Forecast: Medical and Other Health Care Services (Private) Value Added in Australia

The value added of private medical and other health care services in Australia has shown a consistent upward trend, increasing from AUD 33.35 billion in 2013 to AUD 62.12 billion in 2023. The year-on-year growth varied, with notable surges such as 13.08% in 2015 and 15.66% in 2022. The 5-year CAGR leading up to 2023 was 7.47%, reflecting a strong and steady expansion. Forecasts indicate continued growth, reaching AUD 84.24 billion by 2028, with a projected 5-year CAGR of 4.8%.

Key future trends to watch for include innovations in medical technology, increased demand for aged care services due to an aging population, and potential policy shifts impacting health care funding and private sector involvement.