LONDON--(BUSINESS WIRE)--The global shingles vaccine market is poised to grow by USD 1.08 billion during 2020-2024, progressing at a CAGR of over 7% during the forecast period. Request free sample pages
Read the 120-page report with TOC on "Shingles Vaccine Market Analysis Report by Type (Recombinant vaccines and Live-attenuated vaccines), Geography (North America, Europe, Asia, and ROW), and the Segment Forecasts, 2020-2024".
The market is driven by the approval of shingles vaccines and favorable reimbursement policies. In addition, the high incidence and prevalence of shingles is anticipated to boost the growth of the shingles vaccine market.
The growing prevalence of shingles is compelling market players to focus on the development of new vaccines. This is resulting in the approval of many vaccines. For instance, in March 2018, the European Commission approved GSK’s SHINGRIX vaccine for the prevention of shingles and post-herpetic neuralgia in adults aged 50 years and above. Similarly, in August 2019, SHINGRIX was approved by the National Medical Products Administration for the prevention of shingles in adults aged over 50 years in China. Moreover, several healthcare providers are including shingles vaccines under their reimbursement policies due to the expanding patient pool for shingles. For instance, in 2018, SHINGRIX was covered for more than 95% of the commercial medical enrolments and 100% of Medicare Part D enrolments in the US. The presence of such favorable reimbursement policies will further support the growth of the global shingles vaccine market.
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Major Five Shingles Vaccine Market Companies:
CanSino Biologics Inc.
CanSino Biologics Inc. operates its business through a unified business segment. CSB016 is the key offering of the company. It is a pre-clinical vaccine molecule developed for the prevention of shingles.
Curevo Inc. operates its business through the Technology segment. CRV-101 is the key offering of the company. It is a highly effective shingles vaccine that reduces various complications associated with shingles and also has the potential to prevent postherpetic neuralgia.
GeneOne Life Science Inc.
GeneOne Life Science Inc. operates its business through the Products segment. GLS-5100 is the key offering of the company. It is a pre-clinical DNA vaccine molecule developed for the prevention of shingles.
GlaxoSmithKline Plc operates its business through segments such as Pharmaceuticals, Consumer healthcare, and Vaccines. SHINGRIX is the key offering of the company. It is an adjuvanted recombinant zoster vaccine for the prevention of herpes zoster (shingles) in adults aged 50 years and older.
Merck & Co. Inc.
Merck & Co. Inc. operates its business through segments such as Pharmaceuticals, Animal health, and Others. ZOSTAVAX is the key offering of the company. It is a live-attenuated virus vaccine dedicated to the prevention of herpes zoster (shingles).
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Shingles Vaccine Market Type Outlook (Revenue, USD Billion, 2020-2024)
- Recombinant vaccines
- Live-attenuated vaccines
Shingles Vaccine Market Regional Outlook (Revenue, USD Billion, 2020-2024)
- North America
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