The Worldwide Shingles Vaccine Industry is Expected to Reach $6.35 Billion by 2028

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Apr 13, 2022, 16:30 ET

DUBLIN, April 13, 2022 /PRNewswire/ -- The "Shingles Vaccine Market Size, Share & Trends Analysis Report By Product (Shingrix, Zostavax, SkyZoster), By Vaccine Type (Recombinant Vaccine, Live Attenuated Vaccine), By Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.

The global shingles vaccine market size is expected to reach USD 6.35 billion by 2028. It is expected to expand at a CAGR of 9.9% from 2021 to 2028.

Increasing incidence of shingles and high awareness regarding shingles in developed countries are contributing to the market growth. According to the CDC, nearly one million cases of shingles are reported each year in the United States. Furthermore, one out of three individuals in the country will develop the disease in their lifetime.

The increasing adoption of vaccines and an increase in the recommendation of vaccination by different government regulatory bodies are expected to drive the market over the forecast period. For instance, in February 2019, the U.K. Joint Committee of Vaccination and Immunization (JCVI) has recommended the use of the recombinant vaccine to prevent shingles in adults aged 60 to 70 years old.

The inclusion of shingles vaccines in national immunization programs of several countries is anticipated to propel the demand for vaccines. For instance, the shingles vaccine is a part of the national immunization program in the U.K. since 2013. The U.K. is the first country in the European region to introduce shingles vaccine in the national immunization program and it costs around USD 130 to the National Health Service (NHS) for each dose of the vaccine. Similarly, other countries such as the U.S., Italy, Australia, and some provinces of Canada and South Korea have also included the vaccine in their immunization program.

Besides, favorable initiatives undertaken by market players and regulatory bodies to increase the awareness among people who are at risk of developing the disease are expected to fuel the market growth over the coming years. For instance, GlaxoSmithKline plc. has launched a campaign to increase vaccination rates among older adults by educating people about the benefits associated with vaccination.

The high efficacy of vaccines is expected to increase the adoption over the forecast period. According to clinical trial results, Shingrix is highly efficient to prevent shingles and postherpetic neuralgia. Two doses of Shingrix are more than 90% effective to prevent the disease in adults aged 50 years and above. Protection stays above 85% for at least the first four years after getting vaccinated.

The availability of vaccines at lower prices, coupled with a high incidence of the disease and high vaccination rate in developed countries, is anticipated to fuel the market growth. The vaccination rate against shingles in the U.K., the U.S., France, Canada, Germany, and South Korea is higher compared to other countries owing to better reimbursement policies and high awareness levels regarding the disease and vaccines. For instance, the U.K. has the highest shingles vaccine uptake with more than 60% vaccination of eligible adults.

Shingles Vaccine Market Report Highlights

By product, Shingrix held the largest share in 2020 owing to the high efficacy of the vaccine as compared to others. Shingrix is also expected to grow at a significant CAGR over the forecast period owing to the increasing recommendations by regulatory bodies to prevent shingles.
Based on vaccine type, the recombinant vaccine segment is anticipated to grow at a substantial rate over the forecast period due to the low risk associated with recombinant vaccines.
Asia Pacific is projected to witness the fastest growth during the forecast period owing to the high unmet needs and the rising adoption of vaccination programs in the region.
North America dominated the market in 2020 due to favorable reimbursement policies and rising initiatives to raise awareness among healthcare professionals and patients.

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Shingles Vaccine Market Variables, Trends & Scope
3.1 Shingles Vaccine Market Lineage Outlook
3.1.1 Parent market outlook
3.1.2 Ancillary market
3.2 Penetration & Growth Prospect Mapping
3.3 Market Dynamics
3.3.1 Market driver analysis
3.3.1.1 Increasing risk of developing shingles
3.3.1.2 Increase in the recommendation of shingles vaccination
3.3.1.3 Cost-effectiveness of vaccination
3.3.2 Market restraint analysis
3.3.2.1 Low awareness regarding shingles
3.3.2.2 Weak product pipeline
3.4 Clinical Laboratory Services Market Analysis Tools
3.4.1 Porter's Five Forces Analysis
3.4.2 SWOT Analysis; By factor (Political & Legal, Economic and Technological)
3.4.2.1 Political And Legal
3.4.2.2 Economic & Social
3.4.2.3 Technological

Chapter 4 Shingles Vaccine Market: Segment Analysis, By Product, 2017 - 2028 (USD Million)
4.1 Shingles Vaccine Market: Product Movement Analysis
4.1.1 Shingrix
4.1.1.1 Shingrix market estimates and forecast, 2017 - 2028
4.1.2 Zostavax
4.1.2.1 Zostavax market estimates and forecast, 2017 - 2028
4.1.3 SKYZoster
4.1.3.1 SKYZoster market estimates and forecast, 2017 - 2028

Chapter 5 Shingles Vaccine Market: Segment Analysis, By Vaccine Type, 2017 - 2028 (USD Million)
5.1 Shingles Vaccine Market: Vaccine Type Movement Analysis
5.1.1 Recombinant vaccine
5.1.1.1 Recombinant vaccine market estimates and forecast, 2017 - 2028
5.1.2 Live attenuated Vaccine
5.1.2.1 Live attenuated vaccine market estimates and forecast, 2017 - 2028

Chapter 6 Shingles Vaccine Market: Segment Analysis, By Region, 2017 - 2028 (USD Million)

Chapter 7 Competitive Landscape
7.1 Recent Developments & Impact Analysis, By Key Market Participants
7.1.1 Company/Competition Categorization (Key innovators, Market leaders, Emerging Players)
7.1.1.1 Vendor Landscape
7.1.1.1.1 Key company market share analysis, 2020
7.1.1.2 Public Companies
7.1.1.2.1 Company market position analysis, 2020
7.1.1.2.2 Competitive dashboard analysis
7.1.1.2.3 Synergy analysis: Major deals and strategic alliances
7.2 Company Profiles
7.2.1 GlaxoSmithKline plc.
7.2.1.1 Company overview
7.2.1.2 Financial performance
7.2.1.3 Product benchmarking
7.2.1.4 Strategic initiatives
7.2.2 Merck & Co., Inc.
7.2.2.1 Company overview
7.2.2.2 Financial performance
7.2.2.3 Product benchmarking
7.2.2.4 Strategic initiatives
7.2.3 SK chemicals
7.2.3.1 Company overview
7.2.3.2 Financial performance
7.2.3.3 Product benchmarking
7.2.3.4 Strategic initiatives
7.2.4 Green Cross Corp
7.2.4.1 Company overview
7.2.4.2 Curevo Vaccine
7.2.4.3 Financial performance
7.2.4.4 Product benchmarking
7.2.4.5 Strategic initiatives
7.2.5 CanSinoBIO
7.2.5.1 Company overview
7.2.5.2 Financial performance
7.2.5.3 Product benchmarking
7.2.5.4 Strategic initiatives
7.2.6 Geneone Life Science
7.2.6.1 Company overview
7.2.6.2 Product benchmarking
7.2.6.3 Strategic initiatives
7.2.7 Vaccitech
7.2.7.1 Company overview
7.2.7.2 Product benchmarking
7.2.7.3 Strategic initiatives