Eye Health Supplement Market Demand Improved with An increase in the prevalence of various eye conditions

 

Eye Health Supplement

One of the primary drivers driving the Eye Health Supplement market is the rising occurrences of vision impairment and myopic population, particularly during the COVID-19 pandemic, as a result of the increased use of screens and participation in virtual meetings while working from home. High myopia puts you at risk for a variety of degenerative eye diseases such cataracts, glaucoma, and age-related macular degeneration. The market is being driven further by an increase in demand for eye health supplements among the elderly and millennials who are prone to digital eye fatigue and myopia.

The global Eye Health Supplement Market is estimated to be valued at US$ 2,258.8 million in 2020 and is expected to exhibit a CAGR of 7.7% during the forecast period (2020-2027).  According to the World Health Organization, around 2.2 billion people worldwide were diagnosed with visual impairment or blindness in 2019. Blindness rates have been found to be eight times greater in low and middle-income nations such as South Asia and western and eastern Sub-Saharan Africa than in high-income countries.

Women are likely to have a greater prevalence of eye illnesses such as cataract and AMD, especially in poor and middle-income nations. Consumers in developed nations with high per-capita expenditures, such as the United States, Canada, Australia, and the United Kingdom, spend more on healthcare goods, including eye health supplements, which is another factor driving market expansion.

Lutein and Zeaxanthin are the most often utilized antioxidants in eye health supplements. The study market is predicted to develop due to the rising launch of antioxidants by major manufacturers. Uncontrolled diabetes causes eye diseases such as diabetic retinopathy, and antioxidant supplements can help diabetes patients improve their eye health. OmniActive Health Technologies, for example, received Foods with Functional Claims (FFC) approval from Japan's Consumer Affairs Agency in September 2019 for its Lutemax 2020 Lutein and Zeaxanthin Isomers, which are taken to improve eye health and visual performance, reduce eye fatigue, and support sleep quality. As a result of the aforementioned factors, the antioxidants market is likely to increase throughout the forecast period.

The Eye Health Supplement market is likely to develop in the near future as the worldwide population's prevalence of visual impairment rises. According to the World Health Organization, around one billion individuals will have visual impairment by the year 2020. Vision loss can be caused by a variety of factors, including inherited and congenital defects, eye traumas, toxicosis, and acquired eye illnesses (cataract, glaucoma, trachoma, and disorders of cornea, optic neuropathy, disorders of choroid and retina, ametropia, amblyopia, and others).

The study market in North America is predicted to expand because to the growing geriatric population, rising diabetes incidence, and eye problems such as age-related macular degeneration (AMD), cataract, diabetic retinopathy, and other eye disorders. According to the National Eye Institute (NEI), cataract affects more than 24.4 million Americans aged 40 and over in 2018. In addition, the region's growing concentration of large players and new product releases contribute to the market's growth. In the United States, for example, Bausch + Lomb debuted Ocuvite Eye Performance in July 2019, an eye vitamin supplement made with seven important minerals that help strengthen the macula and protect the eye from stress.