Eye Care Supplements Industry Insight (2016-2023), Company Profiling, Pricing Analysis, Product Benchmarking, and Strategies
Eye Care Supplements Market Analysis by Market Research Future (MRFR). The global market expected to grow at a CAGR of 10.8% during forecast period 2017 to 2023. The industry report is segmented on the basis of type, application, end user, and region.
Eye Care Supplements Market Overview
Eye care supplements aid in improvising eye health and are being increasingly adopted by consumers worldwide. A combination of various factors including demographic, epidemiological factors, and changing lifestyle is set to drive the eye care supplements to the foreground of consumer interest. Market Research Future (MRFR), has published an in-depth report on the global eye care supplements market. The report states that the eye care supplements market is poised to capture a CAGR of 10.8% over the forecast period of 2017-2023.
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With various health condition, such as obesity, diabetes, allergies becoming prevalent across the globe, the eye health of the global population has witnessed a decline. To add to it, lifestyle changes such as smoking and excessive use of gadgets, which expose the eyes to UV rays, have intensified the problem to a great extent. Consequently, cataracts, diabetic retinopathy, glaucoma and other eye disorders have become very common, which induces the need for eye care supplements.
World's leading economies are greying rapidly. The aged demographic generally suffer from various diseases, diabetes being the most common, which significantly affects the vision of an individual. Age-related macular degeneration (AMD), as the name suggests, is also very common among elderly people. The rise in geriatric population is a key factor influencing the growth of the eye care supplements.
Rise in the incidence rate of various eye disorders have created visibility of various eye care supplement products. The market players are not only expanding their product offerings but are also driving innovation within the market. Eye care supplements, eye drops, in particular, are invariably difficult to self-administer. Eye mists are the latest innovative addition to the eye care supplements market, which is anticipated to broaden the scope of market growth over the forecast period.
On the other hand, over-the-counter (OTC) allergy and eye care products are restricted in a number of markets, which subdues the growth of the eye care supplements market.
Eye Care Supplements Market Segmentation
The eye care supplements market has been segmented based on type, application, and end user.
By type, the eye care supplements market has been segmented into antioxidant, fatty acids, anti-inflammatory supplements, neuro-protective supplements and others. The antioxidants segment has been further segmented into water -soluble antioxidants including lutein, zeaxanthin, astaxanthin, and fat-soluble antioxidants including astaxanthin. The fatty acids segment has been further segmented into omega-6 gamma-linolenic acid. The anti-inflammatory supplements segment has been further segmented into docosahexaenoic acid (DHA). The neuro-protective segment has been further segmented into eicosapentaenoic acid (EPA).
By application, the eye care supplements market has been segmented into eye health, macular degeneration, cataract, diabetic retinopathy, glaucoma, and others.
By end user, the eye care supplements market has been segmented into eye hospitals, eye clinics, and others.
Regional Analysis
Asia Pacific (APAC), Europe, the Americas, and the Middle East & Africa (MEA) are regions taken into considerations during the compilation of the global eye care supplements market.
The Americas is one of the biggest regions of the market with the highest potential for growth. High prevalence of eye problems and vision impairment among patients in the U.S can drive the regional demand for eye care supplements. On the other hand, Europe held close to 35% market share in 2016. It can attain significant revenue for the global market due to formulation of cost-effective prevention strategies.
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Competitive Landscape
NUSAPURE (U.S.), Bausch & Lomb Incorporated. (U.S.), Bristol-Myers Squibb Company (U.S.), Vitabiotics Ltd. (U.K), Healths Harmony USA Supplements LLC (U.S), Biosyntrx Inc. (U.S.), and Nordic Naturals Inc. (U.S.) are key players in the eye care supplements market.
Industry Updates
July 2019 - Bausch + Lomb, a pioneer of eye health products, expanded its portfolio of eye vitamins with the launch of Ocuvite Eye Performance vitamins in the US. The Ocuvite Eye Performance vitamin is a nutritional supplement that has been designed to provide essential nutrients to eyes that would help strengthen its natural protective filter.
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