Shingles Vaccine Market Overview and Introduction
Shingles Vaccine Market is estimated to be valued at ~US$ 1,999.5 million in 2019. It is anticipated to further grow at a CAGR of ~7.4% from 2019 to 2030.
A vaccine is a biological preparation that provides active acquired immunity to a particular disease. Vaccination is one of the most effective ways to prevent diseases. A vaccine helps the body’s immune system to recognize and fight pathogens like viruses or bacteria, which then keeps us safe from the diseases they cause. Vaccines are made using the disease-causing virus or bacteria, but in a form that will not harm human body.
Herpes zoster, also known as shingles is caused by the reactivation of the varicella zoster virus (VZV), the same virus that causes chickenpox. Primary infection with VZV causes varicella. Once the illness resolves, the virus remains latent in the dorsal root ganglia. VZV can reactive later in a person’s life and cause a painful, maculopapular rash called herpes zoster. Postherpetic neuralgia (PHN) is the most common complication of herpes zoster. PHN is pain that persists in the area where the rash once was for more than 90 days after rash onset. PHN can last for weeks or months, and occasionally, for years. Two vaccines, zoster vaccine live (ZVL, Zostavax by Merck & Co., Inc) and recombinant zoster vaccine (RZV, Shingrix by GlaxoSmithKline plc), are common vaccines used.
Rising prevalence & incidences of shingles is anticipated to ensure a strong demand for shingles vaccination products worldwide. For instance, incidences of shingles have significantly risen in the US, with incidence rate among individuals belonging to the age group of 50-59 years, climbing from ~4.1 in 1998 to approximately 7.9 per 1000 people in 2016. Moreover, rising geriatric population has been one of the pivotal factors in contributing to the growth of the global shingles market. However, high costs associated with development, storage of vaccines is likely to restrain the market to a certain extent.
Shingles Vaccine Market By Product, By Patient Type
The global shingles market has primarily been segmented into two broad categories, viz. By Product and By Patient Type. The segment of product is further classified into Shingrix, Zostavax and Other Products (If Any). On the basis of product sales, the market for shingrix outnumbered that of Zostavax, owing to better efficiency and stronger protection against herpes zoster and PHN. Wheres, the segment of patient type is bifurcated into pediatric patients & adult patients.
Shingles Vaccine Market By Region
The global shingles market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). In 2018, North America accounted for the largest share in the global shingles vaccines, owing to availability of efficient healthcare insurance & reimbursement systems, better awareness, and favorable government regulations among others.
Shingles Vaccine Market Prominent Players
The global shingles market is majorly governed by GlaxoSmithKline plc., and Merck & Co., Inc.. and other players
- INTRODUCTION
- Market Definition
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2016 & 2017; Base Year – 2018; Forecast Years – 2019 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Methodology
- Bottom Up Approach
- Top Down Approach
- Data Validation and Triangulation
- Market Forecast Model
- Limitations/Assumptions of the Study
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESSMENT
- Overview
- Drivers
- Barriers/Challenges
- Opportunities
- UNIQUE SELLING PROPOSITIONS (USPs)
- Pipeline Assessment
- Epidemiological Assessment
- Competitive Landscape Assessment
- GLOBAL SHINGLES VACCINE MARKET - ANALYSIS & FORECAST, BY PRODUCT
- Shingrix
- Zostavax
- Other Products (If Any)
- GLOBAL SHINGLES VACCINE MARKET - ANALYSIS & FORECAST, BY PATIENT TYPE
- Pediatric Patients
- Adult Patients
- GLOBAL SHINGLES VACCINE- ANALYSIS & FORECAST, BY REGION
- North America shingles vaccine Market
- North America Shingles Vaccine Market, By Country
- US
- Canada
- North America Shingles Vaccine Market Analysis & Forecast, By Product
- North America Shingles Vaccine Market Analysis & Forecast, By Patient Type
- Europe Shingles Vaccine Market
- Europe Shingles Vaccine Market, By Country/Region
- Germany
- UK
- France
- Rest of Europe (ROE)
- Europe Shingles Vaccine Market Analysis & Forecast, By Product
- Europe Shingles Vaccine Market Analysis & Forecast, By Patient Type
- Asia Pacific Shingles Vaccine Market
- Asia Pacific Shingles Vaccine Market, By Country/Region
- China
- Japan
- India
- Rest of Asia Pacific (RoAPAC)
- Asia Pacific Shingles Vaccine Market Analysis & Forecast, By Product
- Asia Pacific Shingles Vaccine Market Analysis & Forecast, By Patient Type
- Rest of the World (ROW) Shingles Vaccine Market
- Rest of the World Shingles Vaccine Market, By Country/ Region
- Latin America
- Middle East & Africa
- Rest of the World Shingles Vaccine Market Analysis & Forecast, By Product
- Rest of the World Shingles Vaccine Market Analysis & Forecast, By Patient Type
- COMPANY PROFILES (Business Overview, Products Offered, Financial Performance*, Recent Developments)
- GlaxoSmithKline plc.
- Merck & Co., Inc.
- Other Players *Financial details might not be captured in case of privately-held companies or for companies that do not report this information in public domain
Research Methodology
It is a well-organized procedure to carry out research. We at Market Growth Insight follow global, all-inclusive & iterative research methodology to develop our research reports. We are using both the top down as well as bottom-up approaches for partitioning and evaluating the significant aspects of the market.
It is a systematic & strategic approach for conducting a market study. Our market research methodology is based on the concept that gives a detailed description of the factors behind an observation. Let us see the detailed market research methodology.
Primary Data Research
It is the very basic stage of research the raw data is obtained and collected on a boarded front.Data is constantly filtered to ensure that only validated and authenticated sources are considered. Moreover,information is also mined from a large group of reports in our vault, as well as various reputed paid databases. It is necessary to understand the entire value chain and in order to facilitate this; we gather information from raw material suppliers, distributors as well as buyers, for extensive knowledge of the market.
The technical issues and trends are acquired from reviews, technical discussion and trade journals. Moreover, the technical data is also accumulated from intellectual property prospective, focusing on a void area and freedom of movement. The industry elements regarding drivers, restraints, pricing trends are also collected. Subsequently, the material developed contains a wide range of original and unique information that is then further cross-validated and authenticated with published sources.
Statistical Model
Simulation models are responsible to estimate and forecast our market, and for each research, a unique model is created and customized. The data accumulated for market dynamics, innovation scene, application improvement, estimating trends is delivered into the model and analyzedsimultaneously. These components are examined on a comparative basis, and their impact on the figure of the frame is measured with the assistance of correlation, regression and time series investigation. Forecasting of the market is performed through the consolidation of economic tools, innovative examination, and industry experience along with domain expertise. Generally, economic models are utilized for short-termforecasting, technological market models are used for long-term forecasting of a market. These are based on an amalgamation of technology innovation, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to the market estimation is preferred, with key regional markets analyzed as separate entities and integration of information to get a worldwide evaluation. This is very critical for a deep knowledge of the business as well as ensuring negligible mistakes. Below mentioned are some of the parameters are considered for forecasting
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory situation and expected developments
Current capacity and expected capacity additions up to 2025
Market driving organizations
The key targets of essential research are as per the following
To approve our information as far as exactness and adequacy
To pick up an understanding of the present market and future desires
We dole out weights to these parameters and evaluate their market effect utilizing weighted normal examination, to infer a normal market development rate.
This is the last advance in assessing and anticipating for our reports. Thorough essential meetings are led, on up close and personal and additionally via telephone to approve our discoveries and suppositions used to get them. Interviewees are drawn closer from driving organizations over the esteem chain including providers, innovation suppliers, area specialists,and purchasers in order to guarantee an all-encompassing and fair photo of the market. Essential meetings help in information approval, as well as give basic bits of knowledge into the market, current business situation and future desires and upgrade the nature of our reports. Every one of our assessments and figure is checked through comprehensive essential research with Key Industry Participants (KIPs) which ordinarily include:
Preliminary Investigation
This is the closing phase in estimating and forecasting for our reports. In this stage face to face and telephonic exhaustive interviews are conducted to validate our conclusion and assumptions used to obtain the final data. The leading companies across the value chain including suppliers, technology providers, domain experts,and purchasers are approaching the interviewees to ensure a holistic and unbiased view of the market. These interviews are led over the world, with language boundaries defeat with the guide of local staff and translators. Primary interviews in information validation as well as give critical insights into the market, current business outline and future expectations upgrade the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants include
Leading market organizations
The key targets of primary research are as per the following:
To validate our data as far as exactness and adequacy
To pick up an understanding into the present market and future desires
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