It seems likely that the mortality rate for COVID-19 is 1 to 2%.
Time to get picky...
The
mortality rate, as I understand it, is much lower than that. The mortality rate of something is the number of people likely to die in a given population over a given time. So the mortality rate of flu per year in the US might be seen to be c.80k deaths divided by 250m people etc. The mortality rate takes into consideration how pervasive the disease is as well. Ebola, for example, currently has a mortality rate of zero in the UK.
The 1 to 2% figure for COVID-19 is, it seems, the
case fertility rate (CFR), i.e. the chance of dying
if you have a confirmed case of the virus. However, even with that there is some question as to its accuracy or meaningfulness: if you have 100 initial cases, and 2 deaths so far, then the CFR would seem to be 2%. If a further 4 people die from this group then the CFR you would think would be 6%, but if in that time there have been another 200 cases, you have 6 deaths and 300 cases, so the CFR is back to 2%.
To understand the true CFR you really need to look at the number of people who are diagnosed with a case, those who have died, and those who have recovered (at least past the risk of death). If in those initial 100 cases you have 2 who have died, 48 who have recovered past the risk of death, and 50 still unknown, then a more accurate CFR would seem to be 2/(48+2) I.e. 4%. If the remaining 50 all recover, then the CFR would be 2% based on that group. If the remaining group all die, however, then you would have a 52% CFR based on this sample.
Then you have the IFR which is the fatality rate from those
infected, which needs to include the asymptomatic and those symptomatic cases not serious enough to have been confirmed as a case. And it is not known what the ratio of these is to confirmed cases. The IFR is going to be somewhat lower than the CFR for this coronavirus.
For diseases like Ebola I would imagine it to be unlikely that you will be infected and not have it registered as a case, so the IFR is probably the same as (or very close to) the CFR for that disease.
In Lebanon, for example, with its 6 million people, we might then expect 60,000 to 120,000 deaths, assuming that the entire population contracts the virus. Those deaths are very unlikely to happen all at once. They will be spread over time. The same applies in every other nation.
Well, if we knew everyone contracted the virus we would have better understanding of the asymptomatic infections, and those with mild symptoms that would not otherwise have been identified as a case. Thus we would have a better understanding of the IFR of the virus.
And if the CFR really is 2% then the IFR will likely be much less.
If you want a reasonable comparison to COVID-19, consider ordinary influenza. COVID-19 is likely, over time, to become another kind of "flu" that we will all have to deal with on a regular basis. Initially, though, there will be a lot of deaths because most people won't have any immunity.
If it is like ordinary influenza and mutates then you will not only have a lot of deaths initially, but each year that it mutates as well (assuming that it does). Given how many people die from a virus that has a CFR or c.0.1%, a similar virus, spread in the same manner, with a CFR of 2% will likely kill 20x as many people. This assumes that it is as contagious as ordinary flu, and that people don’t alter their habits for this higher risk virus.
I would like to think, though, that more people will take flu-shots if that is the case, more people will have an improved hygiene regimen for hand washing etc, and by looking to reduce the chances of picking up the coronavirus the population will also reduce the chance of picking up ordinary flu.
So who knows, it may be that the overall mortality rate of this and the flu combined remains the same, only we’re needing to be more vigilant and hygiene conscious etc.