Government expenditures on medical products, appliances, and equipment in Australia were at $11.22 billion in 2023. The series shows forecasted expenditures rising from $11.33 billion in 2024 to $12.06 billion by 2028.
Year-on-year variations:
- 2024: +0.98% from 2023
- 2025: +1.68% from 2024
- 2026: +1.56% from 2025
- 2027: +1.54% from 2026
- 2028: +1.52% from 2027
The compound annual growth rate (CAGR) over the forecast period (2024-2028) is approximately 1.7% per year.
Future trends to watch for:
- Continued rise in healthcare spending due to aging population
- Technological advancements driving costs
- Policy changes and government initiatives impacting expenditure levels
