Forecast: Share of Out-of-Pocket Health Expenditure in Canada

The share of out-of-pocket health expenditure in Canada is projected to decline gradually over the next five years, starting from 43.9% in 2024 and reaching 42.79% by 2028. This represents a year-on-year decrease, illustrating a consistent downward trend in the proportion of private health spending borne directly by consumers. The compound annual growth rate (CAGR) over these five years indicates a modest reduction in out-of-pocket expenses, suggesting a shift towards alternative funding sources or more comprehensive insurance coverage.

Future trends to watch for:

• Potential policy changes affecting healthcare funding and reimbursement structures.
• Technological advancements reducing healthcare costs and contributing to decreased out-of-pocket spending.
• Economic factors and inflation rates impacting disposable incomes and health expenditure priorities.