In 2023, Japan's government expenditures on medical products, appliances, and equipment stood at 72.58 billion US Dollars PPP. From 2024 onwards, the expenditures are forecasted to grow, reaching 73.66 billion in 2024, 74.72 billion in 2025, 75.76 billion in 2026, and 76.78 billion in 2027. The year-on-year variation shows a consistent growth pattern: 2024 sees a 1.49% increase from 2023, 2025 a 1.44% increase from 2024, 2026 a 1.39% increase from 2025, and 2027 a 1.34% increase from 2026. The Compound Annual Growth Rate (CAGR) over the five-year period from 2023 to 2027 is approximately 1.41%.
Future trends to watch for:
- Ongoing technological advancements in medical equipment may drive higher expenditures.
- Aging population will likely increase demand for medical appliances.
- Government policies focused on healthcare innovation and improvements could impact spending patterns.
- Global economic conditions and inflation rates may also affect future budget allocations.