Global Eye Health Supplement Market Size, Segmentation, Trends and Growth Analysis Forecast by 2030

Eye Health Supplement Market Overview and Analysis:

The global market for eye health supplements market stands at USD 2.4 billion in 2022, and is expected to register a CAGR of 7.25 over the forecast period, 2023-2030.

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Eye health supplements are dietary products formulated with specific nutrients and compounds intended to support and maintain the health of the eyes. These supplements typically contain vitamins, minerals, antioxidants, and other bioactive substances that are believed to contribute to the overall well-being of the eyes and may help prevent or manage certain eye conditions.

The global population is aging, leading to a rise in age-related eye conditions such as macular degeneration, cataracts, and glaucoma. As individuals age, there is an increased focus on preventive healthcare, including the use of eye health supplements to maintain and support vision. Moreover, the prevalence of eye diseases and disorders, including myopia, dry eye syndrome, and diabetic retinopathy, is on the rise. This has heightened awareness about the importance of proactive eye care, driving the demand for supplements that contain nutrients beneficial for eye health.

Eye Health Supplement Market Trends:

With the pervasive use of digital devices, there's a growing trend in the eye health supplements market towards products that specifically address the potential harmful effects of blue light emitted from screens. Supplements containing ingredients like lutein and zeaxanthin are gaining popularity due to their potential to support eye health in the context of increased screen time. Moreover, companies are developing eye health supplements tailored to specific age-related concerns. Formulations may vary to address different age groups, with a focus on preventing or managing conditions like macular degeneration, cataracts, and dry eyes. These trends collectively shape the eye health supplements market, reflecting the dynamic nature of consumer preferences, health awareness, and advancements in the formulation of supplements for optimal eye care.

Market Segmentation: The Eye Health Supplement Market is Segmented by Type (Antioxidants, Fatty Acids Anti-inflammatory Supplements, Neuro-Protective Supplements, and Others), Indication (Age-Related Macular Degeneration (AMD), Cataract, Dry Eye Syndrome, Diabetic Retinopathy, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.

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COVID-19 Impact on Eye Health Supplement Market:

The initial phase of the COVID-19 pandemic had a profound impact on ophthalmic care, as highlighted by a March 2021 study published in PubMed. In the United Kingdom, outpatient clinic appointments for ophthalmology saw an 87.2% reduction, while outpatient referrals and ward reviews decreased by 50.2% and 50%, respectively, during the first peak of the pandemic. The study reported 1,377 canceled appointments, with 6.8% of them considered suitable for teleophthalmology. Additionally, a May 2021 study published by BMC Ophthalmology revealed a 62% decline in retina clinic volume during the COVID-19 health emergency. Notable changes included a 79% reduction in the average time from check-in to technician, a 46% decrease in total visit length, and a 53% reduction in time spent in the provider phase of care. These statistics underscore the significant disruptions and adaptations experienced in ophthalmic care due to the pandemic, affecting various aspects of patient interactions and clinical processes. Consequently, the overall ophthalmology care market, including the usage of eye health supplements, experienced a considerable downturn in the initial phases of the pandemic. However, with the subsiding of the pandemic, ophthalmic care has gradually returned to normalcy. As a result, the studied market is expected to regain its momentum and exhibit standard growth during the forecast period.

Market Driving Factors

Increasing Prevalence of Eye Disorder Coupled With Growing Geriatric Population

The escalating prevalence of eye disorders, coupled with a burgeoning geriatric population, presents a dual challenge to global healthcare systems. The rise in eye-related conditions, encompassing ailments such as cataracts, glaucoma, and age-related macular degeneration, is a significant public health concern. As populations age, the incidence of these ocular conditions tends to increase, contributing to a growing burden on healthcare resources. The ageing process itself is a predisposing factor for various eye disorders, making the geriatric demographic particularly susceptible. The intricate interplay of biological, environmental, and lifestyle factors further amplifies the risk, necessitating comprehensive approaches to address the evolving landscape of eye health.

As of March 2022, the World Health Organization (WHO) has reported that trachoma remains a significant public health concern in 44 countries, contributing to the blindness or visual impairment of approximately 1.9 million individuals worldwide in 2022. Consequently, the rising prevalence of ophthalmic diseases globally is anticipated to drive market growth throughout the forecast period outlined in the study.

Increased Usage of Screens and Monitors in Daily Routine

The pervasive integration of screens and monitors into our daily routines has become a defining characteristic of the modern lifestyle. Whether for work, education, entertainment, or communication, people are increasingly reliant on digital devices, contributing to a surge in screen time. While this technological evolution has undoubtedly brought numerous benefits, it has also raised concerns about its potential impact on eye health. The extended periods of screen exposure are associated with various ocular issues, collectively referred to as digital eye strain or computer vision syndrome. Symptoms may include eye fatigue, dryness, blurred vision, headaches, and difficulty focusing. The prevalence of these symptoms has spurred interest in proactive measures to support and maintain eye health, leading to a growing market for eye health supplements. For instance, an article published by Frontiers in 2021, reported that Over the past two decades, there has been a dramatic surge in the utilization of digital technology. This has led to an increased duration of screen time, a trend that is raising significant apprehensions. Digital technology encompasses the use of electronic devices to store, create, or manipulate data. It enables communication and virtual interactions through social media platforms via the internet (Vizcaino et al., 2020). Electronic devices encompass a broad range, including computers, laptops, palmtops, smartphones, tablets, or any similar devices featuring a screen.

Market Restraints

High Cost of Eye Care Supplements

The rapid expansion of the eye health supplements market faces a notable impediment in the form of the high cost associated with these supplements, which is hindering its growth trajectory. As consumers increasingly recognize the importance of proactive eye care and seek solutions to address the challenges posed by modern lifestyles, the financial barrier becomes a significant consideration.Eye health supplements often incorporate a blend of vitamins, minerals, and antioxidants, and the formulation of these products involves careful research and development. As a result, the production costs tend to be relatively high, leading to a premium pricing structure for many eye health supplements. The elevated price points can deter a portion of the consumer base, limiting accessibility and adoption, particularly among price-sensitive demographics. Thus, such factors are slowing down the growth of the studied market over the forecast period.

Segmental Analysis :

Antioxidant segments are Expected to Witness Significant Growth Over the Forecast Period

Antioxidants play a crucial role in protecting cells from damage caused by free radicals, which are unstable molecules that can harm cells and contribute to various diseases, including those affecting the eyes. Antioxidants, such as lutein and zeaxanthin, are specifically beneficial for eye health. They help protect the eyes from oxidative stress and reduce the risk of age-related macular degeneration (AMD) and cataracts. Some antioxidants have anti-inflammatory properties, helping to mitigate inflammation in the body. Chronic inflammation is linked to various health issues, and antioxidants can contribute to overall well-being. Thus, owing to such benefits, the segment is expected to witness significant growth over the forecast period.

Diabetic Retinopathy Segments is Expected to Witness Significant Growth Over the Forecast Period

Diabetic retinopathy is a serious eye condition that affects individuals with diabetes. It results from damage to the blood vessels of the retina, the light-sensitive tissue at the back of the eye. Over time, high blood sugar levels associated with diabetes can weaken and damage the tiny blood vessels in the retina, leading to various complications, including vision impairment and blindness if left untreated. Eye care supplements play a significant role in managing diabetic retinopathy and promoting overall eye health in individuals with diabetes. While these supplements cannot cure the condition, they may provide supportive nutrients that can help alleviate symptoms and potentially slow down the progression of the disease.

An update published by WHO in 2023, reported that about 422 million people worldwide have diabetes, the majority living in low-and middle-income countries, and 1.5 million deaths are directly attributed to diabetes each year. Both the number of cases and the prevalence of diabetes have been steadily increasing over the past few decades. Thus, high number of diabetes cases may lead to an increase in diabetes retinopathy cases, which may increase the demand for eye supplements products, thereby fueling the growth of the studied market.

North America Region is Expected to Witness Significant Growth Over the Forecast Period

The anticipated growth of the eye health supplement market in North America is underpinned by several key factors. The surge in the aging population, coupled with the escalating prevalence of diabetes and various eye disorders such as age-related macular degeneration (AMD), cataracts, and diabetic retinopathy, is projected to be a major driver for market expansion. A notable example is AMD, which, according to a November 2022 update by NORC at the University of Chicago, stands as the primary cause of vision loss among Americans over 50 years old. The report further indicates that approximately one in 10 Americans aged 50 and older exhibit early signs of AMD, with one in 100 facing the more severe late-stage form, emphasizing the widespread impact of these eye conditions. The growing elderly population is also expected to contribute significantly to market growth. According to World Bank Group data in 2022, the percentage of the population aged 65 and above relative to the total population is substantial in North American countries, with 17.04% in the United States, 18.56% in Canada, and 7.83% in Mexico. Canada, for instance, has an estimated 18.8% of its total population aged 65 and older, as reported by Statistics Canada in July 2022. Given that the elderly demographic is more susceptible to ophthalmic diseases, this demographic trend is poised to propel market expansion. Furthermore, the market in North America is benefiting from the increased concentration of major players and their strategic product launches in the region. A case in point is TJ Nutrition, a Texas-based nutraceutical company, which, in December 2021, introduced Parasym Plus Eyes. This patented compound has demonstrated scientific efficacy in boosting tear production while reducing inflammation. By enhancing both lacrimal and vagus nerve function, Parasym Plus Eyes aims to enhance systemic and ocular health simultaneously. Thus, with the convergence of factors such as the growing incidence of eye disorders, an ageing population, and strategic advancements by market players, North America is poised to make a substantial contribution to the eye health supplement market throughout the forecast period.

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Eye Health Supplement Market Competitive Landscape:

The market for eye health supplements is characterized by significant fragmentation, featuring numerous major players that wield substantial influence. Additionally, there is a notable presence of small and medium-sized enterprises actively engaged in research and development endeavors, aiming to establish their presence in the analyzed market. This dynamic landscape is poised to contribute to considerable growth throughout the forecast period. Some of the market players working in this market segment are:

• Bausch Health Inc. (Bausch & Lomb Incorporated)
• Amway International
• Akorn Consumer Health
• Vitabiotics Ltd
• ZeaVision, LLC
• Nature's Bounty Co.
• Nutrivein
• Kemin Industries, Inc.
• Basic Brands Inc.
• Zenith Labs
• Performance Lab Ltd.
• Nuzena LLC

Recent Developments:

1) In February 2023, Herbalife Nutrition India made its foray into the eye health sector with the introduction of a new product named Ocular Defense. This scientifically formulated product incorporates a blend of lutein and zeaxanthin.

2) In April 2022, Wellbeing Nutrition, a prominent research-based wholefood nutrition company in India, unveiled 'Melts Eye Care,' an all-natural Eye Vitamin.

Frequently Asked Questions (FAQ) :

Q1. What was the Eye Health Supplement Market size in 2022?

Q2. At what CAGR is the Eye Health Supplement market projected to grow within the forecast period?

Q3. What are the factors driving the Eye Health Supplement market?

Q4. Which region has the largest share of the Eye Health Supplement market? What are the largest region's market size and growth rate?