Global Shingles Vaccine Market Analysis & Forecast to 2024-2034

The global shingles vaccine market size was estimated to be USD 3.43 billion in 2023 and is expected to reach at USD 9.75 billion by 2034 with a CAGR of 9.96% during the forecast period 2024-2034. The elevated susceptibility to shingles, particularly among individuals aged 60 and above, the advancing enhancements in healthcare policies, a noticeable transition towards innovative recombinant vaccines, a rising incidence of herpes zoster cases, the inclusion of shingles vaccines in the national immunization initiatives of various countries, the cost-effectiveness of vaccines compared to treatments, an uptick in the prevalence of shingles diseases, increase in the introduction of new vaccines by market players, and a surge in new shingles vaccine approvals by regulatory authorities, and an are some of the key factors boosting the market growth.

A surge in new shingles vaccine approvals by regulatory authorities is predicted to boost the market growth during the forecast period. As the instances of shingles diseases increase, these approvals facilitate the administration of vaccinations in diverse regions. For instance, in January 2023, The National Pharmaceutical Regulatory Agency (NPRA) in Malaysia granted approval for the biologics license application of 'SKYZoster' from SK bioscience.

By product, shingrix was the highest revenue-grossing segment in the global shingles vaccine market in 2023 owing to the vaccine exhibits high efficacy, rise in awareness about the disease, and an increasing introduction of Shingrix vaccines. For instance, in January 2022, In Singapore, GlaxoSmithKline (GSK) has introduced a new vaccine, Shingrix, aimed at providing protection against shingles. Notably, it is the initial shingles vaccine authorized for individuals at higher risk of the disease due to immunodeficiency or immunosuppression resulting from known illnesses or treatments. Additionally, SKYZoster is predicted to grow at the fastest CAGR during the forecast period owing to the increasing endorsement of SKYZoster, its cost-effectiveness relative to Zostavax, its incorporation into the immunization programs of certain provinces, and the ongoing clinical trials of SKYZoster for approval and subsequent commercialization in international markets.

By vaccine type, recombinant vaccine was the highest revenue-grossing segment in the global shingles vaccine market in 2023 owing to the widespread adoption of Shingrix, the notable effectiveness of the recombinant vaccine in averting disease among adults, and an increasing emphasis on creating innovative vaccines. For instance, in February 2023, Jiangsu Recbio Technology Co., Ltd has successfully concluded the initial round of subject enrollment for its adjuvanted recombinant shingles vaccine, REC610. Additionally, live attenuated vaccine is predicted to grow at the fastest CAGR during the forecast period owing to the growing awareness of the disease, a rising trend in vaccine adoption, and an increase in the approval of innovative vaccines.

By end-user, hospitals was the highest revenue-grossing segment in the global shingles vaccine market in 2023 owing to the increasing incidence of shingles diseases, a rise in the elderly population, and the presence of new vaccines on healthcare platforms. For instance, in October 2023, The Ministry of Health and Prevention has declared the availability of the herpes zoster vaccine, a certified preventive vaccine for shingles, at health facilities catering to individuals aged 50 and above. Additionally, specialty clinics is predicted to grow at the fastest CAGR during the forecast period owing to the An increase in the number of patients experiencing herpes zoster, coupled with the cost-effectiveness of vaccines compared to treatments in these specialized clinics.

North America region is anticipated for the highest revenue share during the forecast period owing to the increase in favorable reimbursement policies, widespread acceptance of vaccines, elevated awareness levels among patients about the significance of these vaccines, a high incidence of chickenpox, expanding recommendations for vaccination against the disease, a rising elderly population, and heightened collaboration among key market participants. For instance, in February 2023, Pfizer Inc and BioNTech SE have commenced a phase 1/2 clinical trial to investigate the safety, tolerability, and immunogenicity of their mRNA vaccine candidates targeting shingles (herpes zoster or HZ), an incapacitating illness induced by the varicella-zoster virus (VZV). Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rise in disposable income, enhancements in healthcare policies, a sizable population with a heightened risk of contracting the disease, and the increasing endorsement of Shingrix. For instance, in June 2022, GSK plc reported that the Japanese Ministry of Health, Labour and Welfare (MHLW) has granted approval for a revised indication for Shingrix (Recombinant Zoster Vaccine, Adjuvanted - RZV). The updated indication now includes the prevention of shingles (herpes zoster) in adults aged 18 years and older who are at an elevated risk of the condition.

Segmentation: Shingles Vaccine Market Report 2023 - 2034

Shingles Vaccine Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)

• Zostavax
• SKYZoster
• Shingrix

Shingles Vaccine Market Analysis & Forecast by Vaccine Type 2023 - 2034 (Revenue USD Bn)

• Live Attenuated Vaccine
• Recombinant Vaccine

Shingles Vaccine Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)

• Specialty Clinics
• Hospitals
• Others

Shingles Vaccine Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of LATAM
• Middle East & Africa
• South Africa
• GCC
• Rest of MEA