Healthcare spending around the world is increasing, according to the Deloitte 2016 "Global healthcare outlook: Battling costs while improving care" report.
Here are seven key thoughts on healthcare spending around the world:
1. There is a shift toward delivering effective, efficient and equitable care which causes a shift in business clinical and operating models. The aging population and growing populations, chronic disease proliferation, focus on quality and value, evolving financial and quality regulations, informed consumers and innovative technologies are driving the change.
2. The healthcare spending across 60 countries the Economist Intelligence Unit covers rose 2.6 percent in nominal U.S. dollar terms in 2014. However, that number is expected to dip in 2015 due to the euro and U.S. dollar weakness.
3. Healthcare spending continues to vary greatly between developed and developing countries when considering healthcare spending on a Gross Domestic Product and per-capita basis, according to the World Health Organization.
4. The 2015 dip in healthcare spending is expected to be temporary and accelerate again this year. Spending growth is expected to top 4 percent in 2016, according to the report, and continue to rise more than 6 percent per year in 2017 and 2018.
5. Rapid growth in markets, led by Asia and the Middle East, will drive change as public and private healthcare systems develop in some countries. There is also a trend toward universal healthcare as a growth driver in many markets.
6. Pressure to reduce costs, increase efficiency and demonstrate value will "continue to intensify." As a result, the EIU projects global healthcare spending to jump 4.3 percent during 2015 to 2019, more slowly than it did during the recession. The average GDP is expected to decline from the forecasted 10.3 percent last year to 10.1 percent in 2019.
7. The per-capita healthcare spending for various countries around the world in 2013 based on data from the World Health include:
• United States: $9,146
• Netherlands: $6,145
• Australia: $5,827
• Canada: $5,718
• Germany: $5,006
• Japan: $3,966
• United Kingdom: $3,498
• Middle East—Saudi Arabia, United Arab Emrites, Qatar): $1,473
• Brazil: $1,083
• Mexico: $664
• China: $367
• India: $61