Based on available data, the Government or Compulsory Health Expenditures in Canada stood at 7.82% of GDP in 2023. The forecast shows a gradual increase from 7.86% in 2024 to 8.02% in 2028. The year-on-year percentage variation for 2024-2025 is 0.51%, for 2025-2026 is 0.51%, for 2026-2027 is 0.50%, and for 2027-2028 is 0.50%. Over the past two years (2022-2024), the expenditure grew by 0.40%, maintaining a steady rise. The Compound Annual Growth Rate (CAGR) from 2023 to 2028 is approximately 0.50%.
Future trends to watch for include:
- The impact of an aging population on health expenditure.
- Potential policy changes influencing budget allocations to health services.
- Technological advancements affecting healthcare efficiency and costs.
