Shingles Vaccine Market: Global Industry Analysis and Forecast (2023-2029)

Shingles Vaccine Market was valued at USD 3.06 Billion in 2022, and it is expected to reach USD 6.02 Billion by 2029, exhibiting a CAGR of 10.1 % during the forecast period (2023-2029)

The Shingles is a painful rash that generally appears on one side of the body, most commonly the face or torso. Shingles vaccine is the only strategy to prevent shingles and postherpetic neuralgia (PHN), the most prevalent shingles consequence. Adults aged 50 and over receive two doses of the shingles vaccination Shingrix (recombinant zoster vaccine) to prevent shingles and its consequences. Adults 19 and older with compromised immune systems due to disease or therapy should additionally receive two doses of Shingrix since they are at a higher risk of developing shingles and accompanying problems.To know about the Research Methodology :- Request Free Sample Report

chickenpox and shingles are caused by the same virus, so they areconnected (varicella-zoster virus). The virus remains latent (inactive) in the body after a person recovers from chickenpox. Years later, it might reactivate and produce shingles. Shingrix offers effective shingles and PHN protection. Shingrix is more than 90% effective in preventing shingles and PHN in persons 50 and older with healthy immune systems. Immunity is maintained for at least the first seven years following immunisation. Shingrix is 68%-91% effective in preventing shingles in persons with impaired immune systems, according to studies, depending on the disease that impairs the immune system.
Research Methodology
The research report on Shingles Vaccine Market, relies heavily on both primary and secondary data sources. The research process entails the investigation of various factors affecting the industry, such as government policy, market environment, competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and technical progress in related industries, as well as market risks, opportunities, market barriers, and challenges. All conceivable elements influencing the markets included in this research study have been considered, examined in depth, validated through primary research, and evaluated to provide the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalised, and the impact of inflation, economic downturns, regulatory & policy changes, and other variables is factored into the market forecast. The research analysts at MMR consolidated the data with detailed inputs and analysis.
Shingles Vaccine Market Dynamics
Shingrix is chosen over Zostavax for the prevention of zoster and its consequences since statistics revealed that the vaccination was effective against shingles in more than 90% of all age groups. Shingrix, unlike Zostavax, is administered with two intramuscular doses spaced two to six months apart. The majority of trials undertaken indicated effectiveness for at least four years after immunisation, although it is likely that the vaccine will give protection for much longer. Shingrix decreased the incidence of shingles by 96.6% in the 50-59 age range and 91.3% in those over 70, according to a major randomised clinical study. The absolute decrease in risk of herpes zoster following immunization over three and a half years is 3.3% (3.54% down to 0.28%) while the decrease in the risk of postherpetic neuralgia is 0.3% (0.34% down to 0.06%).

During the forecast period, the high effectiveness of vaccines is likely to drive the Shingles Vaccine Market. Furthermore, favourable activities done by industry participants and regulatory organisations to raise awareness among those at risk of getting the condition are projected to boost market expansion in the coming years. The availability of vaccines at cheaper prices, along with a high illness incidence and vaccination rate in developed nations, is expected to drive market growth. Increasing vaccine usage and increased vaccination recommendations by various government regulatory organisations are expected to boost the market over the forecast period.

The Shingles Vaccine Market is being driven by the increasing incidence and prevalence of shingles. The growing senior population, as well as the increased approval and introduction of improved shingles vaccines, have fueled demand for the Shingles Vaccine Market. For example, the European Commission approved GSK's Shingrix vaccine in 2018, and the national medical administration authorised Shingrix in August 2019 for the prevention of shingles in adults. The rising number of herpes zoster patients globally is likely to boost vaccination adoption in the future years. The annual incidence of herpes zoster is believed to be 3 to 5 per 1,000 people, and it rises with age. According to a research done in Germany, the yearly incidence of zoster is estimated to be 5.79 incidences per 1,000 people. The high risk of herpes zoster is expected to increase the adoption of shingles vaccines.

The rising number of government recommendations to use these vaccinations is also one major aspect driving the global market's overall rise. Furthermore, the growing number of senior individuals is expected to fuel an ever-expanding industry. Many businesses have spent a lot of money on research and development to create new shingles vaccines. This leads to an increase in the number of new goods approved by the FDA. However, the risks connected with the vaccine's side effects are quite substantial. Furthermore, there is a dearth of understanding in the developing world about the supply and usage of these items. It is possible to pose a challenge to the growth of the Shingles Vaccine Market in the years to come.

The growing preference for novel recombinant vaccines, along with their high pricing, is expected to create growth prospects during the forecast period. The increasing prevalence of herpes zoster throughout the world is expected to increase vaccine adoption in the future years. The increasing risk of herpes zoster is anticipated to boost the use of shingles vaccinations in the coming years. As a result of these reasons, the shingles vaccine market is expected to increase its growth opportunities over the forecast period. The vaccines' cost-effectiveness in comparison to shingles therapy is expected to stimulate market development potential.

Furthermore, the introduction of shingles vaccines in numerous countries' national vaccination programmes is expected to drive market development. In Australia, for example, shingles vaccine is financed under the National Immunization Program for individuals aged 70 to 79 years, because persons in this age range are more likely to acquire herpes zoster and are expected to benefit the most from immunisation. Similarly, to lessen the disease burden, several nations such as the United States, the United Kingdom, and Italy have included shingles vaccine in their national immunisation programmes.

Redness, swelling, or itching at the injection site, sleepiness or exhaustion, headache, muscular discomfort, stomach pain, and nausea all contribute to the market's slow development. These are the potential negative effects that may occur with Shingles therapy. The vaccination is safe, but it is expensive if it is not covered by insurance. The high cost of vaccination has a negative impact on the growth of the Global Shingles Vaccine Market. People with compromised immune systems are more likely to get shingles. As a result, the Food and Drug Administration (FDA) has authorised the Shingrix vaccine for persons 18 and older who are at risk of shingles owing to immunodeficiency or immunosuppression induced by an underlying illness or drug.
Shingles Vaccine Market Segment Analysis
Based on Type, Shingrix is expected to grow at the fastest rate of XX% during the forecast period. Shingrix had the biggest market share of more than 90.0% in 2022, thanks to the vaccine's strong effectiveness and lack of major side effects. Furthermore, Shingrix is expected to grow at the fastest pace during the forecast period. The segment's growth can be attributable to rising illness awareness and the approval of Shingrix vaccinations in various locations. Shingrix, for example, was licenced by China's National Medical Products Administration in May 2019 to prevent shingles. SKYZoster is predicted to increase at a considerable CAGR over the forecast period as a result of its recommendation in South Korea, cost-effectiveness compared to Zostavax, and inclusion in vaccination programmes in select South Korean provinces. Furthermore, ongoing clinical trials of SKYZoster for approval and commercialization in other countries are expected to drive market growth in the coming years.

Based on Vaccine Type, In 2022, the recombinant vaccine sector will dominate xx% of the market. Due to the significant adoption of Shingrix in North America and the European area, as well as the high efficiency of the recombinant vaccine to prevent illness in the adult population, the recombinant vaccine sector held the greatest share of more than 90.0% in 2022. The CDC reports that two doses of Shingrix are more than 90% effective in preventing shingles in individuals 50 and older. The live attenuated vaccine sector is expected to grow over the forecast period due to increased illness awareness and immunisation acceptance in emerging nations. The limiting of live attenuated vaccinations in immune-compromised adults, on the other hand, is having a detrimental influence on market penetration of live attenuated vaccines. The approval of SK Bioscience's vaccine SKYZoster, on the other hand, is expected to drive the category over the forecast period.
Shingles Vaccine Market Regional Insights
During the forecast period, North America is expected to dominate the market with 80% of the revenue. Important players' presence in North America, attractive reimbursement regulations, and high vaccination uptake are major drivers driving the regional market. Vaccine uptake in the United States is about 35%, but it exceeds 20% of the eligible population in Canada. Furthermore, increasing levels of public awareness and recommendations for disease immunisation in the area are some of the factors driving market growth over the forecast period. Shingrix is preferred over Zostavax in the United States and Canada to prevent shingles in the elderly population because to its high effectiveness.

Asia Pacific is expected to grow at the quickest pace during the forecast period due to rising disposable income, improved healthcare legislation, and a big population base at high risk of contracting the illness. Furthermore, the significant unmet medical requirements in Asia Pacific's low- and middle-income nations are likely to drive market growth during the forecast period. Furthermore, the approval of Shingrix in various Asian nations is expected to accelerate market expansion.

Because of the rising prevalence of zoster, South America is one of the fastest-growing markets for shingles vaccination (Shingles). Following recent natural catastrophes, countries such as Brazil, Argentina, Mexico, and Chile are emerging as important participants in this industry, with a high demand from the public for better healthcare facilities. In terms of volume, Europe is the second-largest market for shingles vaccination. The increase is attributable to increasing knowledge of Shingrix, which helps persons 50-70 years old and above 60 years old avoid shingles illness. The Middle East and Africa are likely to see considerable development in the near future as a result of expanding public knowledge about infectious disease prevention, as well as a growing need for better healthcare facilities in high-income nations following recent natural disasters like earthquakes and tsunami.
Report Scope:
The Shingles Vaccine Market research report covers product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, and the most recent dynamic analysis, among other things. The report discusses the global market's drivers, opportunities, and limitations. It discusses the influence of various drivers, trends, and restraints on market demand during the forecast period. The research also outlines market potential on a global scale. The research includes the production time, base distribution, technical characteristics, research and development trends, technology sources, and raw material sources of main Shingles Vaccine Market firms in terms of production bases and technologies. The more precise study also contains the primary market and consumer application sectors, significant regions and consumption, major producers, distributors, raw material suppliers, equipment providers, and their contact information, as well as an industry chain relationship analysis. This report's study also contains product specifications, manufacturing processes, cost structure, and data information organised by area, technology, and application.
Shingles Vaccine Market Scope: Inquire before buying



Global Shingles Vaccine Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 3.06 Bn.


Forecast Period 2023 to 2029 CAGR:
10.1%
Market Size in 2029:
US$ 6.02 Bn.


 Segments Covered:
by Drug Type
Zostavax
Shingrix
Others


by Distribution Channel
Hospital Pharmacy
Retail Pharmacy
Others


by Vaccine Type
Recombinant Vaccine
Live Attenuated Vaccine



Shingles Vaccine Market by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Shingles Vaccine Market Key Players
1. GlaxoSmithKline plc.
2. Merck & Co., Inc.
3. SK chemicals
4. Green Cross Corp
5. CanSinoBIO
6. Geneone Life Science
7. Vaccitech
8. Pfizer
9. Sanofi
10. CSL Behring
11. Curevo Inc.
12. GeneOne Life Science Inc.

Frequently Asked Questions:

1] What segments are covered in the Shingles Vaccine Market report?
Ans. The segments covered in the Shingles Vaccine Market report are based on Drug Type, Distribution channel and Vaccine Type.

2] Which region is expected to hold the highest share in the Shingles Vaccine Market?
Ans. North America region is expected to hold the highest share in the Shingles Vaccine Market.

3] What is the market size of the Shingles Vaccine Market by 2029?
Ans. The market size of the Shingles Vaccine Market by 2029 is expected to reach US$ 6.02 Bn.

4] What is the forecast period for the Shingles Vaccine Market?
Ans. The forecast period for the Shingles Vaccine Market is 2023-2029.

5] What was the market size of the Shingles Vaccine Market in 2022?
Ans. Shingles Vaccine Market was valued at US$ 3.06 Bn. in 2022.