It is expected to reach USD 6.71 Billion by 2027 with a CAGR of 9.4% over the forecast period. In 2021, the Shingles Vaccines Market value was USD 3.58 Billion.
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.
Global Shingles Vaccines Market Segmentation:
On the basis of product, vaccination type, application, distribution channel, and regional and national level, the market for shingles vaccines is divided globally. The shingles vaccines market is segmented into three categories based on product: Zostavax, Shingrix, and SKYZoster. The recombinant vaccines and live attenuated vaccines categories make up the market for shingles vaccines globally. The market is divided into herpes zoster and other applications based on their use. The market is divided into hospital and retail pharmacies, government suppliers, and others based on the distribution route.
By Vaccine Type:
- Recombinant Vaccines
- Live Attenuated Vaccines
- By Application:
- Herpes Zoster
By Distribution Channel:
- Hospital & Retail Pharmacies
- Government Suppliers
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Scope of Global Shingles Vaccines Market:
Herpes zoster, sometimes known as shingles, is a persistent condition caused by the varicella-zoster virus (the very infection that causes chickenpox). The shingles vaccine offers defense against the herpes zoster virus or shingles. Shingles can cause challenging skin rashes and excruciating nerve pain known as postherpetic neuralgia (PHN), which may last for a month or years after the rash has subsided. The Shingles vaccine used a weak form of chicken pox infection to activate the body’s immune system to fight the disease.
The global market for shingles vaccines has been negatively impacted by the Covid-19 outbreak. The use of Shingles vaccinations was influenced by the high incidence of Covid-19. Additionally, the restrictions imposed by several governments had an effect on the supply chain and the production of Shingles vaccines by the majority of the producers. The demand for increased Covid-19 vaccine production capacity from major global pharmaceutical companies also contributed significantly to a minor decline in the use and manufacture of Shingles vaccines.
Shingles Vaccine Manufacturers:
- Merck& Co., Inc
- Cipla Inc.
- Pfizer Inc
- SK chemicals
- GlaxoSmithKline plc.
- Geneone Life Science
- Green Cross Corp
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News On Shingles Vaccine Market:
Shingrix Approved in Europe and Japan for the Prevention of Shingles in Adults Aged 50 and over
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.
CVS Pharmacy Offered New Shingles Vaccine at Locations Nationwide
On March 16th, 2018; More than 9,800 pharmacies had the stock of the new Shingrix vaccine announced by CVS Pharmacy, the retail division of CVS Health. The new vaccine is recommended by the Centers for Disease Control and Prevention (CDC) and was licensed by the U.S. Food and Drug Administration (FDA) in 2017.
GSK won U.S. Shingles Vaccine Approval, UK Nod for Gene Therapy
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.
The Increasing Prevalence of Shingles, Rising Approvals for Shingles Vaccines and a Growing Number of Research and Development Activities are Driving the Market Growth:
The rising incidence of shingles is one of the main factors propelling the growth of the global shingles vaccine market. The only way to avoid illness is to get vaccinated against shingles. As a result, the market for shingles vaccinations will grow as shingles become more common. For instance, the Centers for Disease Control and Prevention (CDC) estimates that one in three Americans may get shingles at some point in their lifetime. The likelihood of developing the illness increases with age, especially after the age of 50.
Furthermore, a growing number of research and development activities in this field are also driving market growth. For example, as per the news published on January 5th, 2022, a new global partnership agreement was signed by Pfizer and BioNTech for the development of the first mRNA-based shingles vaccine. However, side effects associated with the shingles vaccine may hamper the growth of the global shingles vaccine market. In spite of that, technological advancement in shingles vaccine development can provide growth in the global shingles vaccine market.
North America is Expected to Dominate the Global Shingles Vaccines Market:
Due to the rising incidence of shingles, the rising number of product approvals, and the rising senior population in this region, North America is predicted to lead the global market for shingles vaccines. For instance, the Centers for Disease Prevention (CDC) reports that there are roughly four instances for every 1,000 Americans each year. Additionally, the market is growing as a result of North America’s growing number of new product approvals. For instance, GlaxoSmithKline (GSK) received U.S. permission in September 2021 to use Shingrix in adults who are 18 years of age or older as well as in adults who are 50 years of age or older.
Due to increasing government initiatives for the use of shingles vaccinations and increased awareness about the advantages of the shingles vaccine, Europe is anticipated to show considerable growth in the global shingles vaccine market. For instance, in March 2018, the Japanese Ministry of Health, Labor, and Welfare and the European Commission supported Shingrix as a treatment for shingles and post-herpetic neuralgia in adults 50 years of age and older.
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On Special Requirement the Global Shingles Vaccines Market. The report is also available for the below Regions and Countries: –
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
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