Global Shingles Vaccines Market is valued at USD 3.58 Billion in 2021 and expected to reach USD 6.71 Billion by 2027 with a CAGR of 9.4% over the forecast period.
Global Shingles Vaccines Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing prevalence of shingles, rising approvals for shingles vaccine and growing geriatric populations are major factors anticipated to drive the Global Shingles Vaccine Market.
Shingles are otherwise called herpes zoster is a chronic disease brought about by the Varicella-zoster infection (the very infection that causes chickenpox). Shingles vaccine gives protection against shingles or Herpes zoster virus. Shingles can prompt difficult rashes on the skin and extreme nerve pain called postherpetic neuralgia (PHN) that might keep going for a month or years after the rash is no more. Shingles vaccine utilized a debilitated type of chickenpox infection to send the body's insusceptible system into a movement to battle the disease. These vaccines diminish the risk of developing shingles by around half and long-term nerve injury by 65%. Shingles is an infection that causes a painful, blazing rash and redness on one side of the face or body and rash is sometimes painful. The vaccine against shingles is called as Shingrixit is a recombinant vaccine and immune response against the virus protein was stimulated by the body preventing shingles. The vaccine requires two doses and it will give strong protection against shingles and postherpetic neuralgia (PHN), the most common complication of shingles. The vaccine for shingles is recommended for adults aged 50 or older.
The Covid-19 pandemic has shown a negative impact on the global shingles vaccines market. The high prevalence of Covid-19 impacted the utilization of Shingles vaccines. In addition, the limitations carried out by the government in numerous nations had impacted the supply chain and production of Shingles vaccines by most of the manufacturers. The requirement for an increase in production capacity for immunization of Covid-19 vaccines among the worldwide drug players additionally played a significant role in a slight lessening in the utilization and production of Shingles vaccines.
Some of the key players for global shingles vaccines market are
The global shingles vaccines market is segmented into on the basis of product, vaccine type, application, distribution channel and region & country level. On the basis of product, the global shingles vaccines market is divided into Zostavax, Shingrix and SKYZoster. On the basis of vaccine type, the global shingles vaccines market is segmented into recombinant vaccines and live attenuated vaccines. On the basis of application, the market is segmented into herpes zoster and others. On the basis of distribution channel, the market is segmented into hospital & retail pharmacies, government suppliers and others.
The regions covered in global shingles vaccines market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global shingles vaccines is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
One of the major factors driving the growth of the global shingles vaccine market is increasing prevalence of shingles. The vaccination against shingles is only solution of not getting infection. Therefore, increasing prevalence of shingles will increase the growth of shingles vaccines market. For instance; according to Center of Diseases Control and Prevention (CDC); about one out of three people will develop shingles in their lifetime in United States. The risk of contracting the disease is getting higher as age more so after the age of 50. In addition, another major factor for the development of the global shingles vaccine market is increasing number of approvals for shingles vaccines. For example, in August 2019, Shingrix was approved by the national medical administration for the anticipation of shingles in grown-ups.
Furthermore, growing number of research and developments activities in this field are also driving the market growth. For example, as per the news published on January 5th, 2022, a new global partnership agreement signed by Pfizer and BioNTech for the development of first mRNA-based shingles vaccine. However, side effects associated with shingles vaccine may hamper the growth of the global shingles vaccines market. In spite of that, technological advancement in the shingles vaccines development can provide growth of the global shingles vaccine market.
North America is expected to dominate the global shingles vaccines market due to the increasing prevalence of shingles, the growing number of product approvals, and the rising geriatric population in this region. For instance; according to the Center of Disease Prevention (CDC; there have been approximately four cases for every 1,000 U.S. citizens yearly. In addition to that, the increasing number of new product approvals in North America are also boosting the market growth. For example; in September 2021, GlaxoSmithKline (GSK) got U.S. approval for the utilization of Shingrix in grown-ups matured 18 years or older as well as in grown-ups matured 50 years and older. This vaccine helps avoid shingles as well as post-herpetic neuralgia (PHN). Moreover, rising geriatric population also more prone to shingles infection also supplementing the market growth. For instance; as per U.S Census Bureau, the geriatric population in U.S. is projected to reach 77 million by 2035.
Europe is expected to show a significant growth in the global shingles vaccine market due to rising government initiatives for the use of shingles vaccines and growing awareness regarding the benefits of shingles vaccine. For instance; in March 2018, the European Commission and the Japanese Ministry of Health, Labor, and Welfare supported Shingrix for the counteraction of shingles and post-herpetic neuralgia in grown-ups matured 50 years or more.
On March 23rd 2018; GlaxoSmithKline plc announced that the Japanese Ministry of Health, Labor and Welfare (MHLW) and the European Commission had approved Shingrix for the prevention of shingles (herpes zoster) and post-herpetic neuralgia (PHN) in aged 50 years or older adults.
On March 16th 2018; More than 9,800 pharmacies had the stock of new Shingrix vaccine announced by CVS Pharmacy, the retail division of CVS Health. The new vaccine is recommended by Centers for Disease Control and Prevention (CDC) and was licensed by the U.S. Food and Drug Administration (FDA) in 2017.
On October 23rd 2017; GlaxoSmithKline won U.S. approval for a new and improved shingles vaccine, the second of three key products for which the British drugmaker expects approval this year.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 3.58 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 6.71 Billion|
|Tables, Charts & Figures:||175|
|Shingles Vaccine Manufacturers||Merck& Co., Inc, Cipla Inc., Pfizer Inc SK chemicals, GlaxoSmithKline plc., CanSinoBIO, Geneone Life Science, Green Cross Corp, Vaccitech, and others.|
|Segments Covered||By Product, By Vaccine Type, By Application, By Distribution Channel|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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