PMR – Eye Health Products Market to Record a Robust Growth Rate of CAGR 6.3% During 2024
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.
- Shifting Industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size Recent industry trends
- Key Competition landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
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- Pfizer Inc.
- Novartis AG
- Baush Health
- Amway Corp.
- Vitabiotics Ltd.
- Alliance Pharma
- The Nature’s Bounty Co
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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. 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).
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.
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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.
“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.
Launching Products – Imperative Strategy for Market Players
Market introduction of new products as per disease need is the major factor responsible for intense competition among market players in the global eye health supplements market. Several companies are focusing on launching preservative-free solutions to increase their product sales and expand market share.
For example, in June 2018, Bausch + Lomb, a subsidiary of Valeant Pharmaceuticals International, launched preservative-free lubricant eye drops – Soothe Xtra Protection – to meet the growing issue of dry eye disorder.
What else is in the report?
Persistence Market Research offers a unique perspective and actionable insights on the eye health supplements market in its latest study, presenting historical demand assessment of 2014–2018 and projections for 2019–2029, based on ingredient (lutein and zeaxanthin, antioxidants, omega-3 fatty acids, coenzyme q10, flavonoids, astaxanthin, alpha-lipoic acid, and other ingredients), disease indication (age-related macular degeneration (AMD), cataract, dry eye syndrome, and other indications), and form (tablets, capsules, and others), across seven key regions.
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