The share of private health expenditure in South Africa has shown a consistent decline from 52.08% in 2013 to 48.81% in 2023. The year-on-year reduction has been steady, averaging around -0.63% over the last decade. In the most recent two years, 2022 and 2023, the declines were -0.6% and -0.59%, respectively. The compound annual growth rate (CAGR) over the last five years was -0.61%, indicating a continuous downward trend.
Forecasted data suggests this declining trend will persist, with the share expected to decrease to 47.29% by 2028. The projected CAGR from 2024 to 2028 is -0.5%, with an overall five-year growth rate of -2.47%.
Future trends to watch for:
- Policy changes in government spending on public health.
- Shifts in demographics and disease burden affecting health finance needs.
- Economic factors influencing private sector investment in healthcare.
- Technological advances and their impact on healthcare costs.
