Eye Health Ingredients Market to exceed $290mn by 2024
Published Date: May 16, 2017 Authors: Kunal Ahuja, Amit Rawat
Eye Health Ingredients Market size is projected to exceed USD 290 million by 2024; according to a new research report by Global Market Insights, Inc.
Rising diseases including age-related macular degeneration (AMD), diabetic retinopathy, glaucoma and cataracts will propel product demand. Protection from UV radiation, elimination of free radicals and enhancing strong vision are other key features stimulating the industry growth.
Zeaxanthin and Lutein are the broadly used eye care ingredients, high efficiency and effectiveness in lower dosages causes low zeaxanthin consumption compared to lutein. Lutein will witness CAGR exceeding 6.5% up to 2024. Rising demand for infant supplementary to overcome vision deficiency among children are the main factors driving lutein demand.
Bilberry extracts will be worth over USD 25 million by 2024. Potential application outlook in healthcare industry to treat vision disorders will enhance the product penetration. Retinal health enhancement and blood sugar level maintenance are the key substantial benefits.
Demand for animal eye health ingredients market will witness over 7% growth up to 2024. Preventive care among owners of pet and commercial animal will remain a key driving factor for the segment.
Shifting consumer preference towards naturally sourced products will drive the industry growth. Synthetic eye health ingredients market is driven by low processing costs with high benefits which will impact natural eye health ingredients market price trend.
High surgery costs are the factors influencing consumers toward OTC supplements to avoid substantial costs on clinical treatments. Development and innovation in terms of product personalization and customization will be a key strategy for the nutraceutical industry.
Browse key industry insights spread across 300 pages with 315 market data tables & 14 charts & figures from the report, “Eye Health Ingredients Market Size By Source (Natural, Synthetic), By Ingredient (Lutein, Zeaxanthin, Beta Carotene, Vitamin A, Bilberry Extracts), By Form (Soft Gel, Capsule & Tablets, Liquid, Powder), By End Use (Human, Animal), By Disease Indication (Age Related Macular Degeneration, Cataract, Dry Eye Syndrome), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Poland, Russia, Netherland, China, India, Japan, Indonesia, Thailand, Australia, South Korea, Malaysia, Singapore, Brazil, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
Capsule, soft gel & tablets accounted for more than 40% of the industry share in 2016. Reduced side effects along with ease in consumption are the factors positively influencing the product penetration.
Age related macular degeneration treatment is the leading segment for the product consumption. Rising dry eye syndrome diseases globally is another factor fueling the eye health ingredients market.
U.S. eye health ingredients market could witness over 5% growth through to 2024. Growing consumer health consciousness coupled with increasing product launches will drive the regional demand. Low vision and blindness is observed in over 3.2 million people in the North America in 2015, which is estimated to surpass 6 million by 2024.
Europe, led by Germany and UK will witness growth over 5.5%. High geriatric population along with increasing consumer spending on healthcare will propel the regional industry growth.
China and India together will witness CAGR over 6.5% up to 2024. Increase in consumer purchasing power along with growing consumer interest for a healthy lifestyle will stimulate industry growth.
Global industry share is fragmented with large number of manufacturers including Allied Biotech, FMC Corporation, DSM and BASF. MacuShield, Alcon, Amway, Bausch & Lomb, Efamol, Solgar and Swanson are the major customers. Technological advancement and product innovations have led manufacturers to launch gummies for vision enhancement.
Eye health ingredients market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons and revenue in USD million from 2013 to 2024, for the following segments:
Eye Health Ingredients Market, By Source
Eye Health Ingredients Market, By Ingredient
- Beta Carotene
- Vitamin A
- Bilberry Extracts
- Others (Vitamin C, Vitamin E, Zinc & Omega-3 fatty acids, Astaxanthin)
Eye Health Ingredients Market, By Form
- Soft gel, capsule & tablets
Eye Health Ingredients Market, By Application
Eye Health Ingredients Market, By Disease Indication
- Age related macular degeneration
- Dry eye syndrome
- Other indications
The above information has been provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa