Home Healthcare IT Global Shingles Vaccine Market Size, Top Share, Forecast 2031

Shingles Vaccine Market

Shingles Vaccine Market Size, Share & Trends Analysis Report By Product (Shingrix, Zostavax, SKYZoster), By Vaccine Type (Recombinant Vaccine, Live Attenuated Vaccine) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SRHI55647DR
Study Period 2019-2031 CAGR 8.5%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 4.4 Billion
Forecast Year 2031 Forecast Year Market Size USD 9.1 Billion
Largest Market North America Fastest Growing Market Asia Pacific
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Market Overview

The global shingles vaccine market size was valued at USD 4.4 billion in 2022 and is projected to reach USD 9.1 billion by 2031, registering a CAGR of 8.5% during the forecast period (2023-2031). The increasing risk of contracting shingles, particularly in persons aged 60 and older, and healthcare policy improvements in developed nations are projected to foster the shingles vaccine market growth.

Shingles is a chronic condition caused by the varicella-zoster virus (the same virus that causes chickenpox). Shingles can cause excruciating skin rashes and severe nerve pain, known as postherpetic neuralgia (PHN), which can continue for months or years after the rash has healed. The shingles vaccine activated the body's immune system using a weakened chickenpox virus to combat the disease. This vaccination reduces the risk of acquiring shingles by around 50% and long-term nerve harm by approximately 65%. Zostavax and Shingrix are the two shingles vaccinations available on the market. 

Several reasons are driving market expansion, including an increased chance of acquiring shingles, especially among those aged 60 and older, and improvements in healthcare legislation in developed countries. Furthermore, the industry is being boosted by a trend towards novel recombinant vaccines despite their comparatively greater cost, which helps with their development prospects.

Market Dynamics

Global Shingles Vaccine Market Drivers

Aging Population

The global aging population has an impact on the shingles vaccine market trend. As people get older, their risk of having shingles rises, creating a greater need for preventive measures. The World Health Organization (WHO) predicts that the global population of persons aged 60 and up will more than quadruple by 2050, reaching nearly 2.1 billion people. Many of the population in developed countries such as the United States, Japan, and some European nations are already in the elder age category. The risk of shingles rises dramatically with age, especially after age 50. According to the Centers for Disease Control and Prevention (CDC), one in every three persons in the United States will have shingles at some point, and the risk increases with age. Aging is connected with reduced immunological function, making people more susceptible to infections. The reduced immune response in older people contributes to the reactivation of the varicella-zoster virus, which results in shingles.

Furthermore, studies have revealed that a considerable number of shingles cases occur in those over 50. Over 99% of persons aged 40 and older in the United States show signs of previous varicella infection and are thus at risk of acquiring shingles. Vaccination coverage also tends to rise with age, especially for vaccines indicated for older persons. According to healthcare reports, as awareness efforts and vaccination recommendations target older populations, shingles vaccine uptake is increasing. As a result, European countries such as Germany and Italy have some of the highest median ages in the world, resulting in a higher prevalence of shingles in these areas.

Global Shingles Vaccine Market Restraints:

Limited Awareness in Certain Regions

In certain regions, there may be a lack of general public understanding regarding the significance of shingles immunization. The global level of awareness about shingles and the importance of immunization varies greatly. There may be limited public education efforts on shingles and preventive measures in certain low- and middle-income countries. Furthermore, a lack of understanding of vaccines and their benefits might contribute to inadequate vaccine literacy, which impacts awareness. Communities with a low level of health literacy may be unaware of the dangers of shingles and the potential advantages of vaccination. Some localities may lack tailored education initiatives for specific demographic groups, such as at-risk older persons. Targeted educational programs may be missing in remote locations or communities with minimal healthcare facilities.

Furthermore, healthcare providers in some areas may not be adequately educated on the necessity of shingles immunization. Due to a lack of information, healthcare practitioners in several impoverished countries may prioritize alternative immunizations over shingles. Some countries may not prioritize shingles vaccination in their public health campaigns. Government-sponsored vaccination programs may prioritize infant immunizations while ignoring adult vaccinations, including shingles. A lack of knowledge in specific places hampers the global endeavor to boost shingles vaccination rates. To address this barrier, specific education programs, culturally relevant marketing, and partnerships between healthcare providers and governments to prioritize adult immunizations are required. Closing awareness gaps can increase vaccination uptake and public health outcomes in preventing shingles.

Global Shingles Vaccine Market Opportunity:

Government Initiatives and Funding

Increased government initiatives and funding for adult immunization programs can improve accessibility and affordability. Governments can add shingles vaccinations to existing immunization programs, guaranteeing greater coverage and accessibility. In the United States, the Centers for Disease Control and Prevention (CDC) advises shingles vaccination for persons aged 50 and older, with certain states providing free or subsidized vaccines through public health programs. Governments can fund shingles vaccines to ease the cost burden on individuals, particularly older people. In the United Kingdom, adults aged 70 to 79 are eligible for a free shingles vaccine as part of the National Health Service (NHS) vaccination program. Integrating shingles vaccination into existing aged healthcare services can improve vaccine access. Some nations have integrated shingles immunization into normal healthcare visits for older folks, making the vaccine more accessible to individuals.

Governments can fund public awareness initiatives to inform the public about the dangers of shingles and the need for vaccination. The Australian Immunization Handbook advises shingles vaccine for some individuals, including those over 50. Immunocompromised people over the age of 18. People over 50 who reside in the same house as someone with a weaker immune system. Therefore, as governments continue to promote adult immunization, there is an opportunity for worldwide shingles vaccination coverage to grow and improve.

Regional Analysis

The global shingles vaccine market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America Dominates the Global Market

North America is the most significant global shingles vaccine market shareholder and is estimated to grow at a CAGR of 8.3% over the forecast period. Several factors contribute to this market dominance, including the strategic presence of significant industry competitors, favorable reimbursement rules, and a noteworthy vaccination acceptance rate. Notably, the United States has roughly 35% vaccine uptake, whereas Canada has more than 20% of its eligible population benefiting from the vaccine. The region's increased awareness and strong recommendation for shingles vaccine contribute significantly to the region's growth trajectory throughout the predicted period. Due to Shingrix's high efficacy, the United States and Canada favor it over Zostavax for shingles prevention.

Additionally, the high prevalence of chickenpox will increase the demand for shingles vaccines because the reactivation of the chickenpox virus causes shingles. For example, in September 2022, Mexican health officials reported 21,060 chickenpox 2022 infections (11,057 males and 10,003 women), a substantially larger figure than in 2021, when 8,897 infections were recorded, suggesting a 137% increase. The high prevalence of chickenpox raises the possibility of developing shingles. 

Asia-Pacific is anticipated to exhibit a CAGR of 8.6% over the forecast period. This increase is due to rising disposable incomes, improved healthcare policies, and a sizable population group at high risk of shingles. Furthermore, the region's lower- and middle-income countries with unmet medical needs will likely fuel market growth. Shingrix's acceptance in various Asian countries boosts the region's market growth.

Furthermore, this vaccine's fresh approvals and launches in numerous regions increase its worldwide availability. For example, Japan's MHLW accepted Shingrix's regulatory proposal to prevent shingles in at-risk persons aged 18 and older in June 2022. Similarly, GSK launched Shingrix in Singapore in January 2022 for shingles prevention nationwide. Thus, new activities by market participants, such as new approvals and launches, improve vaccination dissemination and are projected to drive the market over the projection period. 

In Europe, favorable government policies, improved vaccine accessibility, and shingles awareness are expected to be driving factors, according to shingles vaccine market insights. Europe, like many other regions, has a sizable elderly population. With age being a major risk factor for shingles, the region has a high prevalence of this ailment. Every year, around 1.7 million Europeans are infected with shingles. Herpes zoster affects approximately three persons per 1,000 in Europe each year. After age 50, the incidence rate increases significantly, with two-thirds of cases occurring in adults aged 50 and older.

In addition, to protect against shingles and related complications, the NHS in the United Kingdom offers a shingles vaccination program for people aged 70 to 79. In the European Union (EU), adults over 50 can get the shingles vaccine. The vaccine is also available in the European Economic Area (EEA) for patients aged 18 and up with elevated shingles risk. 

Report Scope

Report Metric Details
Segmentations
By Product
  1. Shingrix
  2. Zostavax
  3. SKYZoster
By Vaccine Type
  1. Recombinant Vaccine
  2. Live Attenuated Vaccine
Company Profiles GlaxoSmithKline Merck SK Chemicals Green Cross Corp Geneone Life Science Vaccitech CanSinoBIO
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global shingles vaccine market is segmented based on product, vaccine type, and region.

The market is further segmented by product into Shingrix, Zostavax, and SKYZoster.

Shingrix commands the largest share of the market. GlaxoSmithKline (GSK) developed Shingrix, a recombinant subunit vaccine, to prevent shingles (herpes zoster). It is intended to provide effective and long-lasting protection against the varicella-zoster virus, which causes chickenpox and shingles. Shingrix has a market share of more than 85% in 2022 because of the vaccine's strong efficiency and lack of major side effects. Furthermore, Shingrix is predicted to increase fastest during the projection period. The segment's expansion can be attributable to rising illness awareness and the approval of Shingrix vaccines in various locations. Shingrix, for example, was licensed by China's National Medical Products Administration in May 2019 to prevent shingles. Shingrix has been extensively recognized as a preferred shingles vaccine in many regions due to its superior efficacy over earlier vaccinations such as Zostavax.

SKYZoster is a brand of shingles vaccine created by SK Bioscience, a biopharmaceutical firm based in South Korea. It is a live varicella-zoster vaccine given as a single subcutaneous injection. SKYZoster is approved to prevent shingles (herpes zoster) and related consequences, including postherpetic neuralgia (PHN), in individuals 50 and older. It is not intended to be used to treat shingles. SKYZoster is predicted to increase at a considerable CAGR over the forecast period due to its recommendation in South Korea, cost-effectiveness compared to Zostavax, and inclusion in vaccination programs in select South Korean provinces. Shingrix's two-dose schedule may affect patient adherence, but it is considered a fair trade-off, considering its greater effectiveness. Furthermore, ongoing clinical trials of SKYZoster for approval and commercialization in other countries are expected to drive market growth in the coming years.

The market can be bifurcated by vaccine type into Recombinant Vaccine and Live Attenuated Vaccine.

Recombinant Vaccine holds the major market share. Recombinant shingles vaccines are generated by genetically modifying virus proteins to stimulate an immune response. These proteins are then employed in the formulation of the vaccine. The recombinant vaccine category accounted for more than 85% of the market in 2022, owing to the widespread use of Shingrix in North America and Europe and the recombinant vaccination's excellent efficacy in preventing disease in adults. The CDC reports that two doses of Shingrix are more than 90% effective in preventing shingles in individuals 50 and older.

The varicella-zoster virus is weakened in live attenuated shingles vaccinations. The virus has been engineered to be less virulent while eliciting an immunological response. The live attenuated vaccine segment is predicted to expand over the forecast period due to increased illness awareness and immunization acceptance in emerging nations. On the other hand, the limitation of live attenuated vaccinations in immune-compromised adults is detrimental to the market penetration of live attenuated vaccines. The approval of SK Bioscience's vaccine SKYZoster, on the other hand, is expected to drive the category over the projected period.

Market Size By Product

Market Size By Product
  • Shingrix
  • Zostavax
  • SKYZoster
  • Recent Developments

    • November 2023- GSK announced favorable results from the DREAMM-7 phase III study for Blenrep in relapsed/refractory multiple myeloma.
    • November 2023- Merck's V116, an investigational 21-valent Pneumococcal conjugated vaccine designed to protect adults, outperformed PCV20 in Immunogenicity for 10 of 11 Unique Serotypes in Adults 50 and older.

    Key Players

    Shingles Vaccine Market Share of Key Players

    Shingles Vaccine Market Share of Key Players
    GlaxoSmithKline Merck SK Chemicals Green Cross Corp Geneone Life Science Vaccitech CanSinoBIO Others

    Frequently Asked Questions (FAQs)

    How big is the shingles vaccine market?
    The global shingles vaccine market size was valued at USD 4.4 billion in 2022 and is projected to reach USD 9.1 billion by 2031, registering a CAGR of 8.5% during the forecast period (2023-2031).
    Asia Pacific region has the highest growth rate in the shingles vaccine market.
    Aging population is the major growth factor of the shingles vaccine market
    Shingrix segment is the leading segment for the market during forecast period.
    The key players in the global shingles vaccine market include GlaxoSmithKline, Merck, SK Chemicals, Green Cross Corp, Geneone Life Science, Vaccitech, CanSinoBIO.


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