The increasing need for maintaining healthy 6/6 eyesight has propelled the demand for “eye supplements” in the market. Rising awareness about eye diseases is a major factor boosting the global eye supplements market, says Fortune Business Insights in their new study. The study is titled, ”Eye Supplements Market Size, Share and Global Trend by Product Type (Antioxidants, Fatty Acids, Anti-inflammatory Supplements, Neuro-protective supplements), By Form (Liquid, Gels, Capsule, Tablet), By Application (Eye Health, Muscular Degeneration, Diabetic Retinopathy, Cataract, Glaucoma), By Distribution Channels (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) and Geography Forecast till 2026”.The World Health Organization reported an estimate of 188.5 million people to suffer from severe vision impairment in terms of distant vision in the year 2018. In 2014, the National Eye Institute stated an estimate of 2.7 million Americans suffered from glaucoma that is expected to reach 4.3 million by the end of 2030. In the same year, the National Eye Institute also estimated that an approximate of 2.1 million of the American population suffered from advanced age-related muscular degeneration (AMD). This is further anticipated to increase and reach 3.7 million Americans by the end of 2030.
Rising Awareness about Eye Infections and their Preventive Measures to Drive Growth
Increasing awareness about eye diseases and preventive eye care measures for avoiding such problems is a major booster for the global eye supplements market. Major causes of eye problems include exposure to harmful agents and pollutants, long working hours in front of computer screens, increase in eye stress. All such problems propel the demand for eye supplements in the market and this is likely to increase during the forecast period.
Additionally, the increasing prevalence of eye diseases, such as cataract, AMD, dry eye, low vision, macular degeneration, and others, especially among the geriatric population is a major factor driving the market for eye supplements worldwide.
However, the presence of alternative eye treatment procedures may restrict the growth of eye supplements in the market. This, cou0pled with, the problem of product recalls may also hinder the growth of the market during the forecast period.
Nevertheless, the increasing research and development projects by various companies and new product launches, are expected to bring lucrative opportunities of growth for the global eye supplements market in the long run.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Increasing Number of Eye Care Centres to Help Market Witness Fastest Growth in Asia Pacific
Fortune Business Insights foresees the global eye supplements market to be dominated by North America owing to better access to healthcare facilities and easy accessibility to medicines and supplements in developed nations of the U.S. and Canada. The presence of leading companies in the region is a major factor boosting the market in North America. It is likely to remain dominant in the coming years as well. Besides this, the global eye supplements market is anticipated to witness growth at a faster rate in Asia Pacific due to the rising awareness about eye problems and improved affordability and accessibility for eye care products. This, coupled with the increasing number of eye care centers and ophthalmologists in the emerging economies such as China and India, is anticipated to bring lucrative growth opportunities for the eye supplements market in Asia Pacific during the forecast duration.
Companies operating in the global eye supplements market are Nature’s Bounty Co., Amway Corp., Butterflies Healthcare Ltd, Valeant Pharmaceuticals International Inc., Novartis AG, Bausch & Lomb Incorporated, Akorn Incorporated, Alliance Pharma, Pfizer Inc., Vitabiotics Ltd, and others.
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