The global shingles vaccine market size reached a substantial USD 4.9 billion in 2023 . Driven by rising awareness of shingles and the effectiveness of vaccines, this market is expected to witness a steady growth trajectory, exceeding an estimated value of USD 7.03 billion by 2032, reflecting a promising CAGR of 8.00%.
Shingles Vaccine Market Segmentation
The shingles vaccine market segmentation reflects the diverse range of vaccines available and target populations:
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By Vaccine Type:
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Recombinant Shingles Vaccines: These vaccines, like Shingrix, are made using a weakened, non-infectious form of the varicella-zoster virus. They offer superior protection compared to live attenuated vaccines. This segment holds the largest market share due to its high efficacy and safety profile.
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Live Attenuated Shingles Vaccines: These vaccines, like Zostavax, use a weakened live virus. While effective, they have a lower efficacy rate than recombinant vaccines and are not recommended for certain individuals with compromised immune systems.
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By Target Population: The market focuses on adults aged 50 and above, as the risk of shingles increases significantly with age. However, there is growing interest in developing shingles vaccines for younger populations, particularly those with weakened immune systems.
Top Players
Several established pharmaceutical companies compete for the top spots in the shingles vaccine market:
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Merck & Co., Inc. (USA): Merck is a frontrunner with Shingrix, a highly effective recombinant shingles vaccine.
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GlaxoSmithKline plc (UK): GSK offers Zostavax, the first live attenuated shingles vaccine, still holding a significant market share.
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Sanofi S.A. (France): Sanofi is developing a new shingles vaccine candidate, aiming to further diversify the market options.
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CanSino Biologics Inc. (China): CanSino is a Chinese biopharmaceutical company developing a recombinant shingles vaccine for the growing Asian market.
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Inovio Pharmaceuticals, Inc. (USA): Inovio is exploring a DNA-based shingles vaccine, a novel approach with potential for long-lasting protection.
Market Trends
Several trends are shaping the future of the shingles vaccine market:
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Focus on High-Efficacy Vaccines: The market is expected to see a continued preference for high-efficacy recombinant vaccines like Shingrix, offering superior protection against shingles.
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Combination Vaccines: Development of combination vaccines that protect against both shingles and other age-related diseases like pneumonia is a potential future trend.
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Focus on Accessibility and Affordability: Efforts to increase vaccine accessibility and affordability, particularly in developing countries, will be crucial for expanding market reach.
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Shorter Vaccination Schedules: Research into single-dose shingles vaccines or vaccines with shorter dosing schedules is underway, potentially improving patient adherence and vaccination rates.
Future Outlook
The shingles vaccine market future outlook is expected to reach USD 7.03 billion by 2032, paints a promising picture of a market driven by innovation, increased awareness, and a growing emphasis on preventive healthcare.
Here are some key projections to illuminate the future:
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Emerging Markets Hold Potential: Developing countries with increasing healthcare budgets and aging populations are expected to witness significant growth in the shingles vaccine market. This presents an opportunity for pharmaceutical companies to develop and offer affordable vaccination programs in these regions.
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Focus on Adjuvants: Adjuvants are ingredients added to vaccines to enhance the immune response. Research into new and improved adjuvants can lead to more potent shingles vaccines with longer-lasting protection.
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Role of Shingrix Boosters: The optimal dosing schedule for Shingrix is still under investigation. Studies are underway to determine the effectiveness of booster shots to ensure long-term protection against shingles.
Conclusion
The shingles vaccine market plays a crucial role in preventing a painful and debilitating condition. By understanding the shingles vaccine market size, segmentation, top players, key trends, and future outlook, stakeholders can contribute to the development of more accessible, affordable, and effective shingles vaccines. As the market embraces innovation, increased awareness campaigns, and a focus on preventive healthcare, we can look forward to a future where fewer people experience the burden of shingles.
You can also read about: The Global Vaccine Market Trends, Segmentation and Outlook to 2030
