Forecast: Out-of-Pocket Health Expenditures in South Korea

Analysis of out-of-pocket health expenditures in South Korea reveals that the expenditure expressed in units of GDP saw a general upward trend from 2013 to 2023, peaking at 2.48 in 2028. Specifically, the data shows a stable increment with minor fluctuations over the years. The Compound Annual Growth Rate (CAGR) from 2013 to 2023 averaged around 1.64%, indicating a steady growth pattern. Recent years saw a stabilization trend, with only a slight increase from 2.46 in 2022 to 2.47 in 2023, marking a marginal year-on-year variation of 0.16%. The forecasted data from 2024 to 2028 indicates minimal change, with a forecasted 5-year CAGR of just 0.06%.

Future trends to watch for include:

• A potential stabilization in out-of-pocket expenditures relative to GDP, suggesting a plateau in growth.
• Impact of potential policy changes aimed at reducing personal healthcare costs.
• Technological advancements and telemedicine that could influence the cost dynamics.