NEW YORK, Feb. 21, 2022 (GLOBE NEWSWIRE) -- The global eye health supplements market was valued at US$ 2 Bn in 2019, and is expected to exhibit a CAGR of 6% over the forecast period (2019–2029).
Rising prevalence age-related macular degeneration (AMD), cataract, etc., are expected to a fuel the growth of the eye health supplements market. Also, increasing adoption of eye supplements as preventive medication among the aging population is further expected to propel the eye health supplements market.
Besides, the availability of a variety of effective eye health supplements with a refined distribution network across the world is also expected to aid market growth over the forecast period.
Increasing demand for eye health supplements in developed regions such as countries in Europe with a higher proportion of the aging population is further expected to generate significant opportunity for players in the global eye health supplements market.
Increasing investments toward product research & development with collaboration with various local distribution networks by key stakeholders in the eye health supplements market is expected to boost market growth.
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Key Takeaways of Eye Health Supplements Market Study
- Based on ingredient, owing to superior product efficacy, lutein - zeaxanthin and the antioxidants segment, together, generated over 60% market value share in the global eye health supplements market in 2018.
- Growing prevalence of age-related macular degeneration (AMD) around the world makes it the most lucrative segment under disease indication, and with the surging adoption of eye health supplements as a preventive treatment, a similar trend is expected to continue over the forecast period.
- In terms of dosage form, tablets and capsules, together, contributed around three-fourth market value share in the eye health supplements market, due to widespread availability and high adoption by patients.
- North America has captured over 1/3 market value share, and is expected to be the most lucrative region in the global eye health supplements market during the forecast period.
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“Continuous focus on the development of novel treatment options for degenerative diseases such as AMD is projected to propel the growth of the global eye health supplements market. As far as the anticipated impact of COVID-19 is concerned, the pandemic will, in fact, create greater need for enhanced immunity. With immunity boosting and preventive healthcare taking the front seat, opportunities will emerge for manufacturers of eye health supplements to communicate their role as key micronutrients,” says a PMR analyst.
Competitive Landscape of Eye Health Supplements Market
The eye health supplements market is characterized as a consolidated market space with key players across the globe, such as Vitabiotics Ltd., Pfizer Inc., Bausch Health Companies Inc., Novartis AG, Amway Corp., Alliance Pharma, and The Nature's Bounty Co. Manufacturers are actively involved in geographic expansion and acquisition of other companies to gain a larger market share in the eye health supplements market.
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Further, investments toward R&D and collaborations with different healthcare organizations to launch new product lines are key strategies being adopted by manufacturers in the eye health supplements market.
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