The share of private health expenditure in Singapore has exhibited a consistent downward trend from 2013 through 2023, decreasing from 61.65 to 56.09 in unit value. This represents an overall decline marked by year-on-year reductions averaging around -0.63% in recent years.
Over the last two years, the annual decrease has been approximately -0.63%, and the compound annual growth rate (CAGR) over the past five years stands at -0.65%. Forecasts indicate this decline will continue, with the projected value for 2028 at 54.24, reflecting a forecasted five-year CAGR of -0.53% and a total expected reduction of -2.63% from 2024 to 2028.
Future trends to watch for include potential impacts of policy changes or public health initiatives that may alter the balance of public vs. private health expenditure. Additionally, shifts in demographic factors and healthcare needs may also influence the trajectory of private health spending.