Shingles Vaccine Market - Global Industry Insights, Trends, and Opportunity Analysis, 2016-2024

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• REPORT DESCRIPTION

Shingles Vaccine Market Overview The shingles
vaccine market revenue is expected to grow at a
robust rate over the forecast period. Shingles,
also known as herpes zoster, is a viral infection
that affects the cranial nerves that originate in
the brain. It is caused by the varicella zoster
virus, the same virus that also cases chicken
pox. The virus can stay dormant for many years in
the human body. Therefore, anyone who has had
chicken pox in the past is at 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 every year in the U.S. Moreover, CDC
states that around one in every three people in
the U.S. will develop shingles in their lifetime.
The risk of shingles increases with age, with
most cases reported among people over 40 years
old. This is mainly due to weakening of the
immune system on account of increased stress and
inadequate intake of essential nutrients to keep
immunity strong. Symptoms include skin rashes,
nerve pain, vision loss, chills, upset stomach,
muscle weakness, skin infection, and scarring.
Treatment for shingles includes antiviral
medicationacyclovir, valacyclovir, and
famciclovir. These medicines help shorten the
length and alleviate the severity of the illness.
Further, analgesics may help relieve the
pain. 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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REPORT DESCRIPTION
Shingles Vaccine Market Dynamics There is a safe
and effective vaccines available for preventing
shingles. The Zostavax vaccine licensed by Merck
Co., Inc. in 2006 is an effective vaccine
against shingles. The vaccine is intended for use
in population over 50 years of age. The trials of
the Zostavax vaccine demonstrated that the
vaccine was 64 effective in people aged 60 to 69
years. The effectiveness reduces with increasing
age i.e. to 41 for the 7079 age group, and 18
for those 80 years of age and older. The vaccine
was launched in the India market in February
2016, at half the price of the U.S. market.
Zostavax, among the only shingles vaccine in the
market, recorded sales of US 749 million in
2015. In October 2016, GlaxoSmithKline (GSK)a
global leader in vaccines marketfiled for U.S.
FDA approval for its shingles vaccine, Shingrix.
Shingrix has demonstrated better outcomes than
Zostavax in its clinical trials. The vaccine was
90 efficacious in people over 70 years of age.
The overall effectiveness of the vaccine is found
to be 97. Its higher effectiveness even among
elder group of people is projected to increase
its adoption across the globe. The impressive
trail results would put Shingrix in a strong
competitive position in the global market,
currently monopolized by Zostavax.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. Request report sample for more
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REPORT DESCRIPTION
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. 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. Click here to know more about this
report https//www.coherentmarketinsights.com/ong
oing-insight/shingles-vaccines-market-73
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