The new shingles vaccine, Shingrix, has risen to lead the market in its first year of sales. It quickly gained 44% of the market share with its strong shingles prevention effect despite its high price. Since the addition of Shingrix, the market has doubled in size.

According to the drug research institution IQVIA, the shingles vaccine market was worth KRW 87 billion last year, expanding 105.8% from the previous year.

The domestic shingles vaccine market has been declining every year after reaching KRW 89.9 billion in 2019. In 2022, the market size was KRW 42.3 billion, less than half of what it was 3 years ago. The analysis is that the pandemic has caused the premium vaccine market to shrink