The Global Shingles Vaccine Market Continues To Grow Owing To the Different Initiatives Taken By Governmental Bodies All Over the Globe and New Product Launches by Key Players

 

Shingles is a type of skin infection that is mainly caused by the reactivation of herpes zoster or chickenpox virus. Two vaccines till now have proven successful at reducing the chances of developing shingles. One is, Zostavax, which consists of a bigger-than-usual dose of the chickenpox vaccine since shingles and chickenpox are caused by the same virus, the varicella virus. The other vaccine is called Shinglesvax, consists of an adult shingles vaccine which has been proven to be effective in preventing younger children and adults from developing shingles. If someone develops shingles after receiving either of these, they need a varicella immune globulin vaccine. The shingles vaccine is made from a weakened chickenpox virus and when used in combination with symptoms specific to shingles, it greatly reduces the risks of developing the infection. However, there is a possibility of developing more serious side effects such as a rash or muscle pain. Rare side effects include feeling faint, nausea, blurred vision, and chest pain.

Market Dynamics                                  

The factor driving the growth of the shingles vaccine market is the increased prevalence of shingles worldwide. Moreover, the rising geriatric population and the high number of launches and approval of shingle vaccines are also estimated to trigger the market growth. For instance, in August 2019, experts from the Université Laval, Québec, and Centre de research du Centre Hospitalier de l'Université de Québec found that the Shingrix vaccine developed by GSK is very effective in terms of cost and treatment than the Zostavax developed by Merck & Co. The overall effectiveness of the vaccine was 97% and has a higher effectiveness rate among the geriatric population. Shingrix right now is the main competitor of Zostavax in the market. The growing rate of government initiatives and an increase in healthcare concerns are also driving the growth of the shingles vaccine market. However, the high cost of the shingle vaccines is acting as the main restraining factor hindering the growth of the market, especially in developing nations.

This market is distributed in five regions that include North America, Europe, Asia-Pacific, Middle East, and Africa, and Latin America. Among these, North America and Europe are estimated to hold a bigger share of the shingles vaccine market collectively. The market growth in North America is mainly driven by the increased demand for the vaccine in the U.S., while the European market is estimated to be driven by the growing demand of the European Union for therapeutic treatments.

The shingles vaccine market in the Asia Pacific is estimated to witness significant growth owing to the vast pharmaceutical market present in the region. Active marketing and differential pricing in regions such as India and China would aid the companies to strengthen the shingle vaccine market in the Asia Pacific.

Competitive Analysis

Major players operating in the shingles vaccine market include Curevo Inc., CanSino Biologics Inc., GlaxoSmithKline Plc, SK Bioscience, Vaccitech, Merck and Co. Inc., Inovio Pharmaceuticals, Inc, Sanofi, and Precision Vax LLC.

In May 2019, the National Medical Products Administration (NMPA) of China approved the Shingrix vaccine produced by GSK to prevent shingles in adults.