Shingles Vaccine Market is anticipated to grow at a CAGR of ~17.9% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Shingles Vaccine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the global shingles vaccine market was estimated to be US$ 2,495.0 million by 2025. It is anticipated to grow at a CAGR of ~17.9% from 2020 to 2030.
Shingles is an infectious disease which is caused by the reactivation of the chickenpox virus or herpes zoster. The common symptoms associated with this infection are development of rashes, ulcers blister and redness on the skin; exhaustion, and itching among others. Vaccines available for the treatment of shingles are Zostavax, Shingrix & SkyZoster, which are manufactured by Merck & Co., Inc., GlaxoSmithKline plc & SK chemicals respectively.
Shingles is a Vaccines are biological products which are used to prevent the occurrence of a large number of diseases. Vaccines protect against more than 25 debilitating or life-threatening diseases, including measles, polio, tetanus, diphtheria, meningitis, influenza, tetanus, typhoid and cervical cancer. Vaccines constitutes of a strain of disease-causing microorganism which is present in the form of killed or weakened state. Vaccines can be classified on the basis of strain or serotype i.e. monovalent vaccines and multivalent vaccines. Vaccines may be monovalent or multivalent. A monovalent vaccine contains a single strain of a single antigen (e.g. Measles vaccine), whereas a multivalent vaccine contains two or more strains/serotypes of the same antigen (e.g. OPV).
The growing adoption of shingles vaccine can be attributed to greater level of protection offered by these vaccines as compared to other modes of treatment. Moreover, in the U.S., recommendation of shingles vaccine by federal health officials for individuals above the age of 50, has been crucial in incrementing its demand in the region.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Shingles Vaccine Market By Product (Shingrix, and Zostavax), Patient Type (Pediatric Patients & Adult Patients) and Region (North America, Europe, Asia Pacific, and the Rest of the World (RoW)) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/shingles-vaccine-market/125
The sales growth of Shingrix vaccine has been especially notable since the time of its launch. Zostavax, manufactured by Merck was the first approved vaccine to treat shingles, but the launch of Shingrix vaccine by GSK in October 2017, gained immense popularity. Shingrix, owing to its recombinant nature can be administered among a wide range of population, unlike the Zostavax. Moreover, admiration of Shingrix vaccine exhibited an effectiveness of approximately 90%.
North America accounted for the largest market share in the global shingles vaccine market in 2019. The large share of this region can be attributed to several factors such as availability of advanced healthcare facilities, presence of major players in this region, supportive government regulations, and convenience of systematic & favorable health insurance, among others.
The prominent players in the global shingles vaccine market are GlaxoSmithKline plc., and Merck & Co., Inc.. and SK Chemicals
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