World to spend $157bn on Covid-19 vaccines through 2025

Total global spending on Covid-19 vaccines is projected to reach $157bn by 2025, revealed the latest report by US health data company IQVIA Holdings released on Thursday.

IQVIA said it expects the first wave of Covid-19 vaccinations to reach about 70% of the world's population by the end of 2022. The report also factored in the booster shots that are likely to follow initial vaccinations every two years.

Vaccine spending is expected to be highest in 2021 at $54bn with massive vaccination campaigns around the world. It is expected to decrease after that, declining to $11bn in 2025.

The spending forecast for Covid-19 vaccines represents 2% of the forecast for all prescription medicines during that time period, IQVIA said.

Global medicine spending — the amount spent purchasing medicines from manufacturers before off-invoice discounts and rebates — is expected to reach $1.6 trillion by 2025, increasing at a rate of 3–6% per year.

Global market growth rates will return to pre-pandemic projections by 2025 despite year-to-year fluctuations, the report said.