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the shingles vaccine market revenues are expected to grow at a steady pace over the forecast period. Shingles, also called herpes zoster, is a viral infection that affects the cranial nerves that come from the brain. It is caused by the varicella zoster virus, the same virus as that of chickenpox. The virus can remain dormant for many years in the human body. Therefore, anyone who has had chickenpox in the past runs the risk of developing shingles. According to the Center for Disease Control and Prevention (CDC), there are an estimated one million cases of shingles reported each year in the United States. In addition, according to the CDC, approximately one in three people in the United States will develop shingles in their lifetime. The risk of shingles increases with age, with most cases reported in people over 40 years of age. This is mainly due to the weakening of the immune system due to the increased stress and insufficient intake of essential nutrients to maintain strong immunity.
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Symptoms include rashes, nerve pain, vision loss, chills, stomach upset, muscle weakness, skin infection and scarring. The treatment for shingles includes antiviral drugs – acyclovir, valacyclovir and famciclovir. These medications help reduce the duration and reduce the severity of the disease. In addition, badgesics can help relieve pain.
Dynamics of the shingles vaccine market:
There are safe and effective vaccines to prevent shingles. The Zostavax vaccine licensed by Merck & Co., Inc. in 2006 is an effective vaccine against shingles. The vaccine is intended for use in people over 50 years old. Tests on the Zostavax vaccine have shown that the effectiveness of this vaccine was 64% in people aged 60 to 69 years. Efficiency decreases with age, that is, 41% for the 70-79 age group and 18% for the 80+ age group. The vaccine was launched on the Indian market in February 2016, at a price corresponding to half the US market price. Zostavax, one of the only vaccines for shingles on the market, recorded sales of 749 million US dollars in 2015.
In October 2016, GlaxoSmithKline (GSK) – a global leader in the vaccine market – filed an application for US FDA approval for its shingles vaccine, Shingrix. Shingrix has shown better results than Zostavax in its clinical trials. The vaccine was 90% effective in people over 70 years old. The overall effectiveness of the vaccine is 97%. Its greater effectiveness, even among older people, should increase its adoption worldwide. The impressive results on the circuit would place Shingrix in a strong competitive position in the global market, currently monopolized by Zostavax. The company reportedly filed regulatory approvals on the European and Canadian markets in 2016, followed by Japan in 2017. It is estimated that Shingrix's sales would reach US $ 1 billion by 2021.
The shingles vaccine market is witnessing a rapid influx of new and expensive products. Industry is by nature consolidated; however, new entrants are expected in the near future.
Regional badysis of the vaccine market for shingles:
North America and Europe are expected to collectively account for a significant share of the market between 2016 and 2024. Growth in the North American market is mainly driven by growing demand in the United States, while the European market is expected to be boosted by the increased therapeutic demand European Union.
The zoster vaccine market in the Asia-Pacific region is expected to experience the strongest growth during the review period. There is a large addressable market to capitalize on in the region, particularly in China and India. Active marketing and price differentiation would help companies strengthen their presence in the Asia-Pacific market.
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Market opportunity for shingles vaccine:
The prevalence of shingles is increasing worldwide, mainly because of the aging of the population. However, the high cost of vaccines limits vaccination campaigns in emerging economies, characterized by insufficient insurance coverage. The main concern of health experts is the reduction of post-herpetic neuralgia badociated with the shingles vaccine. Zostavax has been successful to some extent in reducing post-herpetic neuralgia because of the effect of the vaccine on reducing the risk of developing shingles. Better results for Shingrix would be a boon to the highly lucrative world market for shingles vaccines.
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