Forecast: Household Expenditure on Health in India

In 2023, household expenditure on health in India stood at an actual value of approximately 442.5 thousand crores. From 2024 to 2028, the forecast shows a consistent increase in household spending on health, with value projections reaching 513.35 thousand crores by 2028. Year-on-year growth remains steady, around 3%-4% annually. Over this five-year period, the Compound Annual Growth Rate (CAGR) is approximately 3.7%, indicating a steady incline in health expenditures.

Future trends to watch for:

  • Impact of government healthcare schemes on household spending.
  • Changes in health insurance penetration influencing out-of-pocket expenses.
  • Economic factors affecting disposable income and healthcare affordability.

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