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Eye supplements are the products that are taken for maintaining eye health and good vision. Apart from supporting eye health, eye supplements are also used for the treatment of diseases such as cataract, glaucoma, diabetic retinopathy, muscular degeneration, dry eye, and many others. According to WHO, in 2018, 188.5 million people have a ld vision impairment, and 217 million people have moderate to severe vision impairment with respect to distance vision. According to the National Eye Institute, 2.7 million American were suffering from glaucoma in 2014, which is estimated to reach up to 4.3 million by 2030. The rising awareness among people for eye care and healthy eye functioning have resulted in increased demand for eye supplement products. Moreover, the long working hours, exposure to pollutants and harmful agents and increased eye stress have surged the need for daily eye supplements which is likely to favor the global eye supplements market.
The growth in global eye supplement market is being driven by the increase in the prevalence of eye-related diseases, increase in geriatric population and increasing awareness among people. According to the National Eye Institute, 2.1 million of the American population had advanced age-related muscular degeneration (AMD) in 2014, which is projected to increase to 3.7 million by the year 2030.
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Also, the growth in the global eye supplement market is also being driven by advanced research for daily eye supplements. For example, Lutemax 2020, a naturally-derived ingredient present in marigold flowers is demonstrated to regulate the genes causing endoplasmic reticulum stress and protecting the sensitive photoreceptors of eyes when exposed to blue light. The study is published in Nutrients in July 2018. Similarly, Curcumin, a compound extracted from turmeric, has shown promising results in the detection and treatment of neurodegeneration implication arising in various eye conditions.
However, the presence of alternative treatment methods and episodes of product recalls are the factors that can hamper the growth of the global eye supplement market.
Some of the major companies that are present in the global eye supplement market are Vitabiotics Ltd, Novartis AG, Valeant Pharmaceuticals International Inc., Amway Corp., Alliance Pharma, Pfizer Inc., Nature's Bounty Co., Bausch & Lomb Incorporated, Butterflies Healthcare Ltd, Akorn Incorporated and other players
By Product Type
· Fatty Acids
· Anti-inflammatory Supplements
· Neuro-protective supplements
· Eye Health
· Muscular Degeneration
· Diabetic Retinopathy
By Distribution Channels
· Hospital Pharmacy
· Retail Pharmacy
· Online Pharmacy
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Based on form, the liquid segment is estimated to dominate the global eye supplements market owing to the high demand for liquid eye supplements, more effective results and new product launches.
North America is expected to account for the highest share in the global eye supplement market during the forecast duration owing to the better availability of eye products, presence of domestic manufacturers and increased R&D spending. According to American Academy of Ophthalmology in 2011, 2.71 million people of U.S. had primary open-angle glaucoma (POAG) which is projected to be 7.32 million by 2050, which is likely to favor the global eye supplements market in North America. The growth in eye supplements market in Asia Pacific is likely to propel at an exponential rate owing to the rising concern on eye health and improving accessibility and affordability for eye care products.