Eye Nutrition Supplements Market Report Description:
Eye Supplements market report gives comprehensive outlook on eye nutrition supplements across the globe with special emphasis on key regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa (MEA). This report on eye nutrition supplements market gives historical, current, and future market sizes (US$ Mn) of product type, dosage form, distribution channel, and geographic regions. This report studies eye nutrition supplements market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Eye Supplements market report includes recent product launches, regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analysed eye nutrition supplements market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the eye nutrition supplements market report include suppliers, manufacturers, marketers, policymakers engaged in manufacturing and supply of eye nutrition supplements.
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Eye Nutrition Supplements Market:
The eye nutrition supplements market was valued at US$ 1.5 Bn in 2016 and poised to grow at CAGR 6.3%. over 2017 to 2023
Growing awareness about preventive health will have positive impact on eye nutrition supplements market
Eye diseases and disorders is one of the biggest healthcare burden for many countries. Growing incidence and prevalence of eye ailments and increase in aging population are driving the growth of eye nutrition supplements market. For instance, age-related macular degeneration (AMD) condition mainly affects people with age over 50 and responsible for loss of person’s central vision. As per the estimates of the National Health Service (NHS) UK, it currently affects more than 0.6 Mn people in the UK and predicted to reach 0.7 Mn by 2020. Furthermore, as a preventive measure various government bodies and companies creates awareness programs about eye health and promotes importance of eye nutrition supplements. For instance, in February 2017, Allergan launched See America public awareness campaign to increase awareness and access to eye examinations.
Alternative pharmaceutical drugs and product recalls by companies hamper eye nutrition supplements market
The launch of new pharmaceutical drugs and medical devices that can treat various eye ailments such as cataracts, glaucoma, age-related macular degeneration (AMD), genetic diseases, and others are hampering the growth of eye nutrition supplements market. Furthermore, product recalls from companies due to issues with eye nutrition supplements. For instance, in 2010, Bausch + Lomb (Valeant) recalled its PreserVision Eye Vitamin AREDS 2 Formula in the U.S market due to choking sensations reported in people with age over 70.
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North America accounts occupies significant market share in global eye nutrition supplements market
North America market accounts significant market share in the eye nutrition supplements market owing to increase in consumer awareness about preventive health, easy availability of supplements, and new product launches are responsible for the growth of the North America market. Furthermore, increase in prevalence and incidence of the eye ailments in the U.S. are fuelling the growth of the market. In Europe, Russia and United Kingdom are the key markets for eye nutrition supplements. Asia-Pacific region is projected to register highest CAGR over the forecast period.
Key player’s profiles in the global eye nutrition supplements market include:
- Bausch + Lomb (Valeant) (Canada)
- Vitabiotics Ltd. (U.K.)
- Alliance Pharma plc (U.K.)
- Efamol Ltd (U.K.)
- Alcon Laboratories (Novartis AG) (Switzerland)
- Pfizer Inc. (U.S.)
- EyeScience (U.S.)
- The Nature’s Bounty Co (U.S.)
- Amway (U.S.)
- Orthomol (Germany)
Eye supplements market is highly fragmented as many players operating in eye nutrition supplements. Companies are adopting different growth strategies to enhance their sales revenue. Few companies adopted acquisitions, product launches, novel product claims, new distribution channels, collaborating with retail stores, educating ophthalmologists, and social media marketing are some of the key strategies. In 2015, Alliance Pharma plc, acquired MacuVision Europe Limited (MacuVision) for £ 5.5 Mn to add eye care portfolio. As a part of differentiating strategy, Bausch + Lomb (Valeant) product PreserVision Eye Vitamin AREDS Formula Tablets claimed on their product label “Doctor #1 Recommended” to gain confidence from consumers.
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Key Findings of the Report:
- Eye supplements market expanding at XX% CAGR over 2017 to 2013 to reach market value of US$ XX Mn by 2023
- Based on ingredient type, lutein and zeaxanthin accounted for larger market share in 2016 owing to their clinical efficacy in prevention of eye ailments
- Gummies segment projected to register highest CAGR in global eye nutrition supplements market over the forecast period
- Supermarkets and Hypermarkets are major distribution channel for eye nutrition supplements
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2012 to 2016) and forecast (2017 to 2023)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
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