Eye Health Supplement Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Eye Health Supplement Market Analysis

The eye health supplement market is projected to register a CAGR of 6.5% during the forecast period (2022-2027).

Many countries around the world have imposed nationwide lockdowns since the World Health Organization declared Coronavirus Disease 2019 (or COVID-19) to be a pandemic on March 11, 2020. Routine healthcare services were canceled, and patients were advised to avoid hospital visits unless critically necessary, to minimize the risk of COVID-19 transmission. These trends led to significant disruption to the provision of eye healthcare services and patient care. As per the study published in October 2020, titled "The impact of COVID-19 pandemic on ophthalmology services: are we ready for the aftermath?", ophthalmology represented one of the busiest and most heavily outpatient-oriented specialties, with approximately 7.5 million outpatient appointments and more than 500,000 surgical procedures in the United Kingdom each year. The recent pandemic lockdown resulted in the cancellation of thousands of ophthalmic clinical visits and surgeries, which could potentially lead to permanent and significant harm to patients’ vision. The study also reported a significant impact of the COVID-19 pandemic on the ophthalmology service in India, with clinical and surgical services being reduced by >95%. Such a decrease in patient visits impacted the adoption of eye health supplements among the patient population. However, owing to teleconsultations and virtual care practices, the demand for eye health supplements is likely to soar to its pre-pandemic levels in the near future. Thus, in view of its elective nature, the cancellation of routine ophthalmic visits in the initial pandemic phase had an adverse impact on the market's growth. However, the market is anticipated to gain traction over the coming years.

The major drivers propelling the growth of the eye health supplement market are the increasing prevalence of eye disorders globally. The studied market is expected to be driven by the growing global geriatric population and diabetes, as uncontrolled diabetes leads to diabetic retinopathy. According to the United Nations, World Population Ageing 2019, there were 703 million people aged 65 years or over in the world in 2019, and the number is projected to double to 1.5 billion in 2050. As per the World Health Organization Statistics of 2021, globally, at least 2.2 billion people have a near-or distance vision impairment. In at least 1 billion, or almost half of these cases, vision impairment could have been prevented or has yet to be addressed. Furthermore, as per the Dry Eye Directory’s statistics for 2022, between 16 million and 49 million Americans currently have dry eyes. This is between 5-15% of the population. The increasing prevalence of eye disorders is likely to impel the demand for eye health supplements among the patient population.

Besides, the launch of innovative products is also boosting the market's growth. For instance, in July 2021, Healthy Directions announced the introduction of Vision Essentials ULTRA, a breakthrough one-a-day vision supplement in its highly popular and efficacious Whitaker Nutrition line. Likewise, in May 2021, PharmaLinea launched a line of preventative eye health supplements in consumer-friendly formats. The decision came as a result of the pandemic, which has increased screen time and contributed to an increase in eye health concerns. Also, in February 2021, Unibar Corporation announced a partnership with Health Thru Nutrition and the availability of the Health Thru Nutrition Capsanthin supplement containing CapsiClear.

Thus, owing to the aforementioned factors, the studied market is expected to propel over the forecast period. However, higher costs associated with eye health supplement products are likely to impede market growth.

Eye Health Supplement Market Trends

This section covers the major market trends shaping the Eye Health Supplement Market according to our research experts:

Antioxidant Segment is Expected to Show Better Growth over the Forecast Period

Eye Health Supplement Industry Segmentation

The eye health supplements are ocular nutraceuticals, which include vitamins, proteins, fatty acids, and others that help in improving eye health and providing better vision. These supplements play a crucial role in vision by maintaining a clear cornea, protecting the eye from damage caused by free radicals, and reducing inflammation in the eyes. The Eye Health Supplement Market is Segmented by Type (Antioxidants, Fatty Acids, Anti-inflammatory Supplements, Neuro-Protective Supplements, Others), by Indication (Age-Related Macular Degeneration (AMD), Cataract, Dry Eye Syndrome, Diabetic Retinopathy, Others), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.