Shingles Vaccine Market Size, Share & Trends Analysis Report By Product (Shingrix, Zostavax, SkyZoster), By Vaccine Type (Recombinant Vaccine, Live Attenuated Vaccine), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global shingles vaccine market size was valued at 2.99 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.9% from 2021 to 2028. The increased risk of developing shingles, especially in adults aged 60 and above, and improvement in healthcare policies in developed countries are factors expected to fuel the market growth. According to the CDC estimates, around one out of three individuals in the U.S. will develop shingles in their lifetime. Vaccination is recommended in major countries such as the U.S. Canada, the U.K., Italy, Germany, Australia, New Zealand, and South Korea. In March 2021, the CDC released guidelines related to shingles vaccination during the COVID-19 pandemic and designated it as an essential preventive care service.

The shift towards novel recombinant vaccines, coupled with their high prices, is anticipated to propel market growth over the forecast period. Moreover, the U.S. Advisory Committee on Immunization Practices has recommended vaccination against shingles in adults aged 60 and above since 2006. Whereas, in January 2018, the CDC recommended Shingrix over Zostavax to prevent Shingles owing to the high efficacy of the vaccine. Similarly, Canada, Australia, and some European countries also recommend vaccination to reduce the disease burden.

The increasing cases of herpes zoster worldwide are expected to increase vaccine uptake in the coming years. The incidence of herpes zoster is estimated from 3 to 5 per 1,000 individuals per year and it increases with age. According to a study conducted in Germany, the estimated annual incidence of zoster is 5.79 cases per 1,000 population. The high risk of herpes zoster is expected to increase the adoption of shingles vaccines.

Moreover, the inclusion of shingles vaccines in national immunization programs of several countries is anticipated to boost market growth. For instance, in Australia, vaccination against shingles is funded under the National Immunization Program for adults aged 70 to 79 years, because people in this age group have a higher risk of developing herpes zoster and are expected to benefit the most from vaccination. Similarly, other countries such as the U.S., the U.K., and Italy have included shingles vaccination in their national immunization program to reduce the disease burden.

The medical cost burden of herpes zoster is increasing every year with the rising incidence of disease globally. The current treatments can only shorten the duration and lessen symptoms. To reduce the treatment cost burden of the healthcare system and the incidence of shingles, government regulatory bodies recommend vaccination against the disease.

Moreover, the cost-effectiveness of vaccines against herpes zoster compared to the treatment of shingles is anticipated to drive the uptake of vaccines globally. The cost of vaccination for one eligible adult ranges between USD 150 to USD 300 in the U.S. According to an estimate published in ResearchGate GmbH, the total annual medical care cost burden of Herpes zoster in the U.S. was over USD 1 billion.

Product Insights

Shingrix held the largest share of more than 90.0% in 2020 owing to the high efficacy of the vaccine with no serious events associated with it. Moreover, Shingrix is expected to grow at the highest rate over the forecast period. The growth of the segment can be attributed to the increasing awareness regarding the disease and approval of Shingrix vaccines in various regions. For instance, China's National Medical Products Administration has approved Shingrix in May 2019 to prevent shingles.

SKYZoster is expected to grow at a significant CAGR over the forecast period owing to the recommendation of SKYZoster in South Korea, cost-effectiveness compared to Zostavax, and inclusion in immunization programs of some provinces in South Korea. Furthermore, ongoing clinical trials of SKYZoster for approval and commercialization overseas are anticipated to propel the market growth over the forecast years.

Vaccine Type Insights

The recombinant vaccine segment held the largest share of over 90.0% in 2020 owing to the high adoption of Shingrix in North America and the European region and the high efficacy of the recombinant vaccine to prevent disease in the adult population. According to the CDC, two doses of Shingrix are more than 90% effective at preventing shingles in adults of age 50 and older.

The live attenuated vaccine segment is expected to grow over the forecast period owing to the rising awareness regarding the disease and increasing adoption of vaccination in developing countries. However, the limitation of live attenuated vaccines in immune-compromised adults is negatively impacting the market uptake of live attenuated vaccines. However, the approval of SK Bioscience’s vaccine SKYZoster is anticipated to drive the segment over the forecast period.

Regional Insights

North America grabbed the largest share of over 80.0% in 2020. The presence of major players in North America, favorable reimbursement policies, and high vaccine uptake are major factors driving the regional market. Vaccine uptake in the U.S. is around 35% and is more than 20% of the eligible population in Canada. Moreover, high awareness level among people and recommendation of vaccination against the disease in the region are some factors responsible for the market growth over the forecast period. The U.S. and Canada recommend Shingrix over Zostavax to prevent shingles in the aged population due to the high efficacy of Shingrix.

Asia Pacific is expected to expand at the fastest growth rate over the forecast period due to the increasing disposable income in the region, improvement in the healthcare policies, and a large population base having a high risk of developing the disease. Moreover, the highly unmet medical needs in low- and middle-income countries in the Asia Pacific are expected to propel the market growth during the forecast period. Moreover, approval of Shingrix in several Asian countries is anticipated to fuel the market growth.

Key Companies & Market Share Insights

Key players are adopting strategies such as product enhancements and regional expansion to attain a greater market share. For instance, in July 2021, GlaxoSmithKline plc. received FDA approval for Shingrix vaccines in adults aged 18 years and older. The vaccine is approved for adults who are or will be at increased risk for immunosuppression and immunodeficiency. Some prominent players in the global shingles vaccine market include:

• GlaxoSmithKline plc.

• Merck & Co., Inc.

• SK chemicals

• Green Cross Corp

• Geneone Life Science

• Vaccitech

• CanSinoBIO

Shingles Vaccine Market Report Scope 

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global shingles vaccine market report on the basis of product, vaccine type, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2028)

  • Shingrix

  • Zostavax

  • SKYZoster

• Vaccine Type Outlook (Revenue, USD Million, 2017 - 2028)

  • Recombinant Vaccine

  • Live Attenuated Vaccine

• Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa