Shingles Vaccine Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Shingles Vaccine Market Analysis
The Shingles vaccines market is expected to grow with a CAGR of 9.5% over the forecast period.
The COVID-19 pandemic affected the demand and production of Shingles vaccines during the pandemic. Many companies had decreased sales in the Shingles vaccines business due to the dominance of COVID-19 vaccination programs. For instance, as per the GSK 2021 annual report, the revenue generated from the Shingrix (Shingles) vaccine in FY2021 was GBP 1,721 (USD 2072.01) million, compared to GBP 1,989 (USD 2394.67) million in the previous year. The decrease in the revenue of the Shingles vaccine is primarily driven by lower demand in the United States and internationally for routine adult vaccination due to COVID-19 vaccination program deployment and disease circulation. This shows the decreased demand for the Shingles vaccine due to COVID-19 vaccination which adversely impacted the market. However, as per the same source, the company continued to inform people about the importance of immunization through disease awareness and branded campaigns for shingles which are expected to have a significant impact on the market over the coming years.
The key market drivers for the growth of the shingles vaccines market include the inclusion of shingles vaccines in national immunization programs, the cost-effectiveness of vaccines over treatments, and the increase in the prevalence of shingles diseases. The increasing coverage of the shingles vaccine is expected to boost the market growth. For instance, according to data updated by the United Kingdom Government in November 2022, 31.2% of patients aged 70 years and 74.9% of patients aged 76 years in the United Kingdom received the shingles vaccine during 2021-2022. This shows the high coverage of shingles vaccination which is expected to have significant growth in the market over the study period.
Furthermore, the new vaccine approvals and launches by the market players increase the widespread usage of shingles vaccines in various regions. For instance, in January 2023, SK bioscience received a biologics license application approval of the 'SKYZoster' from the National Pharmaceutical Regulatory Agency (NPRA) in Malaysia. These approvals help in providing vaccination in various regions which are expected to boost the market over the forecast period.
However, low awareness regarding shingles coupled with a weak product pipeline in various regions is expected to hinder the growth of the market over the forecast period.
Shingles Vaccine Market Trends
Shingrix is Expected to have Significant Growth in the Market Over the Forecast Period
Shingrix is an adjuvanted subunit vaccine that contains recombinant VZV glycoprotein E (gE). It is used in adults aged 50 years and over to protect against shingles (herpes zoster) and post-herpetic neuralgia (long-lasting nerve pain following shingles). The Shingrix is anticipated to hold the major share in the market attributable to the high efficacy of these vaccines with fewer consequences associated with them. Furthermore, the increase in awareness regarding the consequences of the disease and an increasing number of regulatory approval for Shingrix in various countries are contributing to an increase in demand for these vaccines during the forecast period.
Moreover, the high adoption of Shingrix among the developed countries in the North American and the European region also helps to boost the demand for these vaccines. After being licensed in the United Kingdom in September 2021, this vaccine was included in the national shingles immunization program.
In addition, the new approvals and launches of this vaccine in various regions increase the widespread distribution of Shingrix. For instance, in June 2022, Japan's MHLW accepted Shingrix's regulatory submission to prevent shingles in at-risk adults aged 18 years and older. Similarly, in January 2022, GSK launched Shingrix in Singapore for the prevention of shingles across the country. Thus, the new initiatives by the market players through new approvals and launches increase the widespread distribution of the vaccine and are expected to boost the market over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a significant share in the shingles vaccines market throughout the forecast period. The government's recommendation of the use of shingles vaccines, the presence of sophisticated healthcare infrastructure, and high awareness among patients regarding the importance of these vaccines are some prominent drivers for the growth of the shingles vaccine market during the forecast period.
Since shingles are caused due to the reactivation of the chickenpox virus, the high prevalence of chickenpox is expected to boost the requirement for shingles vaccines. For instance, in September 2022, Mexican health authorities reported 21,060 infections of chickenpox 2022 (11,057 men and 10,003 women), a much higher figure than in 2021, when 8,897 infections were registered, representing an increase of 137%. The high incidence rate of chickenpox increases the risk of the occurrence of shingles.
Furthermore, the availability of shingles vaccines for immunocompromised adults is expected to boost market growth. For instance, in October 2021, the CDC panel voted to recommend Shingrix as a vaccine against shingles for immunodeficient or immunosuppressed adults. Similarly, in July 2021, GSK plc received approval from United States FDA for Shingrix (Zoster Vaccine Recombinant, Adjuvanted) for the prevention of shingles (herpes zoster) in adults aged 18 years and older who are or who will be at increased risk of shingles due to immunodeficiency or immunosuppression caused by known disease or therapy. These factors contribute to the high demand for shingles vaccines in the North American region and are expected to have a significant impact on the market over the forecast period.
Shingles Vaccine Industry Overview
The shingles vaccines market is moderately competitive and consists of a few market players. With technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by introducing new vaccines with fewer side effects. Additionally, the key players are involved in strategic alliances, such as product approvals, acquisitions, and collaborations, with companies that complement their product portfolio. Some of the major market players include GSK plc., Merck & Co., Inc., Curevo Inc, Geneone Life Science, SK bioscience, and others.
Shingles Vaccine Market Leaders
Merck & Co., Inc.
Geneone Life Science
SK bioscience
GSK plc
Curevo Inc
*Disclaimer: Major Players sorted in no particular order
Shingles Vaccine Market News
- In February 2023, Pfizer Inc and BioNTech SE initiated a phase 1/2 trial exploring the safety, tolerability, and immunogenicity of the companies' mRNA vaccine candidates against shingles (also known as herpes zoster, or HZ), a debilitating disease caused by the varicella-zoster virus (VZV).
- In February 2023, Jiangsu Recbio Technology Co., Ltd completed the first batch of subject enrollment for its adjuvanted recombinant shingles vaccine, REC610.
Shingles Vaccine Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Inclusion of Shingles Vaccines in National Immunization Programs
4.2.2 Cost-effectiveness of Vaccines Over Treatment
4.2.3 Increase in Prevalence of Shingles Diseases
4.3 Market Restraints
4.3.1 Low Awareness Regarding Shingles Coupled With Weak Product Pipeline
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Shingrix
5.1.2 Zostavax
5.1.3 SKYZoster
5.2 By Vaccine Type
5.2.1 Recombinant Vaccine
5.2.2 Live Attenuated Vaccine
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 GSK plc
6.1.2 Merck & Co., Inc.
6.1.3 SK chemicals
6.1.4 Changchun BCHT Biotechnology Co
6.1.5 Geneone Life Science
6.1.6 Vaccitech
6.1.7 CanSinoBIO
6.1.8 Pfizer Inc
6.1.9 Curevo Inc
6.1.10 Jiangsu Recbio Technology Co., Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Shingles Vaccine Industry Segmentation
As per the scope of the report, Shingles is a viral infection that is caused by the reactivation of the chickenpox virus in the body. This disease may appear as a stripe of blisters on the torso or some other part of the body and are painful even after the rash is gone. Since treatment costs for the disease only shorten the duration and lessen symptoms, vaccinations are widely recommended by the government. The Shingles Vaccines Market is Segmented by Product (Shingrix, Zostavax, and SKYZoster), Vaccine Type (Recombinant Vaccine and Live Attenuated Vaccine), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Product | |
| Shingrix | |
| Zostavax | |
| SKYZoster |
| By Vaccine Type | |
| Recombinant Vaccine | |
| Live Attenuated Vaccine |
| Geography | ||||||||
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Shingles Vaccine Market Research FAQs
What is the current Shingles Vaccine Market size?
The Shingles Vaccine Market is projected to register a CAGR of 9.5% during the forecast period (2024-2029)
Who are the key players in Shingles Vaccine Market?
Merck & Co., Inc. , Geneone Life Science, SK bioscience, GSK plc and Curevo Inc are the major companies operating in the Shingles Vaccine Market.
Which is the fastest growing region in Shingles Vaccine Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Shingles Vaccine Market?
In 2024, the North America accounts for the largest market share in Shingles Vaccine Market.
What years does this Shingles Vaccine Market cover?
The report covers the Shingles Vaccine Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Shingles Vaccine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Shingles Vaccine Industry Report
Statistics for the 2024 Shingles Vaccine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Shingles Vaccine analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
