Shingles Vaccine Market Size, Share, Growth Analysis, By Product(Shingrix, Zostavax), By Vaccine Type(Recombinant Vaccine, and Live Attenuated Vaccine) - Industry Forecast 2024-2031

Shingles Vaccine Market size was valued at USD 3.5 Billion in 2021 and is poised to grow from USD 3.99 Billion in 2022 to USD 11.29 Billion by 2030, growing at a CAGR of 7.6% in the forecast period (2023-2030).

The growth of the market is driven by several factors, including the heightened risk of developing shingles, particularly among individuals aged 60 and above, along with advancements in healthcare policies in developed nations. The CDC's estimations reveal that approximately one in three individuals in the U.S. will experience shingles during their lifetime. The vaccination against shingles is endorsed in key countries like the U.S., Canada, the U.K., Italy, Germany, Australia, New Zealand, and South Korea. In the context of the COVID-19 pandemic, the CDC issued guidelines in March 2021 designating shingles vaccination as an essential preventive care service.

The market is further stimulated by the shift towards innovative recombinant vaccines, although their relatively higher cost contributes to their growth prospects. Since 2006, the U.S. Advisory Committee on Immunization Practices has recommended shingles vaccination for adults aged 60 and above. In January 2018, the CDC endorsed Shingrix over Zostavax due to the former's superior vaccine efficacy. This preference is echoed in Canada, Australia, and parts of Europe, all of which advocate for vaccination to mitigate the impact of the disease.

As global herpes zoster cases increase, vaccine adoption is expected to follow suit. The incidence of herpes zoster rises with age, estimated at 3 to 5 cases per 1,000 individuals annually, as shown in a German study. This higher risk underscores the importance of shingles vaccination to curb its prevalence.

US Shingles Vaccine Market is poised to grow at a sustainable CAGR for the next forecast year.