The healthcare expenditure on residential long-term care facilities in Spain has shown a steady increase from 2013 to 2023, reaching 6.89 billion Euros in 2023. The year-on-year variations suggest a consistent upward trend, with significant increases observed particularly in 2015 (7.24%) and 2019 (4.74%). Over the last two years, the year-on-year growth has been modest at approximately 2.57%, and over the last five years, the compound annual growth rate (CAGR) stood at 2.83%.
For the forecasted period from 2024 to 2028, the CAGR is expected to be 1.82%, indicating a continued but slightly slower pace of growth, culminating in a projected total growth rate of 9.43% over five years. This suggests stable investment in this sector, albeit at a marginally reduced acceleration compared to previous years.
Future trends to watch for include:
- Increasing demand for elderly care due to Spain’s aging population.
- Potential government policy changes impacting funding and regulation of long-term care facilities.
- Technological advancements and their integration into care facilities, improving efficiency and quality of care.
