Shingles Vaccine Market Size to Grow by $ 1.08 bn through 2020-2024
Technavio research projects the shingles vaccine market to grow by $ 1.08 bn, accelerating at a CAGR of over 7% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Shingles Vaccine Market: Key Market Driver
One of the primary factors that will trigger the growth of the shingles vaccine market size is favourable reimbursement policies. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Shingles Vaccine Market: Vendor Analysis
The market is concentrated due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. CanSino Biologics Inc., Curevo Inc., GeneOne Life Science Inc., GlaxoSmithKline Plc, Merck & Co. Inc., SK Bioscience, and Vaccitech Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.
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Technavio has been monitoring the Global Shingles Vaccine Market and it is expected to grow by USD 1.08 billion accelerating at a CAGR of over 7% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report
Medical journals are reporting an increase in cases of shingles or herpes zoster and are suspecting COVID-19 co-infections. Doctors believe that the physical and emotional stress of COVID-19 may be a trigger factor for shingles. Given the ongoing COVID-19 pandemic, individuals at highest risk should consider vaccination against shingles. Ensuring that routine vaccination is maintained or reinitiated during the COVID-19 pandemic is essential for protecting individuals and communities from vaccine-preventable diseases and outbreaks,
Shingles Vaccine Market: Favourable reimbursement policies to drive growth
One of the primary factors that will trigger the growth of the Shingles Vaccine Market size is The growing incidence of the virus over the past few decades. Shingles cause painful blistering rashes and can result in serious complications such as painful postherpetic neuralgia. The middle-aged adult population is more susceptible to shingles. It can re-occur several times during the lifetime of an individual. Hence, with increasing incidence and prevalence of shingles across the world, the demand for shingles vaccines is also expected to grow during the forecast period.
Shingles Vaccine Market: Vendor Analysis
The shingles vaccine market is concentrated and dominated by large pharmaceutical vendors that offer highly effective and safe vaccines. SK Bioscience and Vaccitech Ltd. are some of the major market participants. Although the high incidence and prevalence of shingles will offer immense growth opportunities, the side effects of shingles vaccines will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
