Shingles Vaccine Market Will Reflect the Noticeable CAGR by the End of Forecast Period 2028

The global shingles vaccine market size was valued at 2.99 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.9% from 2021 to 2028. The increased risk of developing shingles, especially in adults aged 60 and above, and improvement in healthcare policies in developed countries are factors expected to fuel the market growth. According to the CDC estimates, around one out of three individuals in the U.S. will develop shingles in their lifetime. Vaccination is recommended in major countries such as the U.S. Canada, the U.K., Italy, Germany, Australia, New Zealand, and South Korea.

The increasing cases of herpes zoster worldwide are expected to increase vaccine uptake in the coming years. The incidence of herpes zoster is estimated from 3 to 5 per 1,000 individuals per year and it increases with age. According to a study conducted in Germany, the estimated annual incidence of zoster is 5.79 cases per 1,000 population. The high risk of herpes zoster is expected to increase the adoption of shingles vaccines.

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Moreover, the inclusion of shingles vaccines in national immunization programs of several countries is anticipated to boost market growth. For instance, in Australia, vaccination against shingles is funded under the National Immunization Program for adults aged 70 to 79 years, because people in this age group have a higher risk of developing herpes zoster and are expected to benefit the most from vaccination. Similarly, other countries such as the U.S., the U.K., and Italy have included shingles vaccination in their national immunization program to reduce the disease burden.

Key Player Mentioned:

 

• GlaxoSmithKline plc.
• Merck & Co., Inc.
• SK chemicals
• Green Cross Corp
• Geneone Life Science
• Vaccitech
• CanSinoBIO

Product Segment Analysis:

• Shingrix
• Zostavax
• SKYZoster

Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa

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The shift towards novel recombinant vaccines, coupled with their high prices, is anticipated to propel market growth over the forecast period. Moreover, the U.S. Advisory Committee on Immunization Practices has recommended vaccination against shingles in adults aged 60 and above since 2006. Whereas, in January 2018, the CDC recommended Shingrix over Zostavax to prevent Shingles owing to the high efficacy of the vaccine. Similarly, Canada, Australia, and some European countries also recommend vaccination to reduce the disease burden.

The medical cost burden of herpes zoster is increasing every year with the rising incidence of disease globally. The current treatments can only shorten the duration and lessen symptoms. To reduce the treatment cost burden of the healthcare system and the incidence of shingles, government regulatory bodies recommend vaccination against the disease.

Moreover, the cost-effectiveness of vaccines against herpes zoster compared to the treatment of shingles is anticipated to drive the uptake of vaccines globally. The cost of vaccination for one eligible adult ranges between USD 150 to USD 300 in the U.S. According to an estimate published in ResearchGate GmbH, the total annual medical care cost burden of Herpes zoster in the U.S. was over USD 1 billion.

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