Forecast: Health Expenditure in Saudi Arabia

Health expenditure in Saudi Arabia has shown a steady but modest increase from 2013 to 2023, with the expenditure rising from 4.25% of GDP in 2013 to 5.29% in 2023. The year-on-year growth rates indicate a gradual deceleration in the rate of increase, peaking at 10.33% in 2014 and declining to 1.5% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years stands at 1.61%, showing a consistent but slower growth rate.

From 2024 onwards, forecasts indicate that health expenditure is expected to continue rising, reaching 5.66% of GDP by 2028. Over the forecast period, the CAGR is anticipated to be 1.06%, reflecting a continued but decelerating growth trajectory.

Future trends to watch for include:

- Potential policy changes in Saudi Arabia aimed at improving healthcare infrastructure and services.

- Economic conditions which could impact the overall budget allocation for health expenditure.

- Technological advancements in healthcare which may drive changes in spending patterns.

- Population growth and demographic changes that could influence future healthcare needs and expenditures.