Asia Pacific Eye Health Supplement Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Ingredient type (Lutein and Zeaxanthin, Antioxidants, Omega-3 fatty acids, Coenzyme Q10, Flavonoids, Astaxanthin, Alpha-Lipoic acid, Others); Indication (Age-related macular degeneration (AMD), Cataract, Dry eye syndrome, Others); and Form (Tablet, Capsule, Drops), and Countries
The Asia Pacific Eye Health Supplement market is expected to reach US$ 593.12 million by 2027 from US$ 370.69 million in 2019; it is anticipated to grow at a CAGR of 6.2% during 2019–2027. The Eye Health Supplement market is growing primarily due to growing prevalence of eye diseases and aging population. Factors such as high cost of supplements and lack of product availability in emerging countries damage the growth of the market.
Eye supplements are nutritional products which care recommended to maintain eye health and good vision. The eye health supplements prominently comprises vitamin A, lutein & Zeaxanthin, omega 3 fatty acids, gamma-linoleic acid, and others. These nutritional supplements helps to sustain eye function, reduce the development of age-related eye diseases, and protect eyes against harmful light. Eye health supplements can be useful over range of eye diseases such as dry eye, age-related macular degeneration, glaucoma, diabetic retinopathy, and cataracts amongst others.
Visual impairment, blindness, and associated conditions are significantly influencing the quality of physical and mental health of the patients. Patients suffering from eye disorders are at high risk of chronic health conditions, accidents, depression, and social withdrawal. Age-related macular degeneration, glaucoma, cataract, eye allergies, diabetic retinopathy, amblyopia, and strabismus are commonly observed eye disorders amongst global population. Growing prevalence of eye disorders and abnormalities is anticipated to drive the adoption of eye health supplements, which would eventually drive the eye health supplements market during the forecast period. For instance, according to the study in April 2019, “Prevalence of refractive errors, uncorrected refractive error, and presbyopia in adults in India, published by the Indian Journal of Ophthalmology, the prevalence of refractive errors, of at least 0.50 D of spherical equivalent ametropia was 53.1%. In addition, the prevalence of uncorrected refractive error was 10.2% in the study population. Moreover, as per a study reported by International Finance Corporation, China is witnessing a 6.0% increase in blindness cases annually, accommodating nearly one-fifth of the world’s blind population in the country.
COVID-19 pandemic has become the most significant challenge across the Asia Pacific region. This challenge will be frightening the countries across the region as it will lead to reducing imports due to disruptions in global trade, which further increases the shortages of eye health supplements, resulting in a considerable price increase. Manufacturers are also experiencing raised prices and potential shortages of raw ingredients due to supply restrictions.
In 2019, the Age-related Macular Degeneration (AMD) segment accounted for the largest share of the Asia Pacific Eye Health Supplement market. The growth of the market for this segment attributes to the factors such as growing aging population and unhealthy lifestyle led to increasing incidences of AMD. However, the dry eye syndrome segment is also likely to register the highest CAGR in the market during the forecast period.
A few of the significant secondary sources associated with the Asia Pacific Eye Health Supplement market report are the World Health Organization (WHO), Centers of Disease Control and Prevention (CDC), Indian Journal of Ophthalmology, and United Nations Population Fund, among others. .
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