A new study has been published in BMJ Global Health which found that COVID-19 vaccination produced significant health and economic value, representing strong value for money. Researchers used regression analyses to measure the impact of COVID-19 vaccination on gross domestic product (GDP), infections and deaths, combining regression estimates of vaccine-averted infections and deaths with estimates of quality-adjusted life years (QALY) losses, and direct and indirect costs, to estimate three broad value components: (i) QALY gains, (ii) direct and indirect costs averted and (iii) GDP impacts. The global value is the sum of components over 148 countries between January 2020 and December 2021 for vaccination generally and for Pfizer-BioNTech specifically
The global value of COVID-19 vaccination was estimated at US$5.2 trillion, with Pfizer-BioNTech’s vaccines contributing over US$1.9 trillion. The largest value component was GDP impacts, followed by QALY gains, then direct and indirect costs averted. Vaccination provided US$740 of value per dose, with a conservative benefit-cost ratios of estimated at 13.9.
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