The share of out-of-pocket health expenditure in China has been on a steady decline from 2013 to 2023, reaching 64.9% in 2023. The year-on-year variations show a consistent decrease, with figures generally hovering around -1.3% to -1.4% since 2016. The compound annual growth rate (CAGR) of -1.35% over the past five years further substantiates this downward trend.
Key points:
- 2023 saw the share of out-of-pocket health expenditure reduced to 64.9%.
- Year-on-year decline rates remained stable, averaging around -1.3%.
- The 5-year CAGR was -1.35%, indicating a consistent reduction.
Looking ahead, the share is forecasted to continue decreasing, driven by policy changes and increasing public healthcare expenditure. The forecasted 5-year CAGR to 2028 is -1.15%, projecting the share to drop to 60.33% by then. Future trends to monitor include government healthcare reforms, the introduction of new public insurance schemes, and the impact of technological advancements in the healthcare sector.
