report, eye health supplements are ocular nutraceuticals, which include vitamins, proteins, fatty acids, and others that help in improving eye health and providing better vision. These supplements play a crucial role in vision by maintaining a clear cornea, protecting the eye from damage caused by free radicals, and reducing inflammation in the eyes. The eye health supplement market is segmented by type (antioxidants, fatty acids, anti-inflammatory supplements, neuro-protective supplements, and other types), by indication (age-related macular degeneration (AMD), cataract, dry eye syndrome, diabetic retinopathy, and other indications), and geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Type | |
Antioxidants | |
Fatty Acids | |
Anti-inflammatory Supplements | |
Neuro-Protective Supplements | |
Others |
By Indication | |
Age-Related Macular Degeneration (AMD) | |
Cataract | |
Dry Eye Syndrome | |
Diabetic Retinopathy | |
Others |
Geography | ||||||||
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Eye Health Supplement Market Size Summary
The eye health supplement market is anticipated to experience steady growth over the forecast period, driven by several key factors. The increasing prevalence of eye disorders, a growing geriatric population, and the high incidence of diabetes are significant contributors to market expansion. Additionally, the rise in screen time due to digital device usage has further fueled the demand for eye health supplements. The market, which faced challenges during the COVID-19 pandemic with reduced ophthalmic care activities, is now recovering as normalcy returns. The aging global population, particularly those over 65, is expected to enhance market growth, as age-related ophthalmic diseases often necessitate the use of supplements. Innovative product launches by companies like Entod Pharmaceuticals and PharmaLinea are also boosting market dynamics, offering new solutions to address eye health concerns.
In North America, the market is poised for substantial growth due to the increasing prevalence of eye disorders such as age-related macular degeneration, cataracts, and diabetic retinopathy, coupled with a significant elderly population. The region's market growth is further supported by the concentration of major players and ongoing product innovations, such as TJ Nutrition's Parasym Plus Eyes. The market is characterized by fragmentation, with numerous major and emerging players actively engaging in research and development to capture market share. Companies like Bausch Health Inc., ZeaVision, and Vitabiotics Ltd. are prominent in the market, while new entrants like Herbalife Nutrition India and Wellbeing Nutrition are expanding their presence with innovative products. Despite the promising growth prospects, the market faces challenges, including the high costs associated with eye health supplements, which may impede broader adoption.
Eye Health Supplement Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Eye disorders
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1.2.2 Growing Geriatric Population and High Incidence of Diabetes
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1.2.3 Increased Usage of Screens and Monitors in Daily Routine
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1.3 Market Restraints
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1.3.1 High Cost of Eye Care Supplements
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Type
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2.1.1 Antioxidants
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2.1.2 Fatty Acids
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2.1.3 Anti-inflammatory Supplements
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2.1.4 Neuro-Protective Supplements
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2.1.5 Others
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2.2 By Indication
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2.2.1 Age-Related Macular Degeneration (AMD)
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2.2.2 Cataract
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2.2.3 Dry Eye Syndrome
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2.2.4 Diabetic Retinopathy
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2.2.5 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle-East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Eye Health Supplement Market Size FAQs
What is the current Global Eye Health Supplement Market size?
The Global Eye Health Supplement Market is projected to register a CAGR of 6.5% during the forecast period (2024-2029)
Who are the key players in Global Eye Health Supplement Market?
ZeaVision, LLC., Vitabiotics Ltd , Akorn Consumer Health, Amway International and Bausch Health Inc. ( Bausch & Lomb Incorporated) are the major companies operating in the Global Eye Health Supplement Market.