Global Eye Health Supplements Market By Formulation, By Indication, By Ingredient Type, By Region, Industry Analysis and Forecast, 2020
Global Eye Health Supplements Market Size is Expected to Reach $ 2. 4 billion by 2026, which corresponds to a market growth of 10% CAGR over the forecast period. Eye supplements are diet and nutritional products that help maintain eye health and vision.
New York, February 10, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces Publication of Global Eye Health Supplements Market By Formulation, Indication, Ingredient Type, Region, Industry Analysis, and Forecast, 2020-2026 report – https: // www .reportlinker.com / p06021883 /? utm_source = GNW
The dietary supplements for the eyes contain vitamin A, omega-3 fatty acids, lutein and zeaxanthin, gamma-linolenic acid, etc.
These dietary supplements are beneficial for maintaining eye function, reducing the incidence of age-related eye diseases, and protecting the eyes from harmful rays. The growth of the eye health supplement market is mainly due to the increasing incidence of eye diseases and the growing geriatric population. In addition, rising industrial developments are expected to further drive market growth in the coming years. Although the cost of eye health supplements is high and there is also a lack of product availability, these factors are hampering market growth.
The increasing cases of visual impairment and increasing myopia, mainly during the COVID-19 pandemic, due to the increased use of screens and participation in virtual meetings while working from home, are one of the main drivers driving the market. Rising cases of myopia are due to the increased risk of several progressive eye diseases, including glaucoma, cataract, and age-related macular degeneration. Growing propensity among geriatric populations and millennials to use eye health supplements, which are very susceptible to digital eye fatigue and continue to drive the market worldwide. The rise in the prevalence of numerous eye diseases, including dry eye syndrome, cataract, age-related macular degeneration (AMD) and inflammation, coupled with the increasing recommendation by ophthalmologists for the treatment and prevention of these conditions for eye health supplements, continues to fuel the market.
Based on the formulation, the market is divided into tablets, capsules, powders, capsules, and liquids. The soft gels segment is likely to show a significant growth rate in the forecast period. It is an effective form of delivery of liquid or oil-based nutritional supplements. Researchers believe that these supplements, supplied in their original form, are much more effective than modified forms. In addition, nutrients like krill oil and fish oil are mostly encapsulated in soft gels to suppress negative effects that can alter the taste and aroma of the oils.
Based on the indication, the market is segmented into Age-Related Macular Degeneration (AMD), Dry Eye Syndrome, Inflammation, Cataract, and others. The AMD segment had the largest market share in 2019. The increasing spread of AMD around the world continues to contribute to segment growth. The dry eye syndrome segment is expected to show a significant growth rate over the forecast period.
By type of ingredient
Based on the ingredient type, the market is divided into Lutein and Zeaxanthin, Antioxidants, Flavonoids, Alpha Lipoic Acid, Omega-3 Fatty Acids, Coenzyme Q10, Astaxanthin, and others. The ingredients of lutein and zeaxanthin for nutritional supplements for eye health generated the largest share of sales in 2019. This is due to the growing awareness of the benefits of nutritional supplements for zeaxanthin and lutein, which are used to prevent and treat various eye conditions such as diabetic retinopathy, AMD, uveitis, etc. and cataract. In addition, the increasing incidence of eye diseases, primarily AMD, and the increasing recommendations for these eye health supplements by clinicians, ophthalmologists, and vision scientists are also contributing to the growth of the segment.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, and Latin America, the Middle East and Africa. The Asia Pacific ophthalmic health supplement market is expected to experience a significant growth rate in the coming years. The existence of a large number of local market players providing affordable and innovative eye health supplements, and in China, India and the Philippines, the hubs for contract manufacturing of eye health supplements are steadily increasing, driving the market growth in the region.
The market research report covers the analysis of key market players. Key companies featured in the report include The Nature’s Bounty Co. (LP of the Carlyle Group), Pfizer, Inc., Alticor Inc. (Amway Corporation), Novartis AG, Kemin Industries, Inc., ZeaVision LLC ( EyePromise), EyeScience Labs, LLC, Vitabiotics Ltd., Nutrivein and NutraChamps, Inc.
Strategies Used in the Eye Health Supplements Market
October 2019: Novartis receives FDA approval for injection of Beovu (brolucizumab), also known as RTH258. This injection is used to treat wet age-related macular degeneration (AMD).
May 2019: Amway expands its nutritional portfolio for children with the launch of Nutrilite DHA Yummies. The Nutrilite DHA Yummies Soft Gel ensures that children eat healthy food because it supplies the DHA.
May 2019: EyePromise introduces Screen Shield Teen into its line of premium eye vitamins, EyePromise. Screen Shield Teen contains a chewable, natural flavored eye vitamin and fruit punch. It was developed with all-natural zeaxanthin and other nutrients to help protect children’s eyes from the negative effects of increased screen load.
May 2019: Novartis has signed an agreement with Takeda Pharmaceutical Company Limited to acquire the assets of Xiidra (Lifitegrast Ophthalmic Solution) of 5% worldwide. Xiidra is the first and only prescription treatment that treats both signs and symptoms of dry eye by reducing the inflammation caused by the disease.
December 2018: Pfizer signs an agreement with GlaxoSmithKline, a UK multinational pharmaceutical company. Under that agreement, they formed a global leader in consumer health, GSK Consumer Healthcare. The combined brand portfolio formed the world’s largest OTC business with leadership roles in respiratory and vitamins, pain relief, minerals and nutritional supplements, and therapeutic oral health.
Jun-2018: EyePromise has expanded its EyePromise Restore line with a new and improved formula that contains vitamins B6 and B12, folic acid and coenzyme Q10. Eyepromise Restore is a nutritional supplement for the eye that has been developed to protect and support the eyesight of people who suffer from, are at risk of or are at risk of age-related macular degeneration.
July 2017: Kemin Industries received Kemin ZeaONE Zeaxanthin approval from the National Commission for Health and Family Planning (NHFPC) in China. Kemin ZeaONE zeaxanthin is a natural source zeaxanthin that produces FloraGLO lutein, the world’s most researched brand of lutein and the number one lutein recommended by doctors in the United States
May 2017: Alcon, a division of Novartis, launches a chewable vitamin to aid eye health in people with age-related macular degeneration. The Systane ICaps vitamins contain the following per serving: 500 mg vitamin C, 400 IU vitamin E, 25 mg zinc, 2 mg copper, 10 mg lutein and 2 mg zeaxanthin.
July 2016: Kemin Industries receives a patent from the US Patent and Trademark Office for the role of its FloraGLO Lutein and ZeaONE Zeaxanthin products. Kemin’s patent allows vitamin and dietary supplement manufacturers to use FloraGLO and / or ZeaONE to position their products for protection from blue light. In particular, the patent covered products with eye antioxidants such as lutein and zeaxanthin, which are used to protect the eye from light-induced damage.
Scope of study
Market Segments Covered In The Report:
• Age-related macular degeneration (AMD)
• Dry eye syndrome
By type of ingredient
• Lutein and Zeaxanthin
• Alpha lipoic acid
• Omega-3 fatty acids
• Coenzyme Q10
According to geography
• North America
o Rest of North America
o Great Britain
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of the Asia Pacific region
of Saudi Arabia
o South Africa
o Rest of LAMEA
• Nature’s Bounty Co. (The Carlyle Group LP)
• Pfizer, Inc.
• Alticor Inc. (Amway Corporation)
• Novartis AG
• Kemin Industries, Inc.
• ZeaVision LLC (EyePromise)
• EyeScience Labs, LLC
• Vitabiotics Ltd.
• NutraChamps, Inc.
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