Eye Health Supplement Market Size

Eye Health Supplement Market Analysis

The eye health supplement market is projected to register a CAGR of 6.5% during the forecast period.

The COVID-19 pandemic significantly impacted ophthalmic care during the initial phase. For instance, according to a study published by PubMed in March 2021, a study was conducted in the United Kingdom which showed that outpatient clinic appointments for ophthalmology were reduced by 87.2%, outpatient referrals were reduced by 50.2%, and ward reviews by 50% during the first peak of the pandemic. The article also stated that there were 1,377 canceled appointments, with 6.8% of them deemed appropriate for teleophthalmology. Moreover, according to another study published by BMC Ophthalmology in May 2021, during the COVID-19 health emergency, retina clinic volume fell by 62%. The average time from check-in to technician has decreased by 79%, total visit length has decreased by 46%, and time spent in the provider phase of care has decreased by 53%. Thus, owing to the pandemic, the overall ophthalmology care market was significantly impacted during the initial pandemic phase, which reduced the usage of eye health supplements as well. However, as the pandemic has subsided, ophthalmic care has gone back to normal, so the studied market is expected to have normal growth during the forecast period of the study.

The major drivers propelling the growth of the eye health supplement market are the increasing prevalence of eye disorders, the growing geriatric population and high incidence of diabetes, and the increased usage of screens and monitors in the daily routine of people.

According to the data updated by WHO in March 2022, trachoma is a public health problem in 44 countries and is responsible for the blindness or visual impairment of about 1.9 million people globally in 2022. Thus, the increasing burden of ophthalmic diseases around the world is expected to boost the growth of the market during the forecast period of the study.

Furthermore, according to the World Population Prospects: 2022, published by the UN in 2022, it is estimated that the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. It is also estimated that by 2050, the number of persons aged 65 years or over worldwide is projected to be more than twice the number of children under age 5 and about the same as the number of children under age 12. As a person grows older, his eyes become weaker, which makes him more prone to ophthalmic diseases. Thus, all of the above statistics indicate that the world's population is aging, which is expected to enhance future market growth, as ophthalmic diseases are often associated with old age, which will also increase the usage of eye health supplements.

Additionally, the launch of innovative products is also boosting the market's growth. For instance, in January 2022, Entod Pharmaceuticals, a research-based pharmaceutical company with over four decades of ophthalmology, ENT, and dermatology medicine expertise, launched the Macusaff capsule, a saffron-based eye care supplement in India. 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 signed a partnership with Health Thru Nutrition and the availability of the Health Thru Nutrition Capsanthin supplement containing CapsiClear.

Thus, owing to the aforementioned factors, such as the increasing prevalence of eye disorders, the rising geriatric population, and the key development by market players, the studied market is expected to experience growth over the forecast period. However, higher costs associated with eye health supplement products are likely to impede market growth.