- Home
- Life Sciences
- Shingles Vaccines
Shingles Vaccines Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.
-
Published date -30th Jan 2024
-
Formats -PDF, CSV
-
Region -Global
Shingles Vaccines Market Size & CAGR
The Shingles Vaccines market is projected to reach a market size of USD 3.5 billion by 2023, with a Compound Annual Growth Rate (CAGR) of 7.5% from 2023 to 2030.
COVID-19 Impact on the Shingles Vaccines Market
The COVID-19 pandemic has had a significant impact on the Shingles Vaccines market, disrupting supply chains and manufacturing processes. However, the increased focus on healthcare and vaccination programs has also led to a surge in demand for shingles vaccines.
Shingles Vaccines Market Dynamics
Key Market Drivers:
- Rising prevalence of shingles infections
- Increasing awareness about vaccination benefits
- Government initiatives to promote vaccination programs
Key Market Restraints:
- High cost of shingles vaccines
- Limited availability in certain regions
- Patient hesitancy towards vaccinations
Segments and Related Analysis of the Shingles Vaccines Market
The Shingles Vaccines market is segmented based on vaccine type, distribution channel, and region. The market analysis reveals that the live attenuated vaccine segment holds the largest market share due to its effectiveness in preventing shingles infections.
Shingles Vaccines Market Analysis Report by Region
Asia Pacific Shingles Vaccines Market Report
The Asia Pacific region is witnessing significant growth in the shingles vaccines market due to the increasing geriatric population and rising healthcare infrastructure investments.
South America Shingles Vaccines Market Report
The South America region is experiencing a gradual uptake of shingles vaccines, driven by awareness campaigns and government support for vaccination programs.
North America Shingles Vaccines Market Report
North America leads the global shingles vaccines market, with high vaccination rates and advanced healthcare facilities contributing to market growth.
Europe Shingles Vaccines Market Report
Europe exhibits steady growth in the shingles vaccines market, fueled by favorable reimbursement policies and the presence of key market players.
Middle East and Africa Shingles Vaccines Market Report
The Middle East and Africa region are witnessing increasing demand for shingles vaccines due to improving healthcare access and awareness about preventive healthcare measures.
Shingles Vaccines Market Analysis Report by Technology
The shingles vaccines market analysis by technology reveals the use of adjuvanted vaccines and recombinant vaccines as the leading technological advancements in vaccine formulations.
Shingles Vaccines Market Analysis Report by Product
The shingles vaccines market analysis by product categories includes Zostavax, Shingrix, and other shingles vaccine brands that cater to different patient populations and age groups.
Shingles Vaccines Market Analysis Report by Application
The shingles vaccines market analysis by application highlights the use of shingles vaccines in clinical settings, community vaccination programs, and preventive healthcare initiatives.
Shingles Vaccines Market Analysis Report by End-User
The shingles vaccines market analysis by end-users includes hospitals, clinics, pharmacies, and other healthcare facilities that administer shingles vaccines to patients.
Key Growth Drivers and Key Market Players of Shingles Vaccines Market
The key growth drivers for the shingles vaccines market include increasing aging population, growing awareness about preventive healthcare, and rising incidence of shingles infections. Key market players in the shingles vaccines market include:
- Merck & Co., Inc.
- GlaxoSmithKline plc
- Pfizer Inc.
- Bavarian Nordic
- Sanofi Pasteur
- CSL Limited
Shingles Vaccines Market Trends and Future Forecast
The shingles vaccines market is witnessing trends such as the development of novel adjuvanted vaccines, increasing investments in vaccine research, and collaborations between pharmaceutical companies to expand vaccine access globally. The future forecast indicates sustained market growth and expansion into emerging markets.
Recent Happenings in the Shingles Vaccines Market
Recent developments in the shingles vaccines market include the launch of new vaccine formulations, regulatory approvals for expanded vaccine indications, and partnerships between healthcare organizations to promote vaccination campaigns.
Related Industries
Shingles Vaccines Market FAQs
1. What is the market size of the Shingles Vaccines?
The global shingles vaccine market size was estimated to be around $2.5 billion in 2020. It is expected to grow at a CAGR of 12.5% from 2021 to 2028, reaching a value of approximately $6.1 billion by the end of the forecast period.
2. What are the key market players or companies in the Shingles Vaccines industry?
Some of the key players in the shingles vaccines market include Merck & Co., Inc., GlaxoSmithKline plc, Bayer AG, Pfizer Inc., and Sanofi. These companies are leading the market with their innovative vaccines and strong market presence.
3. What are the primary factors driving the growth in the Shingles Vaccines industry?
The primary factors driving the growth in the shingles vaccines industry include an increase in the aging population, rising prevalence of shingles infections, growing awareness about vaccination, and advancements in vaccine technology. Moreover, government initiatives promoting vaccination programs also contribute to the market growth.
4. Which region is identified as the fastest-growing in the Shingles Vaccines?
North America is identified as the fastest-growing region in the shingles vaccines market, primarily due to the high prevalence of shingles infections, advanced healthcare infrastructure, and increasing adoption of vaccination. The region is witnessing significant growth in vaccine development and distribution, driving market expansion.
5. Does ConsaInsights provide customized market report data for the Shingles Vaccines industry?
Yes, ConsaInsights offers customized market report data for the shingles vaccines industry. Our reports are tailored to meet the specific requirements of clients, providing detailed insights, analysis, and forecasts to help them make informed business decisions in the dynamic market environment.
6. What deliverables can I expect from this Shingles Vaccines market research report?
Our shingles vaccines market research report delivers comprehensive analysis of market trends, drivers, challenges, competitive landscape, key player profiles, market size and forecast, regional analysis, and strategic recommendations. Additionally, you can expect detailed insights on market dynamics, regulatory landscape, and future market opportunities within the shingles vaccines industry.