Household expenditure on medical products in the US is forecasted to rise steadily over the next five years. Expenditures are expected to grow from $731.84 billion in 2024 to $874.88 billion by 2028. This indicates a year-on-year growth rate of 4.96% from 2024 to 2025, 4.68% from 2025 to 2026, 4.42% from 2026 to 2027, and 4.19% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is expected to be approximately 4.56%.
Future trends to watch for include advancements in medical technology, demographic shifts contributing to increased healthcare needs, inflationary pressures, and rising demand for health and wellness products. These factors are likely to influence household medical expenditures significantly. Monitoring policy changes and healthcare reforms will also be crucial in predicting future expenditure patterns.