Eye Disorders Backed by More On-screen time to Catalyze the Eye Health Products Market
Published On : Apr 05, 2021
The occurrences of vision impairment have been increasing unexpectedly in the last few years. Apart from the growing myopic population, the increasing frequency of attending virtual meetings while working from home has, in turn, led to increased risk of macular degeneration, glaucoma, and cataract. This calls for more utilization of eye health products, thereby driving the eye health products market in the years to come.
Plus, the WHO has put forth the data that close to 2.2 Bn people worldwide have blindness or vision impairment. Along these lines, October 2019 witnessed launching of “PreserVision AREDS 2 Formula minigel” eye vitamins all across the US by Bausch + Lomb. Those having advanced AMD can be best served by these eye health supplements.
Also, NutraIngredients has published that online sales regarding eye health supplements have increased by close to 48% since Mar 2020 (the onset of Covid-19). Softgels are also being recommended by ophthalmologists. They contain krill oil and fish oil.
Dispersion of Eye Health Products Market
The eye health products market, by ingredient, spans antioxidants, lutein and zeaxanthin, Omega-3 fatty acids, coenzyme Q10, flavonoids, astaxanthin, alpha-lipoic acid, and others. By diagnosis, it says cataract, AMD (Age-related Macular Degeneration), dry eye syndrome, and others. On the basis of form, it’s capsules, tablets, and others. Out of these, astaxanthin dominates the market due to scoring higher than its counterparts with respect to antioxidants.
Apart from ocular treatment, it is reported to accelerate the treatment of Parkinson’s disease and Alzheimer’s disease as well. So, it could be inferred that astaxanthin market is there to contribute to the major chunk of revenue regarding the eye health products market in the upcoming period.
These days, the number of people contracting Keratoconus is increasing exponentially. Amongst the eye health products available for treating Keratoconus are the “Tangible Hydra-PEG Custom Contact Lens Coating Technology” that did receive 510(k) clearance for its usage. It was obtained in February 2019. The company’s Zenlens Family of Scleral Lenses and Boston Gas Permeable Lens Materials are subject to the implementation of this technology.
The Artificial Cornea Implant Market, by mode of treatment, includes lenses (hybrid lenses, piggyback lenses, scleral lenses, hard contact lenses, eyeglasses or soft contact lenses, and others), surgery (corneal inserts, cornea transplant, and others), collagen cross-linking, and others.
North America holds more than 30% of the overall market share. This could be credited to growing incidences of various chronic ocular disorders like glaucoma, retinopathy, AMD, dry eye syndrome, along with ready availability of various commercialized eye health products. Europe stands second on this count.
However, it needs to be noted that the Asia-Pacific is poised to grow at the fastest rate between 2020 and 2030 with increase in awareness herein. Additionally, there is a fact to support the claim. As per International Finance Corporation, China alone sees a steep 6% rise in the cases of blindness every single year.
From the “Competitive” Perspective
The key players in the eye health products market include Vitabiotics Ltd., Pfizer Inc., The Nature’s Bounty Co., Amway International, Bausch & Lomb, Nutrivein, ZeaVision LLC, Kemin Industries, Inc., EyeScience, and Nutrachamps.
Coming to developments, Japan-based Nippon Flour Mills, in August 2019, made an entry into healthcare industry with launching its brain and eye flavonoid supplements made out of Ginkgo Biloba, zeaxanthin, terpene lactone, and lutein. In the same year, “Ocuvite eye Performance” vitamin supplements were launched by Bausch + Lomb all across the US.
Also, since the launching of cataract awareness campaign by Alcon Laboratories, the intake of eye health products has increased manifold. Plus, the fact that Alcon eye health products comprise a homogeneous family of IOLs to serve cataract patients all through can’t be ignored.
The Way Ahead
There won’t be looking back for eye health products market in the near future, as screen-time is bound to increase (as people will prefer more of the online meetings). Plus, the increasing number of people with eye disorders are there to add to the revenue generation.
Global Market Study on Eye Health Supplements: High Incidence of Cataract to Positively Impact Market GrowthView Report