Shingles Vaccine Market Set to Soar With High Double-Digit Growth

The Global Shingles Vaccine Market is expected to clock US$ ~20 billion by 2031 owing to the rising prevalence of shingles, rising number of approvals worldwide, strong product pipeline of the shingles vaccine, and growing public & private initiatives.

Clairvoyance Research conducted an in-depth market analysis study of the Global Shingles Vaccine Market. The study comprehensively analyzes the market from different perspectives and provides granular insights on hot revenue pockets, headwinds & tailwinds impacting the market, quantitative (market size & forecasts), and qualitative analysis on different segments, product pipeline, key strategies, and competitive landscape.

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Inclusion of Shingles Vaccine in National Immunization Programmes - A Pivotal Factor Spurring its Demand

The inclusion of the shingles vaccine in the national immunization programme by various government agencies and rising initiatives by the various organization is expected to boost the growth of the Shingles market. For instance, from Nov 2016, Herpes zoster (shingles) vaccination is recommended and funded under the National Immunization Programme in Australia. The programme provides a free dose of the shingles vaccine, Zostavax (Merck & Co., Inc.), for people aged 70 years. In addition, the programme includes a five-year catch-up programme for people aged 71 – 79 years until 31 October 2021.

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.

In another instance, starting mid-October 2020, the Ontario publicly-funded shingles immunization programme. Shingrix was authorized for use in Canada in October 2017 as a two-dose series for individuals 50 years of age and older for the prevention of herpes zoster (HZ).

Rising Product Approvals Set to Catapult the Global Shingles Vaccines Market

Rising shingles vaccine approvals in various key markets is another pivotal factor that is expected to bolster its demand in the coming years. For instance, in July 2021, GlaxoSmithKline plc received US FDA approval for Shingrix in the U.S. for the prevention of shingles in immunocompromised adults.

Similarly, in May 2019, GlaxoSmithKline plc. received approval for Shingrix by National Medical Products Administration (NMPA) for introducing the vaccine in China.

The global shingles vaccine market has been analyzed from three different perspectives – Product, Vaccine Type, and Region.

Key Takeaways – Product Perspective

The global shingles vaccine market has been segmented majorly into three distinct categories depending on the product, viz. Shingrix, Zostavax and SkyZoster. The Shingrix segment holds the largest share in the market in the shingles vaccine market. The growth of the segment can be mainly attributed to its effectiveness and its growing popularity for the prevention of shingles. Since the approval of the Shingrix vaccine, it has created a paradigm shift in the prevention of shingles. The vaccine has protected millions of people from the disease and its potentially debilitating symptoms. Over the years, Shingrix has received the prestigious Prix Galien award in every country: US (best pharmaceutical product), Germany (best primary care product), and Canada (best innovative product).

Key Takeaways – Regional Perspective

The global shingles vaccine market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America commanded the largest share in the global shingles vaccine market, followed by the Asia Pacific, Europe & the Rest of the World (RoW). Factors such as the growing geriatric population, the high incidence rate of shingles disease in the region, and favorable reimbursement policies can be attributed to the large share of the region in the global market. Nearly, 1 out of 3 Americans is affected by shingles in their lifetime and the incidence rates increase after the age of 50. Similar trends have been observed in Canada as well.

Snapshot - Competitive Landscape

The shingles vaccine market is marked by the presence of prominent players such as are GlaxoSmithKline plc., Merck & Co., Inc., SK bioscience., among others.

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