Global Shingles Vaccine Market 2023: Underdeveloped countries to become hotspot for Shingles Vaccine demand | GlaxoSmithKline plc., Merck & Co., Inc., SK Chemicals

The shingles vaccine market has seen significant growth in recent years, as more and more people seek to protect themselves from the painful and debilitating condition caused by the reactivation of the varicella zoster virus (VZV), which is also responsible for chickenpox.

The global Shingles Vaccine market was valued at around US$ 3.5 Bn in 2021. With a projected CAGR of 13.9% for the next ten years, the market is likely to reach a valuation of nearly US$ 14.1 Bn by the end of 2032. Global Shingles Vaccine market is projected to witness an absolute dollar opportunity growth of US$ 10.2 Bn during 2022-2032.

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The shingles vaccine is typically recommended for people over the age of 50, as the risk of developing shingles increases with age. However, the vaccine is also recommended for certain groups of people under the age of 50, such as those with weakened immune systems.

There are currently two shingles vaccines available on the market: Zostavax and Shingrix. Zostavax has been available for over a decade, but Shingrix was approved by the U.S. Food and Drug Administration (FDA) in 2017 and has quickly become the preferred option due to its higher effectiveness rate.

Companies

GlaxoSmithKline plc.
Merck & Co., Inc.
SK Chemicals
Green Cross Corp
Geneone Life Science
Vaccitech
CanSinoBIO
Cipla Inc.
Pfizer Inc

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In addition, the rising aging population and increasing government initiatives to promote vaccination are also contributing to the growth of the market. However, the high cost of the vaccine and lack of reimbursement in some countries may hinder market growth.

Overall, the shingles vaccine market is expected to continue growing in the coming years, as more and more people seek to protect themselves from this painful and debilitating condition. It is important for individuals to consult with their healthcare provider to determine if the shingles vaccine is right for them.

Category-wise Insights

How Shingles is accelerating the growth in the shingles vaccine market?

Shingles witnessed the fastest growth over the forecasted period and is expected to garner a growth rate of 14.4% during the forecasted period set between 2022 and 2032. According to clinical trials, Shingles is safer to use and possess high efficacy with over 97% effectiveness in people aged between 50 to 69 years. Based on CDC data, Shingles was found to be 91% effective in preventing postherpetic neuralgia. The Shingles vaccine is being used in immunization programs throughout several countries due to the reduction rate of herpes zoster.

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Key Segments Covered in Shingles Vaccine Industry Survey

Shingles Vaccine Market by Product type:

Shingles
Zostavax
Sky Zoster

Shingles Vaccine Market by Vaccine type:

Recombinant Vaccine
Live Attenuated Vaccine

Shingles Vaccine Market by Region:

North America Shingles Vaccine Market
Latin America Shingles Vaccine Market
Europe Shingles Vaccine Market
South Asia Shingles Vaccine Market
East Asia Shingles Vaccine Market
Oceania Shingles Vaccine Market
Middle East & Africa Shingles Vaccine Market

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