Shingles Vaccines Market – Global Outlook & Forecast 2021-2031

Shingles Vaccine Market by Product [Shingrix, Zostavax and SkyZoster], Vaccine Type [Live Vaccine and Recombinant Vaccine] – Global Analysis & Forecast 2021-2031

Clairvoyance Research conducted an in-depth market analysis study of the global shingles vaccine market. According to the study, the market was valued at ~US$ 4.2 billion in 2020. The market is expected to witness a CAGR of ~17.9% from 2021 to 2031. 

Rising prevalence of shingles coupled with rising geriatric population, growing initiatives for making vaccine available to low- & middle-income countries and increasing support from government bodies & numerous organizations for vaccine development are some of the pivotal factors propelling the growth of the shingles vaccine market. However, high cost of vaccine development and stringent government regulations are likely to hamper the growth of the market to a certain extent.

With an aim to fast-track the development of shingles vaccine and to meet the needs of the healthcare sector, several initiatives such as providing necessary grants, permissions, clearances & approvals have been instigated by various organizations and government agencies across the world. For instance, in May 2019, National Medical Products Administration (NMPA) gave approval to GlaxoSmithKline plc for introducing Shingrix (shingles vaccine) in China. Shingrix was anticipated to be available in China from 2020 to ensure consistent and reliable supply of the vaccine.

In 2019, there were ~700 million older people aged 65 or older globally. Eastern and South-Eastern Asia accounted for the highest number of older people in the world, followed by Europe and North America. According to World Population Ageing 2019, Japan has the most elderly population in the world and will continue to hold this lead by 2050. Shingles affects around 3 million adults in China annually and ~60,00,000 cases are reported each year in Japan. Moreover, 1 out of 3 people in the United States develop shingles in their lifetime and around 1-4% of people suffering from shingles are hospitalized for complications.

Prominent players in the market are continuously striving to launch several new and technologically advanced vaccines that can offer more advantages. In September 2019, Curevo, Inc., a Seattle-based biotechnology company announced promising results of their phase I clinical trial of shingles vaccine candidate CRV-101. CRV-101 is a next-generation shingles vaccine candidate designed to maximize the CMI (cell-mediated immunity) protection by combining the gE protein antigen with Curevo’s proprietary adjuvant.

However, stringent government regulations may hamper the growth of the market to a certain extent. Adherence to strict regulatory conditions for meeting the prerequisites of vaccine approval is a crucial factor. Failing to meet the regulatory standards remains a major concern in vaccine development. In addition, there are strict regulations for export & import of vaccines and other biological products.

The Asia Pacific region is expected to be the fastest growing shingles vaccine market. Factors such as developing healthcare infrastructure, rising R&D investments by prominent players to develop & approve vaccines in the region and increasing awareness on immunization programmes can be attributed to the growth of the market. Countries such as China, Japan, and Australia in the APAC region are projected to offer significant growth opportunities owing to growing approvals for shingles vaccines in APAC countries, and high risk of shingles in the region. For instance, around 120,000 new cases of shingles occur each year in Australia. In 2016, the Australian government allotted US$ 100 million over four years to provide the vaccine free through the National Immunisation Program and expects around 240,000 people to be immunized each year.

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

About Us

Clairvoyance Research is a leading market research and consulting firm, based out in Kolkata, India. Our research solutions are structured around the following verticals: Healthcare (Medical Devices, Biotechnology, Healthcare IT, Pharmaceuticals, and Others), Food & Beverage, Consumer Goods, Automotive & Transportation, Chemicals & Materials & Others.

Our main offerings are syndicate reports and consulting assignments – We track a number of verticals and strategically publish syndicate reports on topics that have traction in the market. Over the years, we have developed a forte in executing consulting assignments – Clairvoyance Research has been a trusted partner to over 300 global organizations including Fortune 500 companies. We partner with clients from across the globe to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. We have a rich pool of clientele spanning leading medical device/biotechnology/healthcare IT/pharmaceutical companies, IT/FMCG/automotive/food & beverage companies, consulting companies, private equity firms, venture capitalists, investment banks, government bodies, academic/research institutes, and universities.

We internally house one of the best talents in the industry – Industry Veterans [Subject Matter Experts (SMEs), Key Opinion Leaders (KOLs)] from different verticals with a profound experience of several decades are there on our panel. At each stage of the study, these experts add value to our reports and consulting assignments. We nurture crème de la crème resources; our analysts/consultants come from robust educational backgrounds. The rich pool of experts and analysts/consultants at Clairvoyance Research ensures that the final research study is accurate, universally accepted, and of the highest quality.

 

Contact Us

sales@clairvoyanceresearch.com

Website: www.clairvoyanceresearch.com


Latest Reports

Popular Reports

Summer 3E,Purti Season,22 Buroshibtalla Main Road, Near Leela Petrol Pump, Kolkata, West Bengal-700038
+ 91 8761988338
10 AM to 10 PM
info@clairvoyanceresearch.com
Support line
TOP