The healthcare expenditure by voluntary health insurance schemes in Belgium stood at 2.63 billion euros in 2023. Analyzing the historical data, we observed significant growth in the period from 2013 to 2019, marked by a high compound annual growth rate (CAGR). However, a downturn in expenditure occurred in 2020, attributed to the impacts of global disruptions. Despite a recovery phase in subsequent years, the overall growth has moderated, with a recent year-on-year increase of 2.49% in 2023 and a five-year CAGR of 1.62%.
Looking ahead, the forecast data from 2024 to 2028 indicates a steady yet modest increase, with a projected five-year CAGR of 1.8% and a cumulative growth rate of 9.31%. This suggests a gradual rise in healthcare expenditure through voluntary health insurance schemes in Belgium, albeit at a slower pace compared to earlier years.
Future trends to watch for include:
- The impact of technological advancements in healthcare services and their integration into insurance coverage.
- Policy changes and regulatory developments influencing the insurance sector.
- Shifts in consumer behavior towards preventive healthcare and wellness programs.
- Potential economic fluctuations affecting disposable incomes and insurance affordability.
