Forecast: Output of Healthcare in the US

The US healthcare output has shown consistent growth over the past decade, increasing from $1.6077 trillion in 2013 to $2.3666 trillion in 2023. Though there was a slight decline in 2020 due to the pandemic, the sector rebounded strongly in 2021 with a 9.03% year-on-year increase. The compounded annual growth rate (CAGR) over the last five years (2019-2023) stands at 3.17%, reflecting steady growth despite minor fluctuations.

For the future, the healthcare output is forecasted to reach $2.7158 trillion by 2028, indicating a forecasted 5-year CAGR of 2.18% and an overall 11.4% growth rate from 2024.

Future trends to watch for include increased integration of technology such as telemedicine, AI in diagnostics, and value-based care models aimed at improving healthcare efficiency and outcomes.