Editing Vaccination (section)

== Economics of vaccination ==
Health is often used as one of the metrics for determining the economic prosperity of a country. This is because healthier individuals are generally better suited to contributing to the economic development of a country than the sick.<ref name="ReferenceA">{{cite journal | vauthors = Quilici S, Smith R, Signorelli C | title = Role of vaccination in economic growth | journal = Journal of Market Access & Health Policy | volume = 3 | pages = 27044 | date = 12 August 2015 | pmid = 27123174 | pmc = 4802686 | doi = 10.3402/jmahp.v3.27044 }}</ref> There are many reasons for this. For instance, a person who is vaccinated for influenza not only protects themselves from the risk of [[influenza]], but simultaneously also prevents themselves from infecting those around them.<ref name="InstituteMedicine-2003">{{Cite book|date=10 December 2003|title=Financing Vaccines in the 21st Century|url=https://www.nap.edu/read/10782/chapter/2#10|doi=10.17226/10782|pmid=25057673|isbn=978-0-309-08979-1|author1=Institute of Medicine|author2=Board on Health Care Services|author3=Committee on the Evaluation of Vaccine Purchase Financing in the United States|access-date=6 February 2019|archive-date=20 March 2022|archive-url=https://web.archive.org/web/20220320141817/https://www.nap.edu/read/10782/chapter/2#10|url-status=live}}</ref> This leads to a healthier society, which allows individuals to be more economically productive. Children are consequently able to attend school more often and have been shown to do better academically. Similarly, adults are able to work more often, more efficiently, and more effectively.<ref name="ReferenceA"/><ref>{{Cite news|url=https://econlife.com/2015/02/economic-positive-externalities-of-vaccination/|title=The Economic Side of Vaccines' Positive Externalities|date=24 February 2015|work=Econlife|access-date=7 September 2018|archive-date=8 September 2018|archive-url=https://web.archive.org/web/20180908094224/https://econlife.com/2015/02/economic-positive-externalities-of-vaccination/|url-status=live}}</ref>

=== Costs and benefits ===

On the whole, vaccinations induce a net benefit to society. Vaccines are often noted for their high [[Return on investment]] (ROI) values, especially when considering the long-term effects.<ref>{{cite journal | vauthors = Carroll S, Rojas AJ, Glenngård AH, Marin C | title = Vaccination: short- to long-term benefits from investment | journal = Journal of Market Access & Health Policy | volume = 3 | pages = 27279 | date = 12 August 2015 | pmid = 27123171 | pmc = 4802682 | doi = 10.3402/jmahp.v3.27279 }}</ref> Some vaccines have much higher ROI values than others. Studies have shown that the ratios of vaccination benefits to costs can differ substantially—from 27:1 for diphtheria/pertussis, to 13.5:1 for measles, 4.76:1 for varicella, and 0.68–1.1: 1 for pneumococcal conjugate.<ref name="InstituteMedicine-2003" /> Some governments choose to subsidize the costs of vaccines, due to some of the high ROI values attributed to vaccinations. The United States subsidizes over half of all vaccines for children, which costs between $400 and $600 each. Although most children do get vaccinated, the adult population of the US is still below the recommended immunization levels. Many factors can be attributed to this issue. Many adults who have other health conditions are unable to be safely immunized, whereas others opt not to be immunized for the sake of private financial benefits. Many Americans are underinsured, and, as such, are required to pay for vaccines out-of-pocket. Others are responsible for paying high deductibles and co-pays. Although vaccinations usually induce long-term economic benefits, many governments struggle to pay the high short-term costs associated with labor and production. Consequently, many countries neglect to provide such services.<ref name="InstituteMedicine-2003" />

According to a 2021 paper, vaccinations against [[Haemophilus influenzae|haemophilus influenzae type b]], [[hepatitis B]], [[Human papillomavirus infection|human papillomavirus]], [[Japanese encephalitis]], [[measles]], [[Neisseria meningitidis|neisseria meningitidis serogroup A]], [[rotavirus]], [[rubella]], [[streptococcus pneumoniae]], and [[yellow fever]] have prevented an estimated 50 million deaths from 2000 to 2019.<ref name="Toor-2021">{{Cite journal|last1=Toor|first1=Jaspreet|last2=Echeverria-Londono|first2=Susy|last3=Li|first3=Xiang|last4=Abbas|first4=Kaja|last5=Carter|first5=Emily D|last6=Clapham|first6=Hannah E|last7=Clark|first7=Andrew|last8=de Villiers|first8=Margaret J|last9=Eilertson|first9=Kirsten|last10=Ferrari|first10=Matthew|last11=Gamkrelidze|first11=Ivane|date=13 July 2021|editor-last=Stanley|editor-first=Margaret|editor2-last=Harper|editor2-first=Diane M|editor3-last=Soldan|editor3-first=Kate|title=Lives saved with vaccination for 10 pathogens across 112 countries in a pre-COVID-19 world|journal=[[eLife]]|volume=10|pages=e67635|doi=10.7554/eLife.67635|pmid=34253291 |pmc=8277373 |issn=2050-084X |doi-access=free }}</ref> The paper "represents the largest assessment of vaccine impact before COVID-19-related disruptions".<ref name="Toor-2021" /> According to a June 2022 study, [[COVID-19 vaccine|COVID{{nbhyph}}19 vaccinations]] prevented an additional 14.4 to 19.8 million deaths in 185 countries and territories from 8 December 2020 to 8 December 2021.<ref>{{Cite journal |vauthors=Watson OJ, Barnsley G, Toor J, Hogan AB, Winskill P, Ghani AC |date=June 2022 |title=Global impact of the first year of COVID-19 vaccination: a mathematical modelling study |journal=[[The Lancet Infectious Diseases]] |volume=22 |issue=9 |pages=1293–1302 |doi=10.1016/s1473-3099(22)00320-6 |pmc=9225255 |pmid=35753318 |doi-access=free |title-link=doi}}</ref><ref>{{Cite web |date=24 June 2022 |title=COVID-19 vaccines saved nearly 20 million lives in a year, study says |url=https://www.cbsnews.com/news/covid-19-vaccine-saved-nearly-20-million-lives-in-a-year-study-says/ |url-status=live |archive-url=https://web.archive.org/web/20220629025146/https://www.cbsnews.com/news/covid-19-vaccine-saved-nearly-20-million-lives-in-a-year-study-says/ |archive-date=29 June 2022 |access-date=27 June 2022 |website=[[CBS News]]}}</ref>

They estimated that it would cost between $2.8&nbsp;billion and $3.7&nbsp;billion to develop at least one vaccine for each of them. This should be set against the potential cost of an outbreak. The 2003 SARS outbreak in East Asia cost $54&nbsp;billion.<ref>{{cite news |title=Scientists have estimated the cost of stopping 11 diseases that could kill millions in a pandemic |url=https://www.vox.com/future-perfect/2018/10/22/17999676/vaccine-ebola-pandemic-disease-zika-epidemic-sars |access-date=2 December 2018 |publisher=Vox |date=22 October 2018 |archive-date=6 November 2018 |archive-url=https://web.archive.org/web/20181106173404/https://www.vox.com/future-perfect/2018/10/22/17999676/vaccine-ebola-pandemic-disease-zika-epidemic-sars |url-status=live }}</ref>

[[Game theory]] uses [[Utility|utility functions]] to model costs and benefits, which may include financial and non-financial costs and benefits. In recent years, it has been argued that game theory can effectively be used to model vaccine uptake in societies. Researchers have used game theory for this purpose to analyse vaccination uptake in the context of diseases such as influenza and measles.<ref>{{cite journal | vauthors = Chang SL, Piraveenan M, Pattison P, Prokopenko M | title = Game theoretic modelling of infectious disease dynamics and intervention methods: a review | journal = Journal of Biological Dynamics | volume = 14 | issue = 1 | pages = 57–89 | date = December 2020 | pmid = 31996099 | doi = 10.1080/17513758.2020.1720322 | s2cid = 58004680 | arxiv = 1901.04143 | bibcode = 2020JBioD..14...57C }}</ref>