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TOTAL global spending on COVID-19 vaccines is projected to reach $157 billion by 2025, driven by mass vaccination programs underway and “booster shots” expected every two years, according to a report by US health data company IQVIA Holdings Inc released on Thursday.
IQVIA, which provides data and analytics for the healthcare industry, said it expects the first wave of COVID-19 vaccinations to reach about 70 per cent of the world’s population by the end of 2022.
Booster shots are likely to follow initial vaccinations every two years, the report said, based on current data on the duration of effect of the vaccines, Reuters reported. The United States is preparing for the possibility that a booster shot will be needed between nine to 12 months after people receive their first full inoculations against COVID-19, a White House official said earlier this month.
Total COVID-19 vaccine spending to reach $157bn by 2025, says report
Report also forecasts total global medicines spending to hit approximately $1.6 trillion in 2025
Total cumulative spending on COVID-19 vaccines is projected to reach $157bn by 2025, according to a new report from the IQVIA Institute for Human Data Science.
The report, which considers the future level of global spending on medicines, also projected that the global medicine market – excluding COVID-19 vaccines – will reach approximately $1.6 trillion in 2025, reflecting a 3-6% growth.
It noted that even though short-term impact from COVID-19 in 2020 and 2021 has been significant, its effect on long-term growth is ‘more muted’.
World to spend $157 billion on Covid-19 vaccines through 2025 : Report
World to spend $157 billion on Covid-19 vaccines through 2025 : Report
Total global spending on Covid-19 vaccines is projected to reach $157 billion by 2025, driven by mass vaccination programs underway and booster shots expected every two years, according to a report by U.S. health data company IQVIA Holdings Inc (IQV.N) released on Thursday.
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UPDATED: April 30, 2021 09:21 IST
The United States is preparing for the possibility that a booster shot will be needed between nine to 12 months after people receive their first full inoculations against COVID-19. (File Pic)
Total global spending on Covid-19 vaccines is projected to reach $157 billion by 2025, driven by mass vaccination programs underway and booster shots expected every two years, according to a report by U.S. health data company IQVIA Holdings Inc (IQV.N) released on Thursday.
Reuters Reuters
30 April, 2021, 9:06 am
FILE PHOTO: Vials labelled AstraZeneca COVID-19 Coronavirus Vaccine and a syringe are seen in front of a displayed AstraZeneca logo in this illustration taken March 10, 2021. REUTERS/Dado Ruvic/Illustration
(Reuters) – Total global spending on COVID-19 vaccines is projected to reach $157 billion by 2025, driven by mass vaccination programs underway and “booster shots” expected every two years, according to a report by U.S. health data company IQVIA Holdings Inc released on Thursday.
IQVIA, which provides data and analytics for the healthcare industry, said it expects the first wave of COVID-19 vaccinations to reach about 70% of the world’s population by the end of 2022. Booster shots are likely to follow initial vaccinations every two years, the report said, based on current data on the duration of effect of the vaccines.