Total global spending on Covid-19 vaccines is projected to reach US$157 billion (RM644 billion) by 2025, driven by mass vaccination programmes 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 percent 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.

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...