Around the world, shingles are becoming more common, primarily due to an increase in the number of elderly people. Vaccination is, however, being restricted in emerging economies due to high vaccine costs and insufficient insurance coverage. The main issue that worries medical professionals is the shingles vaccine's potential to reduce postherpetic neuralgia. Due to the vaccine's ability to lower the risk of contracting herpes zoster, Zostavax has proven somewhat beneficial in lowering postherpetic neuralgia. Improved results from Shingrix would be beneficial for the hugely valuable global market for shingles vaccinations. The market is anticipated to grow as new shingles vaccines receive more approval and are introduced. Over the projected period, the shingles vaccine market in Asia Pacific is anticipated to develop at the fastest rate. The region has a significant potential market that should be exploited, particularly in China and India. Companies could increase their market presence in Asia Pacific by engaging in active marketing and offering competitive pricing.
According to Coherent Market Insights, The market for Shingles Vaccines was estimated to be worth $2.99 billion globally in 2020, and from 2021 to 2028, it is anticipated to increase at a CAGR of 9.9%.
Prominent Companies in the Shingles Vaccines Industry:
1. Merck & Co., Inc.,
The company was established in 1668, and its corporate offices are located in Rahway, New Jersey. Merck manufactures pharmaceuticals, vaccines, biologic treatments, and items for animal health. The company declared in September 2022 that it would combine with Merck Animal Health after paying an unknown fee for the cattle management firm Vence. PrognostiX Poultry was purchased by Merck Animal Health in February 2021.
2. GlaxoSmithKline
The company was founded in 2000 and has its main office in London, England, UK. The business creates, produces, and sells consumer health goods, including vaccinations, over-the-counter drugs, and prescription medications. GSK announced in April 2023 that it would pay $2.0 billion to purchase BELLUS Health Inc. The corporation changed its name from GlaxoSmithKline to GSK on May 16, 2022. The company announced in April 2022 that it will purchase Sierra Oncology Inc for $1.9 billion, or $55 per share. To expand its vaccine business, GSK declared in May 2022 that it will buy Affinivax and its phase II 24-valent pneumococcal vaccine candidate for up to $3.3 billion.
*Definition: The only approach to prevent shingles and postherpetic neuralgia (PHN), the most typical shingles consequence, is to receive a shingles vaccination.
