The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreOct 2014
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Although the global market for eye health (comprising OTC eye care and eye health supplements) is vastly outsized by mainstream industry categories such as analgesics or multivitamins, the global market is worth nearly US$5 billion and grew by a healthy 15% from 2008 to 2013. Looking forward, a confluence of demographic, lifestyle and epidemiological factors should benefit the categories by driving eye health further to the forefront of consumer interest.
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In addition to the rapidly ageing population of the most developed consumer health markets, a rising incidence and prevalence of allergies, more exposure to digital screens, pollution, lifestyle diseases and side effects of common medications are leading to more diagnosed cases of dry eye, allergy eyes and aged-related macular degeneration (AMD).
Restrictions on over the counter (OTC) allergy eye care in a number of developing markets, including China, Indonesia, Brazil and Turkey, are holding back the development of eye care by preventing producers from fully exploiting their portfolios of allergy eye care ingredients, such as ketotifen.
Producers and marketers face fierce competition in a number of key markets globally, perhaps most notably in Japan. The most developed markets feature retail value sales through a multitude of channels and access to the widest portfolios of ingredients. While this has made portfolio building easier, it has led to increased copycat (including private label) competition and is placing a premium on innovation-driven product differentiation.
The G20 countries account for nearly 90% of global eye care and eye health supplements, compared to just 80% of OTC and vitamin and dietary supplement retail value sales. The largest markets, the US and Japan, play an outsized role on the global market’s development. Through 2015, Australia, Canada and the UK are expected to grow as quickly as traditional growth powerhouses Russia and Brazil.
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