Total global spending on coronavirus vaccines are expected to arrive $ 157 billion by 2025, due to ongoing mass vaccination programs and repeat doses expected every two years, according to a report released today by US health data firm IQVIA Holdings.
IQVIA, which provides data and analysis for the health sector, announced that expects the first wave of COVID-19 vaccinations reach about 70% of the world population by the end of 2022. After the initial vaccination follow repeated doses every two years, According to the report, which is based on current data on the duration of the effect of vaccines, notes the APE-MPE.
The US is preparing for the possibility need a repeat dose 9 to 12 months after the first full vaccination against COVID-19, a White House official said earlier this month. Pfizer also announced that repeat doses may be needed within 12 months.
Vaccine spending is expected to be as high as $ 54 billion this year as mass vaccination campaigns are under way around the world. They are expected to fall further to eventually reach $ 11 billion in 2025, as increasing competition and quantities of vaccines will drive down prices, said IQVIA Vice President Murray Aitken.
The forecast for such a rapid increase in sales for a new class of drugs or vaccines is unprecedented, But it recalls the $ 130 billion spent on new hepatitis C treatments between 2014 and 2020 due to accumulated demand, Aitken said in an interview.
Expenditure on COVID-19 vaccine costs corresponds to 2% of about 7 trillion. dollars provided for all prescription drugs during this time period, according to IQVIA said.
Excluding the cost of COVID-19 vaccines, Total drug spending projected to be $ 68 billion lower in six years from 2020 to 2025 than would be without the pandemic, according to the study.
The pandemic caused major problems in visits to doctors, in medical procedures but also in the use of drugs, with the result that initially stocks of some preparations accumulated and then the trend normalized, according to the study.
“While vaccines against COVID-19 will cost $ 157 billion over the next five years,” Aitken said, “this is a very small price compared to the human cost of the pandemic.”
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