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Economic Burden of COVID-19: A Systematic Review
Fayolah Richards1, Petya Kodjamanova2, Xue Chen3
1Janssen Global Services, Raritan, NJ, USA.
Clinicoeconomics and Outcomes Research : CEOR
|May 5, 2022
Summary
The COVID-19 pandemic significantly increased healthcare costs, especially for severe cases requiring ICU and mechanical ventilation. Vaccination is crucial to mitigate economic losses from decreased productivity and GDP.
Area of Science:
- Public Health
- Health Economics
- Epidemiology
Background:
- The COVID-19 pandemic has imposed a substantial economic burden globally.
- Understanding this burden is critical for effective public health policy and resource allocation.
Purpose of the Study:
- To systematically review and synthesize evidence on the economic burden of COVID-19.
- To analyze healthcare resource utilization and associated costs.
Main Methods:
- Systematic review of studies from January 2020 to February 2021.
- Searches in major databases (EMBASE, MEDLINE) and manual searches for unpublished research.
- Independent data extraction and verification by two reviewers.
Main Results:
- 27 studies met inclusion criteria, indicating higher costs for severe COVID-19 cases.
- ICU admission and mechanical ventilation significantly increased costs ($2082.65–$2990.76).
- Productivity losses were the most frequent indirect cost; older patients incurred higher expenses. Estimated direct medical costs in the US reached $163.4 billion.
Conclusions:
- COVID-19 presents a considerable economic burden on individuals and society.
- Non-pharmaceutical interventions (NPIs) offer only partial economic relief.
- Large-scale vaccination is essential to reduce direct/indirect medical costs, productivity losses, and GDP decline.
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