Shingles Vaccine Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 – 2030

  • Single User License $3500

Shingles Vaccine Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 – 2030

Status : February, 2023 | Pharmaceutical

Report Digest

Shingles Vaccine Market: Overview

The shingles vaccine market has been anticipated to experience growth avenues in the upcoming years. The increasing market growth can be attributed to the growing risk of shingles, especially among people over 60 and above. Further, various improvements are taking place in the healthcare policies in developed countries. Owing to these factors, the market has been anticipated to experience significant growth avenues in the years to come.

The increasing shift towards new recombinant vaccines along with their high prices is likely to fuel growth opportunities in the forecast period. The growing count of herpes zoster across the world has been estimated to increase the uptake of the vaccines in the forthcoming years. The increased risk of the herpes zoster is likely to increase the adoption of the shingles vaccines in the years to come. Thus, based on these factors, the shingles vaccine market has been anticipated to increase the growth avenues during the forecast period.

Shingles Vaccine Market: Key Trends

There are various countries around the world that have included shingles vaccines in their national immunization programs and this factor has been predicted to fuel growth opportunities in the forthcoming years. Various countries such as Italy, the U.K., and the U.S. have included this vaccination in the national immunization program of their respective countries in order to reduce the burden of shingles disease in their areas. Australia is providing funded services to provide vaccination against shingles for people aged 70 to 70 years. Owing to these factors, the shingles vaccine market has been predicted to experience noteworthy growth avenues in the years to come. 

There has been a noteworthy increase in the incidence of shingles disease around the world. This increasing rate of the disease also increases the burden of the medical cost of herpes zoster. The market available treatments can only lessen and shorten the duration of these symptoms. In order to reduce the cost of the treatment of this disease and minimize the incidence of shingles, the regulatory bodies by the government recommend vaccination against this disease. Further, the cost-effectiveness of the vaccines compared to the shingles treatment is likely to fuel growth opportunities in the market.

Shingles Vaccine Market: Competitive Dynamics and Key Developments

The key players serving in the shingles vaccine market have been incorporating different strategies to drive growth prospects during the forecast period. Strategic collaborations, geographical expansion, product enhancements, mergers, acquisitions, partnerships, regional expansion, and new product launches are used by prominent companies to generate expansion opportunities in the market.

For instance, GlaxoSmithKline plc. has received the approval of the FDA for Shingrix vaccines in July 2021. This vaccine has been approved for adults who are likely to be at an increased risk for immunodeficiency and immunosuppression.

Some key players in the global shingles vaccine market include:

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

Shingles Vaccine Market: Regional Assessment 

The shingles vaccine market has been spread in the different geographical areas around the world including Europe, North America, the Middle East & Africa, Asia Pacific, and Latin America. Out of these, the North America region is estimated to hold a significant position in the market in the forthcoming years. This market growth is due to the presence of key players in the region. In addition to this, increasing awareness among people related to healthcare services and recommendation of the vaccination against different diseases are some of the prominent factors to drive expansion opportunities in the regional market. Canada and the U.S. recommend the use of Shingrix over Zostavax in order to prevent shingles among the geriatric population because of the increased effectiveness of Shingrix.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?