Shingles Vaccine Market is likely to reach a US$ 14.1 Bn by the end of 2032 With a projected CAGR of 13.9%

The global shingles vaccine market is witnessing significant growth due to the increasing prevalence of herpes zoster or shingles, rising geriatric population, and increasing awareness about vaccination. Shingles is a viral infection that causes a painful rash, and it primarily affects individuals above 50 years of age. The shingles vaccine helps in reducing the risk of developing shingles and its complications. The market for shingles vaccine is witnessing substantial growth due to the increasing adoption of vaccination and the availability of new vaccines that offer better protection against shingles.

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 market is primarily driven by the increasing prevalence of herpes zoster or shingles. According to the Centers for Disease Control and Prevention (CDC), approximately one in three people in the United States will develop shingles during their lifetime. Moreover, the expanding geriatric population and increasing awareness about vaccination are also contributing to the growth of the market. The shingles vaccine is recommended for individuals above 50 years of age, and it is widely available in pharmacies and healthcare facilities.

Companies

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

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North America dominates the global shingles vaccine market due to the high adoption of vaccination and the presence of well-established healthcare infrastructure. The Asia-Pacific region is expected to witness significant growth in the coming years due to the rising geriatric population, increasing healthcare expenditure, and growing awareness about vaccination. The market players are also targeting the emerging markets in the Asia-Pacific region to expand their customer base and increase their market share.

The shingles vaccine market is highly competitive, with a large number of players operating in the market. The key players in the market are focusing on product launches, partnerships, collaborations, and acquisitions to strengthen their position in the market. For instance, in 2021, GlaxoSmithKline plc launched Shingrix, a new shingles vaccine, in China. In another instance, in 2018, Merck & Co., Inc. received approval from the U.S. Food and Drug Administration (FDA) for a new shingles vaccine, Shingrix, which offers better protection against shingles than the existing vaccine.

Competitive Landscape

Shingles Vaccine manufacturers are largely aiming at setting up manufacturing facilities, winning orders, and investing in R&D. The key companies operating in the Shingles Vaccine market include GlaxoSmithKline plc., Merck & Co., Inc., SK chemicals, Green Cross Corp, Geneone Life Science, Vaccitech, CanSinoBIO, Cipla Inc.,and Pfizer Inc.

Some of the recent developments by key providers of Shingles Vaccine are as follows:

In Jan 2022, Pfizer paid BioNtech US$ 225 Mn to team up for the third time and develop a shingles vaccine based on RNA technology. The alliance between the two companies is aimed towards developing mRNA shingles vaccine which will exhibit efficacy and tolerability. Vaccine development costs will be shared by both the companies and clinical trial is expected to start from the 2nd quarter of 2022.
In July 2021, GlaxoSmithKline plc's Shingles vaccine was approved by FDA in adults aged 18 or above or who are prone to immunodeficiency or immunosuppression resulting from any therapy or disease. GSK is committed to addressing the important patient population exposed to the risk for shingles disease and its associated risk by bringing them vaccine options.
In June 2021, GlaxoSmithKilne announced to relaunch its shingles vaccine amidst the drop of its Shingles vaccine sales due to disruption in covid-19 vaccine rollouts. They further aimed to dominate the position in the world as leading vaccine market where in Shingles vaccine will come out as a buoyant outlook.
In June 2021, GlaxoSmithKline aimed to double down the revenue in U.S. and launch the shingle vaccine in 35 counties in the coming years.

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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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