In 2023, US health expenditure stood at 18.43% of GDP. Over the past decade, health expenditure displayed a moderate but consistent increase. From 2013 to 2023, year-on-year variations averaged around 0.8%, while the compound annual growth rate (CAGR) gradually diminished, aligning at 0.75% for the five years leading up to 2023.

Forecasts from 2024 to 2028 show a continued rise in health expenditure, reaching 19.04% of GDP by 2028. The forecasted five-year CAGR is 0.52%, with a total five-year growth rate of 2.62%, indicating a deceleration in the growth trend compared to the past decade.

Future trends to watch for:

The impact of technological advancements and policy changes on health expenditure.
Potential cost-saving measures and efficiency improvements in healthcare delivery.
Demographic shifts, particularly aging populations, affecting healthcare demand and spending.
Effects of inflation and economic fluctuations on healthcare costs.