COST-EFFECTIVENESS oF IMMUNIZATION Immunization is considered among the most cost-effective of health investments. There is a well-defined target group; contact with the health system is only needed at the time of delivery; and vaccination does not require any major change of lifestyle. A recent study estimated that if the coverage for the pneumococcal disease vaccine reached the levels of DTP3 coverage in Latin America and the Caribbean, it would prevent over half of all cases of the disease and about 9,500 deaths annually. This could be achieved at a cost of as low as 62 U.S. dollars per life saved. The cost of the immunizations is clearly compensated for by its life-saving value.