Shingles Vaccine Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Shingrix, Sheath, SKYZoster, Others), By Vaccine Type (Recombinant Vaccine, Live Attenuated Vaccine), and Region Forecast 2019-2030

Shingles Vaccine Market size was valued at US$ 3.6 billion in 2023 and is expected to reach US$ 14.1 billion by 2030, at a significant CAGR of 13.8% from 2024-2030. Shingles is known as Herpes Zoster which causes a blistering painful rash on the skin which lasts from 2 to 4 weeks. But, for some people, the pain may last for months or years. This pain is called as (PHN) Post Herpetic Neuralgia, which is a common complication of shingles and its occurrence increases with age. There are safe and effective vaccines available for prevention of shingles. In 2006, Merck & Co., Inc. licensed Zostavax for the prevention of shingles which is intended for people above 50 years of age. In 2016, GSK received FDA approval for its Shingrix, a vaccine to prevent shingles which has 90% efficiency in people than Zostavax. GSK filed regulatory approvals in Europe, Canada, and Japan for Shingrix. Shingles Vaccine Market is a very highly consolidated market with very few market players. It is experiencing rapid growth due to the new products and it may gain swift in market growth due to the new entrants into the market during the forecast period.

One key aspect contributing to the global market's overall growth is the increasing number of official recommendations to use these vaccinations. Furthermore, the growing number of senior individuals is predicted to fuel an ever-expanding industry. Many firms have spent a significant amount of money on research and development in order to create new shingles vaccines. This also contributes to a rise in the number of new product approvals by the FDA. The dangers linked with the vaccine's side effects, on the other hand, are extremely substantial. Furthermore, in the poor countries, there is a lack of understanding about supply and use of these products. In the years ahead, it is possible to pose a threat to the Shingles Vaccine Market's growth.