Shingles is a condition caused by the reactivation of Varicella Zoster Virus (VZV), the same virus that causes chickenpox. The characteristic symptom of shingles includes painful, itchy rashes developed on one side of the body. Shingles is often associated with increasing age-related complications such as postherpetic neuralgia (PHN). PHN is a painful condition which lasts from at least three months up to several years. CDC has estimated that approximately 10 to 13% of people aged 60 years and older with herpes zoster suffer from PHN. Currently, there are three marketed shingles vaccines, viz. Zostavax (Merck & Co., Inc.), Shingrix (GlaxoSmithKline plc) and SkyZoster (SK Chemicals).
The global shingles vaccine market is mainly driven by rising prevalence of shingles coupled with rising geriatric population and growing initiatives for making vaccine available to low- & middle-income countries. Furthermore, increasing support form government bodies and numerous organizations for vaccine development is also playing a pivotal role in contributing to the market growth globally. However, high cost of vaccine development and stringent government regulations are likely to restrain the market growth to a certain extent.
The global shingles vaccine market has been analyzed from three perspectives: Product, Vaccine Type and Region.
Based on product, the market has been segmented into Shingrix, Zostavax and SkyZoster. The Shingrix segment accounted for the largest share in the market owing to its effectiveness and growing popularity for 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).
Based on vaccine type, the shingles vaccine market has been segmented into live vaccine and recombinant vaccine. The recombinant vaccine segment holds the largest share in the market. The growth of the segment can mainly be attributed to the logarithmic growth in the sales of Shingrix by GlaxoSmithKline plc, in the past few years owing to its effectiveness and minimal side effects. The company claims it to be the only shingles vaccine to achieve more than 90% efficacy across all age groups.
Based on region, the global shingles vaccine market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the shingles vaccine market, followed by Asia Pacific. The large share of North America in the global market can largely be attributed to growing geriatric population, high incidence rate of shingles disease in the region and favorable reimbursement policies. Nearly, 1 out of 3 Americans is affected by shingles in their lifetime and the incidence rates increase after the age of 50 and the same pattern is observed in Canada as well.
The shingles vaccine market is marked by presence of prominent players such as GlaxoSmithKline plc., Merck & Co., Inc., SK bioscience., among others.
• In Jul 2018, SK Chemicals separated its business division into a new company, SK Bioscience, a wholly-owned subsidiary of SK Chemicals that is focused on strengthening its vaccine business
• In May 2018, SK Chemicals Co. entered into partnership with Daewoong Pharmaceutical Co. for marketing SkyZoster in Korea. The partnership aimed to increase SkyZoster’s share in the local shingles vaccine market to 50 percent by the end of 2018.
• In Oct 2017, GlaxoSmithKline plc announced that the US Food and Drug Administration (FDA) has approved Shingrix (Zoster Vaccine Recombinant, Adjuvanted) for the prevention of shingles (herpes zoster) in adults aged 50 years and older in the US
• Quantitative (market size and forecasts) and qualitative insights of the market across years - historical years, current year and forecasted years
• Deep-rooted insights on headwinds, tailwinds and opportunities prevailing in the market
• Quantitative (market size and forecasts) and qualitative insights at segment and sub-segment level
• Comprehensive quantitative (market size and forecasts) and qualitative insights on geographic, regional and country level markets
• Granular insights on the competitive landscape prevailing in the market
• Competitive mapping of strategic developments
|Market Size Period||2018-2031|
|Market Segments||Asessment of Shingles Vaccines Market By:
• Vaccine Type
|Geographic Scope||• North America
◦ Rest of Europe (RoE)
• Asia Pacific
◦ Rest of Asia Pacific (RoAPAC)
• Rest of the World
◦ Latin America
◦ Middle East & Africa
|Companies Covered||GlaxoSmithKline plc., Merck & Co., Inc., SK bioscience., among others.|
1 RESEARCH ENVELOPE
1.1 Market Classification
1.2 Scope of the Study
1.2.1 Timeline Considered for Market Study
· Historic Years – 2018 & 2019
· Base Year – 2020
· Projected Years – 2021 to 2031
1.3 Currency Used in the Report
2 RESEARCH METHODOLOGY
2.1 Research Approach
2.2 Data Collection Methodology
2.3 Data Sources
2.3.1 Secondary Sources
2.3.2 Primary Sources
2.4 Market Crackdown Methodology
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Data Forecasting Model
2.6 Limitations and Assumptions for Study
3 HEADWINDS & TAILWINDS ASSESSMENT
4 MARKET OPPORTUNITIES ASSESSMENT
5 PREMIUM INSIGHTS
5.1 Key Market Trends
5.2 Key Players & Their Competitive Positioning (2020)
5.3 COVID-19 Impact Assessment
5.4 Pipeline Assessment
6 GLOBAL SHINGLES VACCINE MARKET - ANALYSIS & FORECAST, BY PRODUCT
7 GLOBAL SHINGLES VACCINE MARKET - ANALYSIS & FORECAST, BY VACCINE TYPE
7.1 Live Vaccine
7.2 Recombinant Vaccine
8 GLOBAL SHINGLES VACCINE MARKET - ANALYSIS & FORECAST, BY REGION
8.1 North America Shingles Vaccine Market
8.1.1 North America Shingles Vaccine Market, By Country
8.1.2 North America Shingles Vaccine Market, By Product
8.1.3 North America Shingles Vaccine Market, By Vaccine Type
8.2 Europe Shingles Vaccine Market
8.2.1 Europe Shingles Vaccine Market, By Country/Region
188.8.131.52 Rest of Europe (ROE)
8.2.2 Europe Shingles Vaccine Market, By Product
8.2.3 Europe Shingles Vaccine Market, By Vaccine Type
8.3 Asia Pacific Shingles Vaccine Market
8.3.1 Asia Pacific Shingles Vaccine Market, By Country/Region
184.108.40.206 Rest of Asia Pacific (RoAPAC)
8.3.2 Asia Pacific Shingles Vaccine Market, By Product
8.3.3 Asia Pacific Shingles Vaccine Market, By Vaccine Type
8.4 Rest of the World (RoW) Shingles Vaccine Market
8.4.1 Rest of the World Shingles Vaccine Market, By Region
220.127.116.11 Latin America
18.104.22.168 Middle East & Africa
8.4.2 Rest of The World Shingles Vaccine Market, By Product
8.4.3 Rest of The World Shingles Vaccine Market, By Vaccine Type
9 COMPANY PROFILES
9.1 GlaxoSmithKline plc.
9.1.1 Business Overview
9.1.2 Financial Metrics*
9.1.3 Product Portfolio
9.1.4 Key Developments
9.2 Merck & Co., Inc.
9.3 SK Chemicals
9.4 Other Players
*Insights on financial metrics is subject to availability of information in the public domain
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