Eye Health Supplements Market Size and Trends Report by 2031
The eye health supplements market size is projected to reach US$ 3.06 billion by 2031 from US$ 1.88 billion in 2023. The market is expected to register a CAGR of 6.1% in 2023–2031.
Rise in lifestyle-induced diseases due to increased utilization of smartphones, laptops, and computers are likely to remain key eye health supplements market trends.
Eye Health Supplements Market Analysis
The increased usage of screens and participation in online discussions while working from home has increased the prevalence of myopia and vision impairment. The global eye health supplements market is being driven by the growing need for eye health products among the elderly and millennial generation, who are more likely to experience digital eye strain and myopia. An increase in the occurrence of various eye conditions, including inflammation, dry eye disease, cataracts, and age-related macular degeneration, are driving the growth of the market. Additionally, the intake of eye health supplement considerably improves eye vision and health, due to which ophthalmologists recommend eye health supplements to prevent and treat these conditions. The benefits of health supplements and their associated nutritional components to deal with eye conditions are projected to offer lucrative opportunities for the growth of the eye health supplements market.
Eye Health Supplements Market Overview
The eye health supplements include lutein & zeaxanthin, omega 3 fatty acids, vitamin A, gamma-linolenic acid, and others. These nutritional supplements help to enhance eye function, reduce the development of age-related eye diseases, and protect the eyes against harmful light. These supplements can be beneficial for a range of eye diseases, such as dry eye diseases, age-related macular degeneration, glaucoma, diabetic retinopathy, and cataracts. According to a study published by the Canadian Ophthalmological Society in 2020, around 1 million people in Canada suffer from age-related macular degeneration. Moreover, the aging population is poised to become one of the most significant factor with a heavy impact on the global social and economic level. According to data from Worldbank, the share of the geriatric population in Japan was about 28.4% in 2020. As per the National Statistical Office Elderly in India report of 2021, India's senior population aged 60 and above is estimated to reach 194 million by 2031 from 138 million in 2021, amounting to a 41% increase. The aging population is more susceptible to various ocular diseases; thus, ophthalmologists are recommending the use of eye health supplements for the prevention and treatment of these disorders, which in turn fuels the growth of the market. The rising geriatric population is expected to increase the demand for eye health supplements in the coming decade.
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Eye Health Supplements Market: Strategic Insights
Market Size Value in US$ 1,572.33 Million in 2019 Market Size Value by US$ 2,382.96 Million by 2027 Growth rate CAGR of 5.5% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Eye Health Supplements Market: Strategic Insights
| Market Size Value in | US$ 1,572.33 Million in 2019 |
| Market Size Value by | US$ 2,382.96 Million by 2027 |
| Growth rate | CAGR of 5.5% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Eye Health Supplements Market Drivers and Opportunities
Growing Prevalence of Eye Diseases to Drive the Market Growth
The growing prevalence of eye disorders and abnormalities is anticipated to drive the adoption of eye health supplements. Age-related macular degeneration, glaucoma, cataract, eye allergies, diabetic retinopathy, amblyopia, and strabismus are commonly observed eye disorders in global population. As per the National Glaucoma Research data, the number of people suffering from glaucoma is anticipated to rise from ~80 million in 2020 to ~111 million by 2040. Additionally, 50% of people having glaucoma are unaware of their condition, and 90% of glaucoma cases in developing nations go undiagnosed. It is also the prominent cause of irreversible blindness among the US population, and more than 3 million Americans have glaucoma, as per the Glaucoma Research Foundation.
According to the 2021 NCBI article titled “Global Prevalence of Diabetic Retinopathy and Projection of Burden through 2045,” the number of adults with diabetic retinopathy across the globe was ~103.12 million in 2020 and is expected to reach ~160.50 million by 2045. The intake of eye health supplements considerably improve the eye vision and health and certain nutritional components, such as vitamin A, vitamin B, vitamin C, vitamin D, Omega-3 essential fatty acids, lutein & zeaxanthin, and zinc, play a major role in improvement of eye health and vision. Thus, the high prevalence of eye conditions is anticipated to drive the demand and adoption of eye health supplements, thereby driving the market growth.
Rising Launch of Eye Health Supplements to Favor Market Growth
The market is anticipated to grow as more eye health supplements are introduced to address the unmet needs of patients with vision impairment worldwide. This is expected to boost sales of supplements for eye health even further in the future. For instance, Bausch + Lomb introduced PreserVision AREDS 2 Formula soft gels plus coenzyme Q10 (CoQ10) in the US market in 2023. Developed as a convenient two-in-one option, PreserVision AREDS 2 Formula eye vitamins plus CoQ10 is the only eye vitamin that combines the exact nutrient formula recommended by the National Eye Institute to help reduce the risk of moderate to advanced age-related macular degeneration progression in age-related macular degeneration patients with CoQ10 to support heart health.
Eye Health Supplements Market Report Segmentation Analysis
Key segments that contributed to the derivation of the eye health supplements market analysis are ingredient type, form, and indication.
- Based on ingredient type, the eye health supplements market is divided into lutein and zeaxanthin, antioxidants, omega-3 fatty acids, coenzyme Q10, flavonoids, astaxanthin, alpha-lipoic acid, and others. The lutein and zeaxanthin segment held the largest market share in 2023. In addition, the flavonoids segment is anticipated to register the highest CAGR during the forecast period.
- By form, the market is segmented into tablet, capsule, and drops. The capsule segment held the largest share of the market in 2023 and is projected to register the highest CAGR during the forecast period.
- In terms of indication, the market is categorized into age-related macular degeneration, cataract, dry eye syndrome, and others. The age-related macular degeneration segment held the largest market share in 2023. In addition, the dry eye syndrome segment is anticipated to register the highest CAGR during the forecast period.
Eye Health Supplements Market Share Analysis by Geography
The geographic scope of the eye health supplements market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the eye health supplements market. According to the National Health and Wellness Survey data published in 2020, 6.8% of the adult population was diagnosed with dry eye disease in the US. Due to the growing burden of eye diseases such as cataracts, glaucoma, diabetic retinopathy, and age-related macular degeneration, the increasing geriatric population, the growing product awareness, and the presence of significant market players in the region, North America accounted for the largest share in 2023. The growing adoption of dietary supplements and nutritional products, implementation of eye care and eye health programs, and market introduction of new products are the key factors contributing to the dominance of the North America eye health supplements market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Eye Health Supplements Market News and Recent Developments
The eye health supplements market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for eye health supplements and strategies:
- In January 2023, Bausch + Lomb Corporation announced the US introduction of PreserVision AREDS 2 Formula mini soft gels with OCUSorb. Offering a proprietary composition of lutein and zeaxanthin, OCUSorb has been clinically shown to provide superior absorption of these nutrients into the body as compared to the original PreserVision AREDS 2 mini soft gel formula. (Source: Bausch + Lomb Corporation, Press Release, 2023)
Eye Health Supplements Market Report Scope
Eye Health Supplements Market Report Coverage and Deliverables
The “Eye Health Supplements Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Ingredient Type , Form , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, RoAPAC, RoE, RoMEA, RoSCAM, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
- Nordic Naturals
- Herbalife Nutrition Ltd
- The Nature's Bounty Co
- AMWAY
- Pfizer Inc.
- Alcon Inc.
- Bausch Health Companies Inc.
- Vitabiotics Ltd
- Alliance Pharma PLC
- Allergan PLC
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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