Cleveland, OH, July 10, 2019 — Global healthcare expenditures are projected to rise 3.7% annually in real (inflation-adjusted) US dollars through 2023, according to Global Healthcare, a report recently released by Freedonia Focus Reports. Spending will be driven by increasing access to a myriad of healthcare services in low and middle income countries and population growth, particularly in the cohort 65 years of age and older. In 2023, the Asia/Pacific region is projected to become the largest user of healthcare products and services, surpassing North America.
Developing economies will post the strongest growth in healthcare expenditures through 2023. Health expenditures in the Asia/Pacific region, for example, are forecast to increase nearly 6.0% per year, while gains in the Africa/Mideast region are projected to register at 4.3% per annum. Rising incomes in many of these countries will support advances in health expenditures.
These and other key insights are featured in Global Healthcare. This report forecasts to 2023 the following measures related to global healthcare:
- healthcare expenditures
- healthcare expenditures per capita
- healthcare expenditures as a share of GDP
- population and urban population
- population 50 years of age and older and population 65 years of age and older
Healthcare expenditures are measured in real (inflation-adjusted) US dollars.
Forecasts are also provided by region in terms of:
- North America
- Western Europe
- other regions, spanning Central and South America, Eastern Europe, and Africa/Mideast
In addition, for the three main regions, total and per capita healthcare expenditures and other relevant measures are forecast for the largest economies within that region.
To illustrate historical trends, global, region, and major country indicators are provided for 2008, 2013, and 2018.
More information about the report is available at: