World Projected to Spend $157 Billion
on COVID-19 Vaccines by 2025.
On Thursday, IQVIA Holdings Inc released a report
detailing global spending on COVID-19 vaccines. .
According to the U.S. health data company, the world is
projected to spend a total of $157 billion by 2025. .
IQVIA says that number will be driven by mass
vaccination programs and booster shots. .
The first wave of COVID-19 vaccinations
is expected to reach 70 percent of the globe’s
population by the end of 2022. .
Booster shots are likely to be needed
every two years after initial vaccination. .
IQVIA expects global COVID-19 vaccine spending
to reach its highest in 2021 at a total of $54 billion. .
2025 will see spending at its lowest, $11 billion,
due to increased vaccine volume and competition. .
Excluding COVID-19 vaccine costs, IQVIA
forecasts overall medicine spending costs
between 2020 and 2025 to be $68 billion lower
than it would’ve been if not for the pandemic. .
This is due to pandemic-caused disruptions
to doctor visits, procedures and medicine use.