Newark, July 29, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 4.2 billion zoster vaccine market will reach USD 9.1 billion by 2033. The zoster vaccine market is driven by people's increasing understanding of how important vaccination is to preventing shingles. The global ageing population also fuels the market's expansion because shingles are more common in elderly persons. As an example, seroprevalence research conducted on Indian volunteers revealed that by the time they were 40 years old, over 90% of the participants carried this virus, making them susceptible to shingles. For individuals over 50, the Shingrix vaccination has been authorised to prevent both shingles and post-herpetic neuralgia. In addition, new and more potent vaccines and technological developments in vaccinations are anticipated to spur market expansion. Based on these indications, the market for zoster vaccines is expected to rise steadily over the next several years.
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Key Insight of the Global Zoster Vaccine Market
North America will account for the largest market size during the forecast period.
The region's market is mostly driven by large players in North America, advantageous reimbursement practices, and high vaccination rates. In the United States, about 35% of eligible individuals have received vaccinations, whereas in Canada, over 20% do so. Additionally, public awareness and the region's recommendation for immunisation against the disease drive the market's growth over the projection period. Because of Shingrix's superior efficacy over Zostavax, the United States and Canada advise using it to prevent shingles in the elderly population.
The shingrix segment dominated the market, with a revenue of USD 1.76 billion.
The shingrix segment dominated the market, with the most significant revenue of USD 1.76 billion. The segment's growth can be ascribed to rising illness awareness and the approval of shingrix vaccines in different areas. For example, in May 2019, the National Medical Products Administration in China licensed shingrix as a shingles preventive.
The recombinant vaccine segment dominated the market, with the most significant revenue of USD 2.43 billion.
The recombinant vaccine segment dominated the market, with the most significant revenue of USD 2.43 billion. The widespread use of shingrix throughout North America and Europe and the recombinant vaccine's great effectiveness in protecting adults against diseases drive the segment's growth.
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Market Dynamics:
Drivers: Increasing cases of herpes zoster worldwide
The ageing population compromised immune systems, and rising rates of chronic illnesses like HIV and cancer will all contribute to the global rise in the prevalence of herpes zoster disease, which will fuel the zoster vaccine market's expansion. Because more individuals are becoming aware of how important immunisation is to preventing shingles, there will likely be a rise in demand for zoster vaccine in the upcoming years.
Restraint: Limited vaccine uptake
In certain places, immunisation rates remain quite low despite strong recommendations. Misinformation, vaccination hesitancy, and adverse effect concerns impede market expansion.
Some of the major players operating in the zoster vaccine market are:
● Merck & Co., Inc.
● Changchun BCHT Biotechnology Co
● Vaccitech
● Pfizer Inc
● Jiangsu Recbio Technology Co., Ltd
● GSK plc
● SK chemicals
● Geneone Life Science
● CanSinoBIO
● Curevo Inc
Key Segments cover in the market:
By Product:
● SKYZoster
● Zostavax
● Shingrix
By Vaccine Type:
● Live Attenuated Vaccine
● Recombinant Vaccine
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About the report:
The global zoster vaccine market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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