Shingles Vaccine Market is expected to expand at a CAGR of 9.9% from 2021 to 2028.

 Shingles Vaccine Industry Overview

The global shingles vaccine market size was valued at 2.99 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.9% from 2021 to 2028.

 

The increased risk of developing shingles, especially in adults aged 60 and above, and improvement in healthcare policies in developed countries are factors expected to fuel the market growth. According to the CDC estimates, around one out of three individuals in the U.S. will develop shingles in their lifetime. Vaccination is recommended in major countries such as the U.S. Canada, the U.K., Italy, Germany, Australia, New Zealand, and South Korea. In March 2021, the CDC released guidelines related to shingles vaccination during the COVID-19 pandemic and designated it as an essential preventive care service.

 

The shift towards novel recombinant vaccines, coupled with their high prices, is anticipated to propel market growth over the forecast period. Moreover, the U.S. Advisory Committee on Immunization Practices has recommended vaccination against shingles in adults aged 60 and above since 2006. Whereas, in January 2018, the CDC recommended Shingrix over Zostavax to prevent Shingles owing to the high efficacy of the vaccine. Similarly, Canada, Australia, and some European countries also recommend vaccination to reduce the disease burden.

 

Gather more insights about the market drivers, restrains and growth of the Global Shingles Vaccine Market

 

The increasing cases of herpes zoster worldwide are expected to increase vaccine uptake in the coming years. The incidence of herpes zoster is estimated from 3 to 5 per 1,000 individuals per year and it increases with age. According to a study conducted in Germany, the estimated annual incidence of zoster is 5.79 cases per 1,000 population. The high risk of herpes zoster is expected to increase the adoption of shingles vaccines.

 

Moreover, the inclusion of shingles vaccines in national immunization programs of several countries is anticipated to boost market growth. For instance, in Australia, vaccination against shingles is funded under the National Immunization Program for adults aged 70 to 79 years, because people in this age group have a higher risk of developing herpes zoster and are expected to benefit the most from vaccination. Similarly, other countries such as the U.S., the U.K., and Italy have included shingles vaccination in their national immunization program to reduce the disease burden.

 

The medical cost burden of herpes zoster is increasing every year with the rising incidence of disease globally. The current treatments can only shorten the duration and lessen symptoms. To reduce the treatment cost burden of the healthcare system and the incidence of shingles, government regulatory bodies recommend vaccination against the disease.

 

Moreover, the cost-effectiveness of vaccines against herpes zoster compared to the treatment of shingles is anticipated to drive the uptake of vaccines globally. The cost of vaccination for one eligible adult ranges between USD 150 to USD 300 in the U.S. According to an estimate published in ResearchGate GmbH, the total annual medical care cost burden of Herpes zoster in the U.S. was over USD 1 billion.

 

Browse through Grand View Research's Pharmaceuticals Industry Research Reports

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Shingles Vaccine Market Segmentation

Grand View Research has segmented the global shingles vaccine market on the basis of product, vaccine type, and region:

Shingles Vaccine Product Outlook (Revenue, USD Million, 2017 - 2028)

  • Shingrix
  • Zostavax
  • SkyZoster

Shingles Vaccine Type Outlook (Revenue, USD Million, 2017 - 2028)

  • Recombinant Vaccine
  • Live Attenuated Vaccine

Shingles Vaccine Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

Market Share Insights

  • July 2021: GlaxoSmithKline plc. received FDA approval for Shingrix vaccines in adults aged 18 years and older. The vaccine is approved for adults who are or will be at increased risk for immunosuppression and immunodeficiency. 
  • May 2019: China's National Medical Products Administration has approved Shingrix to prevent shingles

 

Key Companies profiled:

Some prominent players in the global shingles vaccine market include:

  • GlaxoSmithKline plc.
  • Merck & Co., Inc.
  • SK chemicals
  • Green Cross Corp
  • Geneone Life Science
  • Vaccitech
  • CanSinoBIO

 

Order a free sample PDF of the Shingles Vaccine Market Intelligence Study, published by Grand View Research.

 

 

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