Seattle, WA -- (SBWire) -- 09/24/2019 --The shingles is a viral infection that leads to painful rash. Shingles can occur anywhere on the body in the stripes of blisters. They can occur in a single stripe that wraps around either on left or right torso. The shingles is caused by varicella zoster virus, which is the same virus that causes chicken pox. This virus can stay latent in human for many years before causing infection. That is why, people who had chicken pox are at risk of developing shingles. According to the Centers for Disease Control and Prevention (CDC), around one million Americans are affected with shingles every year. Moreover, its risk increases with age as most cases are reported n people over 40 years old. This is due to weakened immune system on account of lack of essential nutrients and increased stress.
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Its symptoms include skin rashes, vision loss, chills, nerve pain, muscle weakness, upset stomach, scarring, and skin infection. Shingles' treatment includes medication- acyclovir, valacyclovir, and famciclovir. These medications shorten the length and severity of the disorder. Moreover, analgesics are used as pain-reliever.
Global Shingles Vaccine Market Dynamics
High presence of effective vaccines is expected to drive growth global shingles vaccine market. For instance, the Zostavax vaccine licensed by Merck & Co., Inc., which was launched in 2016, is an effective vaccine against shingles. This vaccine is indicated for patients of age 50 years and above. The vaccine's trials showed its efficacy in 64% people aged 60-69 years. This effectiveness reduces with increasing age, for instance it is 41% in 70-79 age, while it is 18% in people above 80 years. The Zostavax has been a huge success in the market with recorded sales of US$ 749 million in 2015.
Furthermore, key companies in the market are looking to gain the U.S. FDA approval for their shingles vaccine, which is expected to drive the market growth. For instance, in October 2016, GlaxoSmithKline (GSK) filed for the U.S. Food and Drug Administration approval for its shingles vaccine Shingrix. Shingrix has previously demonstrated better results than Zostavax in its clinical trials. The vaccine showed 90% efficacy in people aged 70 years and above, while it showed overall effectiveness of 97%. Therefore, these impressive results would get Shingrix strong market position. The company is reported to have filed for regulatory approvals in the Europe and Canada markets in 2016, followed by Japan in 2017. It is estimated that the sales of Shingrix would reach US$ 1 billion by 2021.
Global Shingles Vaccine Market Regional Analysis
North America and Europe are expected to collectively account for a major share of the market between 2016 and 2024. North America market growth is primarily driven by rising demand in the U.S., while the market in Europe is expected to be driven by increased therapeutic demand from European Union.
Asia Pacific shingles vaccine market is expected to witness highest growth over the forecast period. There is a wide addressable market that needs to be capitalized upon in the region especially in China and India. Active marketing and differential pricing would help companies to strengthen their market presence in Asia Pacific.
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Shingles Vaccine Market Opportunity
Prevalence of shingles is increasing across the globe, fuelled mainly by increasing aging population. However, high cost of vaccines is limiting vaccination drive in emerging economies, characterized by inadequate insurance coverage. The major concern among healthcare experts is reduction in postherpetic neuralgia from the shingles vaccine. Zostavax has been successful to a certain extent in reducing postherpetic neuralgia due to the effect of the vaccine on reducing risk of developing herpes zoster. Better outcomes of Shingrix would be a boon for highly lucrative global shingles vaccines market.
Key Developments
- Major institutes are focused on R&D on shingles vaccine. For instance, in August 2019, a team of researchers from Centre de research du Centre hospitalier de l'Université de Québec and the Université Laval, Québec, found that the Shingrix vaccine was cost-effective for adults age 60 years and above and likely more cost-effective than Zostavax.
- Approval and launch of mew shingles vaccines is expected to boost the market growth. For instance, in May 2019, the National Medical Products Administration (NMPA) of China approved Shingrix, developed by GlaxoSmithKline plc. for the prevention of shingles in adults aged 50 years or older.
- Moreover, in March 2018, the European Commission and the Japanese Ministry of Health, Labor and Welfare approved Shingrix for the prevention of shingles and post-herpetic neuralgia in adults aged 50 years or older.
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Shingles Vaccine Market to Experience a Tremendous Growth in Near Future