Shingles Vaccines Market Size, Share, Industry, Forecast and outlook (2024-2031)

Shingles Vaccines Market is Segmented By Product (Shingrix, Zostavax, SKYZoster), By Vaccine Type ( Recombinant Vaccine, Live Attenuated Vaccine), By Distribution Channel ( Hospital Pharmacy, Retail Pharmacy, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Shingles Vaccines Market Overview

Shingles Vaccines Market is estimated to reach at a CAGR of 10.00% during the forecast period 2023 to 2030.

This vaccine is recommended in many developed countries such as the US, Canada, Germany, and the UK. In Australia, the shingles vaccines are free under the National Immunisation Program (NIP) for adults aged 70 years. Numerous economies such as Italy, the United Kingdom, and the United States have comprised this vaccination in the national immunization program of their particular countries to decrease the problem of shingles disease in their areas. Australia is providing funded facilities to give the vaccination in contradiction of shingles to individuals aged 70 to 70 years. Due to these influences, the shingles vaccines market has been projected to experience noteworthy growth paths in the coming years.

The cost-effectiveness of shingles vaccine overtreatment is a major driver for the global shingles vaccines market. The CDC-recommended vaccine, Shingrix, is a recombinant zoster vaccine with two doses administered within six months. Treatment for shingles is highly expensive and only alleviates the symptoms. Health experts widely recommend vaccination due to its effectiveness. The cost-effectiveness of shingles vaccines over treatment will be a major driver for the global shingles vaccines market during the forecast period.

Shingles Vaccines Market Scope

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What are Shingles?

Shingles, also known as herpes zoster, is a viral infection affecting the cranial nerves originating in the brain. It is caused by the varicella-zoster virus, which also causes chicken pox. The shingles vaccine is a vaccine that reduces the incidence of herpes zoster. CDC recommends that adults 50 years and older get two doses of the shingles vaccine called Shingrix (recombinant zoster vaccine) to prevent shingles and the complications from the disease. Shingle is a viral infection that is caused by the reactivation of the chickenpox virus in the body. This disease may appear as a stripe of blisters on the torso or some other part of the body and are painful even after the rash is gone. Since treatment costs for the disease only shorten the duration and lessen symptoms, vaccinations are widely recommended by the government.

Key Insights By Region:

North America is a key region for the global shingles vaccines market, mainly due to the high prevalence of shingles. The region is also home to major pharmaceutical and biotechnological companies undertaking research into new vaccines and shingle treatments. For example, in 2021, GlaxoSmithKline plc announced it had won regulatory approval for the Shingrix vaccine in U.S. and Canada. The North American shingles vaccines market is expected to undergo significant growth in the coming years.

The prevalence of shingles is relatively low in Europe; however, preventative inoculation occurs in all major European countries such as Germany, the UK, and Italy. Preventative inoculation is expected to drive the growth of the European shingles vaccines market.

The increasing prevalence of shingles in the region has opened up new opportunities for the Asia-Pacific shingles vaccines market. China reports more than 1.5 million new cases of shingles among people aged 50 and up yearly, owing to a drop in cellular immunity caused by aging. Japan also reports more than 600,000 cases of shingles each year, mainly on account of an increasingly aging population.

Shingles Vaccines Market Dynamics and Restraints

The side effects associated with the shingles vaccine are expected to restrain the global shingles vaccines market:

Over the forecast period, the side effects associated with shingles vaccines are expected to prevent the growth of the global market for shingles vaccines. Most people get a sore arm with mild or moderate pain after getting the shingles vaccine and may also experience redness and swelling in the area of the shot. Other side effects include muscle pain, headache, shivering, fever, stomach pain, and nausea. Occasionally, people may get a severe allergic reaction like anaphylaxis, which can be life-threatening but is treatable.

The increasing shift towards recombinant vaccines is expected to generate new opportunities for the global market:

The recombinant shingles vaccine is recommended for adults over 50 years of age without major immune problems. It is given as a two-dose series. Although recombinant zoster vaccine requires two doses, it has an efficacy of more than 90% and offers a longer duration of protection. Therefore, the increasing shift towards recombinant vaccines is expected to create new opportunities for the market in the forecast period.

Low awareness about shingles is expected to present challenges for the global market:

As per the survey conducted by PUBMED, less than 20% of individuals surveyed in major developing countries such as India and Turkey were aware of shingles. The survey revealed almost universally poor knowledge of the causes and symptoms of shingles. The low awareness about shingles is expected to present challenges for the growth of the global shingles vaccine market.  

COVID-19 Impact Analysis

The COVID-19 pandemic had a positive and a negative impact on the global market. The COVID-19 infection caused reactivation of herpes zoster in immunocompromised individuals. The pandemic also caused a decline in the production and sales of shingles vaccines as manufacturers prioritized the COVID-19 vaccine. Despite the challenges of the pandemic, the global shingles vaccines market is expected to regain growth during the forecast period.

Recent Developments in the Industry:

1. In July 2021, GlaxoSmithKline plc announced that it had won approval from the U.S. FDA for the Shingrix recombinant shingles vaccine.
2. In July 2022, Maxvax Biotechnology and Beijing Luzhu Biotechnology, two Chinese biotech companies, raised USD 74 million for multiple clinical trials of their recombinant shingles vaccines candidates.
3. In October 2021, the CDC panel voted to recommend Shingrix as a vaccine against shingles for immunodeficient or immunosuppressed adults.

Shingles Vaccines Market Segmentation Analysis

The scope of the report covers segmentation based on product, vaccine type, distribution channel, and region. The global market is segmented by product into Shingrix, Zostavax, and SKYZoster. The global shingles vaccines market is segmented by vaccine type into recombinant vaccines and live attenuated vaccines. The global shingles vaccines market is segmented by distribution channel into hospital pharmacies, retail pharmacies, and others.

1. Recombinant Vaccine: Recombinant vaccines are produced using recombinant DNA technology or genetic engineering for the prevention of lethal diseases in human beings and animals. A recombinant vaccine is a biological preparation that provides active acquired immunity against a certain disease.
2. Live Attenuated Vaccine: Live-attenuated vaccines are those in which the disease-causing pathogen remains active. Advantages of live-attenuated vaccines over some other forms of vaccines include the production of a robust, strong antibody and cell-mediated immune response, long-lasting immunity, with a relatively quick onset of action.

Shingles Vaccines Market Competitive Landscape

The global shingles vaccines market is consolidated and includes many major global and regional companies. The leading market players are adopting various strategies such as mergers and acquisitions, product approvals, and agreements to increase product reach and strengthen their product portfolios, to enter or expand their business offerings and competitiveness in the shingles vaccines industry.

Major Companies:

Some key companies contributing to the global shingles vaccines industry growth include GlaxoSmithKline plc., Merck & Co. Inc., SK Bioscience, GC Pharma, Vaccitech, Geneone Life Science, Shulov Innovative Science, and EYEGENE lnc., among others.

GlaxoSmithKline 

Overview: 

GlaxoSmithKline PLC is a global healthcare company. The Company operates through two segments: Pharmaceuticals and Vaccines. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology, and Rare diseases.    

Product Portfolio:

SHINGRIX:  SHINGRIX is an FDA-approved vaccine for the prevention of shingles (herpes zoster) in adults 50 years and older. SHINGRIX is not used to prevent chickenpox.