Global Shingles Vaccine Market Outlook to 2030

Global Shingles Vaccine Market Overview

• The global shingles vaccine market is valued at USD 4.24 billion, driven by an aging population and increasing awareness of vaccine benefits among older adults. The market has witnessed consistent growth as public health campaigns emphasize the long-term risks associated with shingles, such as chronic pain and complications. Pharmaceutical companies are actively investing in vaccine research and development, further propelling market growth. In addition, the rise of immunocompromised individuals due to chronic illnesses has also heightened the demand for shingles vaccination, which contributes to the overall market expansion.

• North America and Europe dominate the shingles vaccine market due to the high adoption of preventive healthcare, better access to healthcare facilities, and favorable government policies supporting adult vaccination programs. The U.S. leads in this market due to its well-established healthcare system and widespread awareness campaigns. Europe, particularly countries like the U.K. and Germany, have strong immunization programs for older adults, which ensures higher uptake rates of the shingles vaccine. Additionally, Asia Pacific shows significant potential, driven by emerging markets like Japan and South Korea where the aging population is rapidly growing.
• Adult vaccination programs are gaining traction globally, driven by rising awareness and government policies aimed at reducing the burden of preventable diseases. In 2024, over 50 countries have implemented adult immunization programs that include shingles vaccines, reflecting a growing focus on adult healthcare. The U.S. alone administers more than 4 million adult vaccinations annually, a number expected to increase with new federal guidelines supporting adult immunization campaigns for diseases such as shingles.

Global Shingles Vaccine Market Segmentation

• By Vaccine Type: The shingles vaccine market is segmented into recombinant vaccines and live attenuated vaccines. Recently, recombinant vaccines, such as Shingrix, have gained significant dominance due to their superior efficacy compared to traditional live attenuated vaccines. The growing preference for recombinant vaccines is attributed to their better performance, particularly in the elderly population where immune response is typically lower. As a result, this segment holds a major share in the shingles vaccine market, driven by strong adoption rates across developed markets.

• By Region: The shingles vaccine market is regionally segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America remains the largest regional market, driven by the U.S., where strong government initiatives and widespread insurance coverage for vaccines ensure a higher uptake. Europe follows closely, particularly in countries with extensive adult immunization programs. Meanwhile, Asia Pacific is experiencing fast-paced growth, especially in Japan and South Korea, where aging populations and increased healthcare spending are boosting the demand for shingles vaccines.

• By End User: The shingles vaccine market is segmented by end user into hospitals, clinics, retail pharmacies, and others (community health centers). Hospitals hold a dominant market share as they are often the primary points of care for adult vaccination programs, particularly in developed countries. Moreover, hospitals have the necessary resources and infrastructure to manage large-scale vaccination efforts, making them the top choice for vaccine administration. This segment is likely to maintain its dominance due to the availability of advanced healthcare facilities.

Global Shingles Vaccine Market Competitive Landscape

The shingles vaccine market is highly consolidated, with a few dominant players holding the majority of market share. Key companies focus on strategic initiatives, including collaborations, mergers, and R&D investments to strengthen their market positions. The competition is largely based on the efficacy of vaccines, pricing, and global distribution networks.

Global Shingles Vaccine Industry Analysis

Growth Drivers

• Aging Population: The global population aged 65 and over is projected to reach over 800 million by the end of 2024, representing a significant increase in the demographic most vulnerable to shingles (herpes zoster). As life expectancy continues to rise, especially in developed countries such as Japan (with a median age of 49) and Germany (47 years), the need for effective vaccination strategies to manage shingles is increasing. According to the World Bank, by 2024, nearly 25% of Europes population will be aged 65 or older, amplifying demand for shingles vaccination programs.
• Increasing Awareness of Vaccine Benefits: Awareness campaigns from public health organizations have led to increased knowledge about the benefits of shingles vaccines. For instance, government bodies in the U.S. such as the CDC have promoted shingles vaccination among adults over 50, resulting in more than 3.5 million doses administered annually. In the European Union, public health efforts have pushed vaccination rates to over 30% of eligible populations in countries such as the U.K. This increase in awareness is driving market growth, as individuals seek to mitigate the severe symptoms associated with shingles.
• Rise in Immunocompromised Individuals: Globally, around 37 million people are living with HIV in 2024, according to UNAIDS, and a significant portion of this population is at risk of shingles. Additionally, there are approximately 100 million individuals with diabetes and 18 million with cancer, both conditions that weaken the immune system. These vulnerable groups are more susceptible to shingles, increasing the demand for vaccines. With the global burden of chronic diseases expected to grow, the market for shingles vaccines is poised to expand accordingly.

Market Restraints

• High Vaccine Cost: The cost of shingles vaccines remains a key barrier to widespread adoption, particularly in low-income regions. In the U.S., a single dose of the Shingrix vaccine can cost upwards of $150 without insurance, limiting accessibility for uninsured or underinsured populations. While governments and insurers subsidize vaccines in some regions, high costs continue to deter uptake in middle-income countries. For example, in Brazil and South Africa, where out-of-pocket healthcare expenditures are high, shingles vaccination rates remain significantly lower than in high-income countries.
• Limited Access to Healthcare in Developing Regions: Despite global efforts to increase healthcare access, developing regions such as Sub-Saharan Africa and parts of Southeast Asia still face challenges in vaccine distribution. According to the World Bank, more than 400 million people in low-income countries lack access to basic healthcare infrastructure, making vaccine distribution logistically challenging. Limited cold-chain capabilities and healthcare workforce shortages further exacerbate this issue, hindering the availability of shingles vaccines in these regions.

Global Shingles Vaccine Market Future Outlook

Over the next five years, the global shingles vaccine market is expected to experience strong growth, driven by continuous advancements in vaccine technology, increased healthcare spending, and rising public awareness. The growing aging population, particularly in regions like Asia Pacific, will provide lucrative opportunities for market expansion. Furthermore, governments in developing countries are increasingly recognizing the importance of adult vaccination programs, creating additional demand. As vaccine coverage expands globally, it is anticipated that recombinant vaccines will continue to dominate the market due to their higher efficacy and safety profile.

Market Opportunities

• Emerging Markets: Emerging markets, including India and China, are rapidly expanding their healthcare infrastructures, presenting significant growth opportunities for the shingles vaccine market. India, for instance, has allocated over $8 billion in its 2024 healthcare budget for vaccination programs, and Chinas aging population, expected to reach 400 million by 2035, will drive demand for adult vaccines, including shingles. Additionally, improving access to healthcare in Southeast Asian nations like Vietnam is creating opportunities for vaccine manufacturers to expand their reach in these untapped regions.
• Technological Advancements in Vaccine Development: Advancements in vaccine technology, including the use of mRNA platforms and improved adjuvants, are enhancing the effectiveness of shingles vaccines. For instance, newer vaccines such as Shingrix have shown over 90% effectiveness in preventing shingles, a significant improvement over earlier versions. These innovations are being driven by investments in biopharmaceutical research, which amounted to over $190 billion globally in 2023. With ongoing research focused on developing single-dose vaccines, the market is expected to benefit from the growing adoption of more efficient and accessible vaccine solutions.