Global Market Insights, Inc. has launched a report on Eye Health Ingredients Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
Exposure to toxic material along with hectic lifestyles are the major factors affecting the human eyesight. Necessity to maintain perfect “20/20” vision has enhanced the eye health ingredients market growth.
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Prevalence of glaucoma, macular degeneration, cataracts and other diseases will propel the eye health ingredients market. Increasing exposure to the digital screens along with poor diets have enhanced the consumers to take protective measures. Product innovations including vision supplements for visually-impaired people to protect the remainder of their vision are the key factors driving the industry growth.
Increasing product usage in the treatment of Age-Related Macular Degeneration (AMD) has enhanced the product scope. As per AMD Alliance International, globally around 26 to 32 million people are suffering from AMD.
Increased customer spending on nutritional products along with regulatory support for vision improving supplements has positively influenced the industry growth. Rising aging population across the world will drive the eye health ingredients market revenue. Increased launches of the dietary supplements by the industry players based on the consumer requirement will support the product demand.
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Bilberry extracts will be worth over USD 25 million by 2024. Potential application outlook in healthcare industry to treat vision disorders will enhance the product penetration. Retinal health enhancement and blood sugar level maintenance are the key substantial benefits.
Demand for animal eye health ingredients market will witness over 7% growth up to 2024. Preventive care among owners of pet and commercial animal will remain a key driving factor for the segment.
Shifting consumer preference towards naturally sourced products will drive the industry growth. Synthetic eye health ingredients market is driven by low processing costs with high benefits which will impact natural eye health ingredients market price trend.
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High surgery costs are the factors influencing consumers toward OTC supplements to avoid substantial costs on clinical treatments. Development and innovation in terms of product personalization and customization will be a key strategy for the nutraceutical industry.
Eye Health Ingredients Market, By Source
Eye Health Ingredients Market, By Ingredient
- Beta Carotene
- Vitamin A
- Bilberry Extracts
- Others (Vitamin C, Vitamin E, Zinc & Omega-3 fatty acids, Astaxanthin)
Age related macular degeneration treatment is the leading segment for the product consumption. Rising dry eye syndrome diseases globally is another factor fueling the eye health ingredients market.
U.S. eye health ingredients market could witness over 5% growth through to 2024. Growing consumer health consciousness coupled with increasing product launches will drive the regional demand. Low vision and blindness is observed in over 3.2 million people in the North America in 2015, which is estimated to surpass 6 million by 2024.
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Europe, led by Germany and UK will witness growth over 5.5%. High geriatric population along with increasing consumer spending on healthcare will propel the regional industry growth.
Global industry share is fragmented with large number of manufacturers including Allied Biotech, FMC Corporation, DSM and BASF. MacuShield, Alcon, Amway, Bausch & Lomb, Efamol, Solgar and Swanson are the major customers. Technological advancement and product innovations have led manufacturers to launch gummies for vision enhancement.