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,...