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Global Zoster Vaccine Live Market Size is expected to experience a CAGR of 11.3% through 2024 - 2031, according to industry projections.
The "Zoster Vaccine Live Market" has experienced impressive growth in recent years, expanding its market presence and product offerings. Its focus on research and development contributes to its success in the market.
Zoster Vaccine Live Market Overview and Report Coverage
Zoster Vaccine Live (ZVL) is a herpes zoster vaccine used for the prevention of shingles in adults aged 50 and older. It is a live attenuated vaccine that helps protect against the reactivation of the varicella-zoster virus, which can cause shingles.
The future outlook for the Zoster Vaccine Live Market is promising, with an expected growth rate of % during the forecasted period (2024-2031). This growth can be attributed to the increasing awareness about the importance of vaccination, growing elderly population, and rising prevalence of shingles.
The current market for Zoster Vaccine Live is witnessing a surge in demand due to the ongoing efforts to prevent and control infectious diseases. The market forecast suggests a steady increase in revenue and market share, driven by advancements in vaccine technology, favorable government support for vaccination programs, and a higher focus on preventive healthcare.
The latest market trends in the Zoster Vaccine Live Market include the development of new and improved vaccines, increasing research and development activities, and a growing emphasis on immunization strategies to combat infectious diseases. Overall, the market growth analysis indicates a promising future for Zoster Vaccine Live, with significant opportunities for expansion and innovation.
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Market Segmentation
The Zoster Vaccine Live Market Analysis by Types is segmented into:
- Monovalent Vaccine
- Combination Vaccine
Zoster Vaccine Live market includes two types of vaccines: Monovalent Vaccine and Combination Vaccine. Monovalent Vaccine protects against one specific strain of the virus that causes shingles, while Combination Vaccine offers protection against multiple strains. Both vaccines aim to prevent shingles, a painful skin rash caused by the varicella-zoster virus. Monovalent Vaccine is usually recommended for adults over 50, while Combination Vaccine may be used in certain cases to provide broader protection.
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The Zoster Vaccine Live Market Industry Research by Application is segmented into:
- Kids Injection
- Adults Injection
Zoster Vaccine Live is a vaccine used to prevent shingles, a painful skin rash caused by the same virus that causes chickenpox. The vaccine is available in two types: Kids Injection for children aged 9 and above, and Adults Injection for individuals aged 50 and older. Both vaccines stimulate the immune system to protect against shingles. The market for Zoster Vaccine Live is driven by the increasing awareness of the importance of vaccination to prevent shingles and its complications.
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In terms of Region, the Zoster Vaccine Live Market available by Region are:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The Zoster Vaccine Live market in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa is driven by the increasing prevalence of shingles and the growing awareness about preventive healthcare. The introduction of new and advanced vaccines by key players like Merck and GSK is expected to further boost market growth in these regions. In North America, the United States and Canada are the key markets, while in Europe, Germany, France, the ., and Italy show significant growth potential. In Asia-Pacific, countries like China, Japan, India, and Australia present lucrative opportunities for market expansion. Likewise, countries in Latin America and the Middle East & Africa, such as Mexico, Brazil, Turkey, and Saudi Arabia, exhibit a growing demand for Zoster Vaccine Live. Key players are focusing on strategic partnerships, product innovations, and geographical expansions to capitalize on these market opportunities.
Zoster Vaccine Live Market Emerging Trends
Some emerging and current trends in the global Zoster Vaccine Live market include the increasing awareness about the importance of vaccination in preventing shingles and related complications, the growing elderly population driving demand for the vaccine, advancements in vaccine technology leading to more effective and safer formulations, and the expansion of government initiatives and healthcare policies promoting vaccination programs. Additionally, the rising prevalence of shingles and postherpetic neuralgia, as well as the growing focus on preventive healthcare measures, are contributing to the growth of the Zoster Vaccine Live market , the market is expected to witness significant growth in the coming years.
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Major Market Players
- Merck
- GSK
Merck & Co., Inc. is a leading player in the Zoster Vaccine Live market. The company's Zostavax vaccine was the first shingles vaccine approved for use in the United States. Merck has a strong market presence and wide distribution network, which has contributed to its growth in the Zoster Vaccine Live market. The company has been focusing on research and development to improve its vaccine portfolio and enhance its market share.
GlaxoSmithKline (GSK) is another key player in the Zoster Vaccine Live market. The company's shingles vaccine, Shingrix, has been gaining popularity due to its high efficacy and strong protection against shingles. GSK has been investing in marketing and promotional activities to increase awareness about its vaccine, which has propelled its growth in the market. The company's robust pipeline of vaccines and strategic collaborations have also contributed to its market success.
The Zoster Vaccine Live market is expected to witness significant growth in the coming years, driven by the increasing geriatric population and rising awareness about preventive healthcare. Technological advancements in vaccine development and growing government initiatives to promote vaccination are also expected to boost market growth.
In terms of market size, the global Zoster Vaccine Live market was valued at $ billion in 2020 and is projected to reach $2.2 billion by 2027, with a CAGR of 7.8% during the forecast period. Merck and GSK are expected to maintain their leading positions in the market and continue to drive growth through innovation and strategic partnerships.
In terms of sales revenue, Merck reported Zostavax sales of $715 million in 2020, while GSK reported Shingrix sales of $1.7 billion during the same period. These figures highlight the strong sales performance of both companies in the Zoster Vaccine Live market.
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