Pune, 25, Nov 2022: The Global Shingles Vaccine Market report, was published by Maximize Market Research, a leading Healthcare consultancy firm stated that the Shingles Vaccine Market was valued at USD 2.79 Billion in 2021, and it is expected to reach USD 6.02 Billion by 2029, exhibiting a CAGR of 10.1 % during the forecast period (2022-2029). The research gives insight into industry trends, key sectors, and potential investments in various areas, demand and supply networks, regional contexts, and competitive conditions. The research is extremely beneficial to important market participants, new entrants, investors, and stakeholders who are developing plans and striving to improve the reputation of their businesses.
Shingles Vaccine Market Scope and Research Methodology
The shingles vaccine market report is a critical analysis of current trends and future market dynamics in the Shingles Vaccine Market Industry, which aids customers in discovering business opportunities and developing market strategies. The shingles vaccine market research report includes product type, unique selling proposition, development trend, industrial engineering, key competitors, industrial chain structure, industry overview, industry national policy, planning analysis, and the most current dynamic analysis. The analysis focused on the overall market drivers, opportunities, challenges, and constraints. The report also explores the effect of these main drivers, trends, and limitations on market demand throughout the forecast period. Production time, base distribution, technical qualities, research and development trends, technological sources, and raw material sources are all investigated by the leading shingles vaccine market companies.
The more in-depth research analysis includes the major customer and market application sectors, important regions and consumption, key manufacturers, distributors, suppliers of raw materials, and equipment vendors, as well as contact information and an industry chain relationship analysis. Additionally, this study includes product specifications, production methods, cost structure, and data information categorized by location, technology, and application. The goods and services provided by key enterprises, revenue, and economic position in the global market, investment plan, growth strategy, and regional presence are all examined. Recent acquisitions and mergers, as well as company strategic orientations and information on cooperative alliances, paint a realistic picture of the competitive environment in the Shingles Vaccine Market.
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For market estimation and forecasting, the bottom-up strategy is applied. Data was collected from a large sample using both primary and secondary research approaches to validate the findings. Secondary data was gathered from a number of sources to guarantee consistency in the results. Official databases from various organizations and government websites, industry periodicals, newspapers, huge business annual reports, manufacturer and supplier publications, and paid databases are examples of this. Surveys, questionnaire administration, and phone interviews with industry experts, market leaders, entrepreneurs, and marketing professionals are used to obtain primary data. SWOT analysis was used to assess significant organizations’ strengths and weaknesses, while PORTER and PESTLE were employed to investigate various economic problems. Finally, the research provides a complete Shingles Vaccine market analysis.
Shingles Vaccine Market Overview
A shingle is a painful rash that usually occurs on one side of the body, usually the face or the chest. The only way to avoid shingles and postherpetic neuralgia (PHN), the most common shingles complication, is to get a shingles vaccination. Shingrix (recombinant zoster vaccine) is given to adults over the age of 50 in two doses to prevent shingles and associated complications. Adults 19 and older with weakened immune systems as a result of disease or therapy should also take two doses of Shingrix since they are at a higher risk of acquiring shingles and other complications.
Shingles Vaccine Market Dynamics
The growing incidence and prevalence of shingles are driving the shingles vaccine market. The increasing senior population, as well as the increased approval and release of enhanced shingles vaccines, have all contributed to the growth of the Shingles Vaccine Market. For example, the European Commission approved GSK’s Shingrix vaccine in 2018, and the national medical administration approved Shingrix for adult shingles prevention in August 2019. The growing number of herpes zoster people affected is expected to increase vaccine usage in the coming years. Herpes zoster is estimated to affect 3 to 5 persons per 1,000 people each year, with the frequency increasing with age. According to a German study, the yearly incidence of zoster is expected to be 5.79 cases per 1,000 persons. The high risk of herpes zoster should increase the use of shingles vaccines.
One key factor driving the worldwide market’s overall growth is the increasing number of official recommendations to utilize these immunizations. Additionally, an increasing number of older citizens is expected to drive an expanding business. Many companies have invested heavily in research and development to produce new shingles vaccines. This increases the number of new products approved by the FDA. However, the dangers associated with the vaccine’s adverse effects are relatively significant. Additionally, there is a lack of awareness regarding the availability and use of these commodities in developing countries. The expansion of the Shingles Vaccine Market would probably be hampered in the next years.
Shingles Vaccine Market Segmentation
By Drug Type
- Zostavax
- Shingrix
- Others
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Others
By Vaccine Type
- Recombinant Vaccine
- Live Attenuated Vaccine
Shingles Vaccine Market Regional Insights
North America is expected to lead the market with 80% of the revenue throughout the forecast period. The existence of large companies in North America, appealing reimbursement policies, and high vaccine uptake are key drivers driving the regional market. Vaccine uptake in the United States is around 35%, whereas in Canada it reaches 20% of the eligible population. Additionally, rising public awareness and recommendations for disease vaccination in the region are supporting market growth throughout the forecast period. Shingrix is chosen over Zostavax in the United States and Canada for shingles prevention in the senior population because of its high efficacy.
Shingles Vaccine Market Key Competitors:
- GlaxoSmithKline plc.
- Merck & Co., Inc.
- SK chemicals
- Green Cross Corp
- CanSinoBIO
- Geneone Life Science
- Vaccitech
- Pfizer
- Sanofi
- CSL Behring
- Curevo Inc.
- GeneOne Life Science Inc.
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Key questions answered in the Shingles Vaccine Market are:
- What is Shingles Vaccine Market?
- What is the growth rate of the Shingles Vaccine Market during the forecast period?
- What is the nature of competition in the Shingles Vaccine Market industry in developed economies and developing economies?
- Who are the key players in Shingles Vaccine Market?
- Who are the market leaders in Shingles Vaccine Market in Europe?
- Who are the market leaders in Shingles Vaccine Market in USA and Canada?
- Who are the market leaders in Shingles Vaccine Market in India, China, Japan, and South Korea?
- What are the factors affecting growth in Shingles Vaccine Market?
- Who held the largest market share in Shingles Vaccine Market?
- What are the factors for the growth of the Asia-Pacific region in the Shingles Vaccine Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Drug Type, Distribution Channel, Vaccine Type, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading Healthcare research firm, has also published the following reports:
Mumps Vaccine Market: Mumps Vaccine Market was valued at US$ 584 Mn. in 2021. The global Mumps Vaccine Market size is expected to grow at a CAGR of 9.4% through the forecast period. The market is expected to rise significantly due to increased investment by pharmaceutical companies in R&D efforts, as well as an increase in the number of hospitals and healthcare facilities. Moreover, rising funding and campaigning by non-government organizations are expected to increase Mumps Vaccine’s popularity, which will drive demand.
Veterinary Vaccines Market: Veterinary Vaccines Market was valued at US$ 10.86 Bn. in 2021, and it is expected to reach US$ 17.56 Bn. by 2029, exhibiting a CAGR of 7.11% during the forecast period 2022-2029. The growing number of zoonotic illnesses that might harm humans will probably increase the demand for animal vaccinations.
Vaccine Refrigerators Market: Vaccine Refrigerators Market size is expected to grow at a CAGR of 5.8% during the forecast period and the market size is expected to reach nearly US$ 347.56 Bn. by 2029. An upsurge in funding by government organizations and wide R&D activities by pharmaceutical companies for new vaccine development are propelling the global vaccine refrigerators market.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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