Forecast: Output of Healthcare in Australia

The output of healthcare in Australia has demonstrated a consistent growth trajectory from 2013 to 2023. In 2023, the output of healthcare stood at 150.02 billion Australian Dollars. The annual growth rates have generally trended upwards, with notable peaks such as a 9.94% increase in 2020. However, from 2021 to 2023, the growth rate fluctuated between 3.94% to 4.73%. The compounded annual growth rate (CAGR) over the past five years has remained stable, averaging around 5.44%.

Future trends to watch for:

• Increases in digital health innovations and telemedicine services
• Growing demand for aged care due to the aging population
• Government healthcare spending and policy changes
• Potential impacts of global health crises and pandemics