The shingles vaccine market size has the potential to grow by USD 1.08 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by type (recombinant vaccines and live-attenuated vaccines) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including CanSino Biologics Inc., Curevo Inc., GeneOne Life Science Inc., GlaxoSmithKline Plc, Merck & Co. Inc., SK Bioscience, and Vaccitech Ltd.
Market Competitive Analysis
The shingles vaccine market is concentrated and dominated by large pharmaceutical vendors that offer highly effective and safe vaccines. SK Bioscience and Vaccitech Ltd. are some of the major market participants. Although the high incidence and prevalence of shingles will offer immense growth opportunities, the side effects of shingles vaccines will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this shingles vaccine market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this shingles vaccine market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
CanSino Biologics, Inc.
GeneOne Life Science Inc.
Merck & Co., Inc.
Shingles Vaccine Market: Segmentation by Region
North America was the largest shingles vaccine market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing number of immunization programs and the strong prevalence of shingles will significantly influence shingles vaccine market growth in this region.
Over 85% of the market’s growth will originate from North America during the forecast period. The US is a key market for the shingles vaccine in North America. However, market growth in this region will be slower than the growth of the market in Asia and Europe.
Shingles Vaccine Market: Segmentation by Type
Recombinant vaccines depend on the capacity of one or several defined antigens to induce immunity against the pathogens. They are administered in the presence of adjuvants or harmless bacterial/viral vectors. The high efficacy and safety of recombinant vaccines is expected to boost the adoption of shingles vaccines during the forecast period.
Market growth in this segment will be faster than the growth of the market in the live-attenuated vaccines segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the shingles vaccine market size.
Shingles Vaccine Market: Key Drivers and Trends
The high incidence and prevalence of shingles will be a significant factor in driving the growth of the shingles vaccine market. The incidences of herpes zoster, also known as shingles, have increased rapidly over the past few decades. Shingles cause painful blistering rashes and can result in serious complications such as painful postherpetic neuralgia. The middle-aged adult population is more susceptible to shingles. It can re-occur several times during the lifetime of an individual. Hence, with increasing incidences and prevalence of shingles across the world, the demand for shingles vaccines is also expected to grow during the forecast period.
The growing health awareness and improvements in healthcare services have increased life expectancy and resulted in the expansion of the geriatric population.
The geriatric population is highly susceptible to shingles because of their weak immune system.
Aging weakens the immune system of an individual and can trigger the reactivation of the varicella-zoster virus, which leads to shingles.
The expanding geriatric population is expected to increase the adoption of shingles vaccines, thereby driving the market growth.
During 2020-2024, the shingles vaccine market will grow at a CAGR of over 7%.
Shingles Vaccine Market: Key Highlights of the Report for the Forecast Period 2020-2024
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will drive shingles vaccine market growth during the next five years
Precise estimation of the shingles vaccine market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the shingles vaccine industry across Asia, Europe, North America, and ROW
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of shingles vaccine market vendors