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. 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. read more Vaccine spending is expected to be highest this year at $54 billion with massive vaccination campaigns underway around the world. The spending forecast for COVID-19 vaccines represents 2 per cent of the roughly $7 trillion forecast for all prescription medicines during that time period, IQVIA said. Excluding the cost of COVID-19 vaccines, overall medicine spending is forecast to be $68 billion lower over the six years from 2020 to 2025 than it would have been without the pandemic, according to the report.

Source: Nigerian Tribune April 29, 2021 19:07 UTC