Yahoo Finance Global Eye Health Supplement Market to surpass US$ 3,803.4 million by 2027, Says Coherent Market Insights (CMI)
SEATTLE, May 27, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, 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).
Key Trends and Analysis of the Global Eye Health Supplement Market:
The increasing number of research and development activities by research institutes is expected to drive growth of the eye health supplement market during the forecast period. For instance, in February 2019, the National Eye Institute (NEI) conducted follow-on Age-Related Eye Disease Study (AREDS) to AREDS2 study, in order to test the effect of nutritional supplements on preventing or slowing of cataract and age-related macular degeneration (AMD).
Moreover, increasing number of product launch is expected to boost growth of the global eye health supplement market. For instance, in April 2020, Unibar Corporation launched CapsiClear, a capsanthin ingredient for eye formulations. It works synergistically with zeaxanthin and cryptoxanthin, and protect eyes from the negative effects of blue light.
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Various companies are entering the market through organic growth strategies such as business expansion. For instance, on January 5, 2021, Hi-Health, a company headquartered in the U.S., launched a new division for eye care. The new division will focus on providing eye care professionals and their patients (suffering from advanced age-related macular degeneration and dry eye syndrome), with a complete line of products including eye health supplements under the Vista brand.
Furthermore, increasing number of product launch will drive the growth of the global eye health supplement market. For instance, in 2019 Bausch + Lomb, a subsidiary of Bausch Health Companies Inc., launched PreserVision AREDS 2 Formula minigel eye vitamins. It has been recommended by the National Eye Institute (NEI), for people with moderate to advanced age – related macular degeneration (AMD).
Key Market Takeaways:
The global eye health supplement market is expected to exhibit a CAGR of 7.7% during the forecast period (2020-2027), owing to the rising number of approvals and launches are major factors that propel growth of the North America eye health supplement market. For instance, in June 2018 Bausch + Lomb launched Ocuvite Blue Light eye vitamins, containing lutein and zeaxanthin. It helps in protecting eyes from the blue light that reaches the macula, which is responsible for central vision.
The increasing prevalence of Glaucoma in the U.S. is expected to drive growth of the market over the forecast period. For instance, according to American Academy of Opthalmology, a 30 year forecast was conducted by American Academy of Ophthalmology for prevalence of primary open angle glaucoma in the U.S., and it is expected that 5.57 million people will be affected by open angle glaucoma by 2030 and 7.32 million people by 2050 in US.
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Competitive Landscape:
Key players operating in the global eye health supplement market include: Pfizer, Inc., Bausch Health Companies Inc., Alcon Laboratories, Inc., Alliance Pharma PLC, Allied Biotech Corporation, BASF SE, Amway Corp., Butterflies Healthcare Ltd., Herbalife Nutrition Ltd., SUSS Technology Corp., EyeScience Labs, Nordic Naturals, Vitabiotics Ltd., and Akorn Incorporated.
Market Segmentation:
Global Eye Health Supplement Market, By Ingredients Type:
Lutein and Zeaxanthin
Omega-3 Fatty Acids
Vitamin A
Beta- carotene
BilBerry extracts
Others
Global Eye Health Supplement Market, By Indication Type:
Age-related Macular Degeneration (AMD)
Cataract
Dry Eye Syndrome
Glaucoma
Others
Global Eye Health Supplement Market, By Dosage Type:
Tablets
Capsules
Soft Gels
Others (powders, gummies, liquids)
Global Eye Health Supplement Market, By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Global Eye Health Supplement Market, By Region:
North America
By Country:
U.S.
Canada
Europe
By Country:
U.K.
Germany
Italy
Spain
France
Russia
Rest of Europe
Asia Pacific
By Country:
Australia
India
China
Japan
ASEAN
South Korea
Rest of APAC
Latin America
By Country:
Brazil
Mexico
Argentina
Rest of Latin America
Middle East
By Country:
GCC
Israel
Rest of Middle East
Africa
By Country/Region:
South Africa
Central Africa
North Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
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