Among OECD member countries, the United States had the highest percentage of gross domestic product spent on health care as of 2023. The U.S. spent nearly ** percent of its GDP on health care services. Germany, France and Japan followed the U.S. with distinctly smaller percentages. The United States had both significantly higher private and public spending on health compared with other developed countries. Why compare OECD countries?OECD stands for Organization for Economic Co-operation and Development. It is an economic organization consisting of ** members, mostly high-income countries and committed to democratic principles and market economy. This makes OECD statistics more comparable than statistics of developed and undeveloped countries. Health economics is an important matter for the OECD, even more since increasing health costs and an aging population have become an issue for many developed countries. Health costs in the U.S. A higher GDP share spent on health care does not automatically lead to a better functioning health system. In the case of the U.S., high spending is mainly because of higher costs and prices, not due to higher utilization. For example, physicians’ salaries are much higher in the U.S. than in other comparable countries. A doctor in the U.S. earns almost twice as much as the average physician in Germany. Pharmaceutical spending per capita is also distinctly higher in the United States. Furthermore, the U.S. also spends more on health administrative costs compare to other wealthy countries.
In 2023, the United States had the highest per capita health expenditure among OECD countries. At that time, per capita health expenditure in the U.S. amounted over ****** U.S. dollars, significantly higher than in Switzerland, the country with the second-highest per capita health expenditure. Norway, Germany and Austria are also within the top five countries with the highest per capita health expenditure. The United States also spent the highest share of it’s gross domestic product on health care, with **** percent of its GDP spent on health care services. Health Expenditure in the U.S. The United States is the highest spending country worldwide when it comes to health care. In 2022, total health expenditure in the U.S. exceeded **** trillion dollars. Expenditure as a percentage of GDP is projected to increase to approximately ** percent by the year 2031. Distribution of Health Expenditure in the U.S. Health expenditure in the United States is spread out across multiple categories such as nursing home facilities, home health care, and prescription drugs. As of 2022, the majority of health expenditure in the United States was spent on hospital care, accounting for a bit less than *** third of all health spending. Hospital care was followed by spending on physician and clinical services which accounted for ** percent of overall health expenditure.
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United States NHE: Investment data was reported at 167.621 USD bn in 2017. This records an increase from the previous number of 158.169 USD bn for 2016. United States NHE: Investment data is updated yearly, averaging 40.641 USD bn from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 167.621 USD bn in 2017 and a record low of 2.508 USD bn in 1960. United States NHE: Investment data remains active status in CEIC and is reported by Centers for Medicare & Medicaid Services . The data is categorized under Global Database’s United States – Table US.G084: National Health Expenditures.
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The Asia-Pacific (APAC) healthcare IT market is experiencing robust growth, driven by increasing government investments in healthcare infrastructure, rising adoption of electronic health records (EHRs), and a burgeoning demand for telehealth solutions. The region's large and rapidly aging population, coupled with increasing prevalence of chronic diseases, fuels the need for efficient and accessible healthcare services, significantly boosting the demand for sophisticated IT solutions. Key segments within APAC exhibiting strong growth include Radiology Information Systems (RIS), Laboratory Information Systems (LIS), and Clinical Decision Support Systems (CDSS). India and China are leading the market, propelled by expanding healthcare IT infrastructure development and government initiatives promoting digital healthcare transformation. However, challenges remain, including a lack of digital literacy in certain regions, interoperability issues between different healthcare systems, and data security concerns. Despite these challenges, the market's positive trajectory is expected to continue, with a projected CAGR exceeding the global average due to significant investments in digital health infrastructure and increasing private sector participation. The growth is further accelerated by the increasing adoption of cloud-based solutions, improving affordability, and enhancing scalability and accessibility. This creates opportunities for both established global players and local companies catering to the specific needs of the diverse APAC region. Furthermore, the focus on value-based care and the growing use of AI and machine learning in healthcare are also impacting the market's growth and direction. The forecast period (2025-2033) promises even more significant growth for the APAC healthcare IT market. This expansion will be driven by continued technological advancements, increased government support for digital healthcare, and a rising middle class with greater access to and demand for better healthcare services. Specific opportunities exist in areas such as improving interoperability between various systems, enhancing cybersecurity measures, and expanding telehealth capabilities to underserved populations. This will require collaborations between government bodies, private healthcare providers, and technology companies to ensure a well-integrated and secure healthcare ecosystem across the diverse landscapes of APAC. The market's success will depend on addressing the challenges while capitalizing on the region's unique growth opportunities. Recent developments include: August 2022: Intellect, Asia Pacific's mental health technology company, declared its official launch in Japan as part of its regional expansion plans. Intellect's launch in Japan is heavily backed by some of Japan's most prominent venture capital investors, including JAFCO Asia, Headline Asia, DG Daiwa Ventures, and some of the largest Japanese conglomerates, PERSOL Holdings, and MS&AD Ventures., February 2022: The Indian government announced two new projects to promote digital health for its citizens as it continues to battle the ongoing COVID-19 pandemic. The government would launch an open platform connecting the country's digital health ecosystem under the Ayushman Bharat Digital Health Mission (ABDM). The platform would include digital registries of health providers and facilities, unique health identities, a consent framework, and universal access to health facilities.. Key drivers for this market are: Supportive government policies and introduction of FDI in major countries to aid adoption, Growing pressure on the healthcare infrastructure in the region due to high population coupled with the need to reduce expenditure; Emergence of Singapore and other SEA countries as a hub in medical IT sector backed by the strong investment activity and higher propensity to adopt digital transformation practices5.1.4 key global cues such as patient-based & on-demand healthcare delivery & continuous monitoring expected to drive adoption in Asia; Early adopters such as Japan and China continue to record steady growth due to demographic and economic conditions. Potential restraints include: Supportive government policies and introduction of FDI in major countries to aid adoption, Growing pressure on the healthcare infrastructure in the region due to high population coupled with the need to reduce expenditure; Emergence of Singapore and other SEA countries as a hub in medical IT sector backed by the strong investment activity and higher propensity to adopt digital transformation practices5.1.4 key global cues such as patient-based & on-demand healthcare delivery & continuous monitoring expected to drive adoption in Asia; Early adopters such as Japan and China continue to record steady growth due to demographic and economic conditions. Notable trends are: Patient Based Systems (Remote Healthcare, Wearables etc.) is Expected to Hold the Largest Market Share.
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According to Cognitive Market Research, the global Household Healthcare market size will be USD 251512.3 million in 2024 and will expand at a compound annual growth rate (CAGR) of 8.00% from 2024 to 2031.
North America held the major market share of more than 40% of the global revenue, with a market size of USD 100604.92 million in 2024. The market will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 75453.69 million.
Asia Pacific held a market share of around 23% of global revenue, with a market size of USD 57847.83 million in 2024, and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.
Latin America's Market will have more than 5% of the global revenue with a market size of USD 12575.62 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.
The Middle East and Africa held the major market share of around 2% of the global revenue, with a market size of USD 5030.25 million in 2024. The market will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.
Cancer held the highest Household Healthcare market revenue share in 2024.
Market Dynamics of Household Healthcare Market
Key Drivers of Household Healthcare Market
Rising Disposable Income to Provide Viable Market Output
The rise in disposable income is creating a significant increase in global demand. With more disposable income at their disposal, individuals and families are increasingly inclined to invest in healthcare products and services to maintain and enhance their well-being. This trend encourages higher spending on health-related items such as medications, medical devices, wellness programs, and health insurance. Moreover, increased disposable income enables households to afford more expensive healthcare procedures and treatments, leading to higher demand for advanced medical technologies and specialized healthcare services. Overall, the growth in disposable income fosters greater accessibility and affordability of healthcare, driving expansion in the household healthcare market.
For instance, Apollo Homecare offers long-term plans for various diseases, such as ortho rehab, heart rehab, lung rehab, mother-and-baby care, and elderly care. It includes medical supervision and personalized healthcare services.
(Source: https://apollohomecare.com/)
Rising elderly population to Propel Market Growth.
The rise in the elderly population aims to provide growth in the Market. As people age, they often require more frequent and specialized medical attention, leading to increased demand for home healthcare products and services. This demographic shift has prompted innovations in medical technology, such as remote monitoring devices and wearable health trackers, to support aging individuals in managing their health at home. Additionally, the desire for independence and comfort among the elderly population further fuels the demand for household healthcare solutions, ranging from mobility aids to home care services, driving growth and investment in this sector.
For instance, according to the UN Department of Economic and Social Affairs, the number of people over 65 worldwide is expected to increase from 771 million in 2022 to 1.6 billion by 2050. Furthermore, it is projected that the number of individuals 80 years of age and above will triple by 2050 compared to the current figure of 143 million in 2019.
(Source: https://desapublications.un.org/file/989/download)
Restraint Factors Of Household Healthcare Market
High costs of products to Restrict Market Growth
The household healthcare market faces challenges due to the high cost of products. Affordability becomes a crucial issue for consumers, limiting their access to essential healthcare solutions within their homes. From medical devices to specialized equipment and even everyday healthcare products, the steep price tags deter many potential users from purchasing or accessing these items. The financial burden often outweighs the perceived benefits, leading to decreased adoption rates and utilization of household healthcare products. This barrier impedes the market's growth and hampers efforts to improve healthcare accessibility and convenience for individuals and families within their own homes.
Impact of COVID-19 on the Household Heal...
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United States NHE: Investment: Research data was reported at 47.670 USD bn in 2016. This records an increase from the previous number of 46.451 USD bn for 2015. United States NHE: Investment: Research data is updated yearly, averaging 10.836 USD bn from Dec 1960 (Median) to 2016, with 57 observations. The data reached an all-time high of 49.658 USD bn in 2011 and a record low of 694.000 USD mn in 1960. United States NHE: Investment: Research data remains active status in CEIC and is reported by Centers for Medicare & Medicaid Services . The data is categorized under Global Database’s USA – Table US.G083: National Health Expenditures.
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According to Cognitive Market Research, the global Healthcare information systems market size will be USD 462814.5 million in 2025. It will expand at a compound annual growth rate (CAGR) of 14.00% from 2025 to 2033.
North America held the major market share for more than 40% of the global revenue with a market size of USD 171241.37 million in 2025 and will grow at a compound annual growth rate (CAGR) of 12.4% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 134216.21 million.
APAC held a market share of around 23% of the global revenue with a market size of USD 111075.48 million in 2025 and will grow at a compound annual growth rate (CAGR) of 16.9% from 2025 to 2033.
South America has a market share of more than 5% of the global revenue with a market size of USD 17586.95 million in 2025 and will grow at a compound annual growth rate (CAGR) of 14.7% from 2025 to 2033.
Middle East had a market share of around 2% of the global revenue and was estimated at a market size of USD 18512.58 million in 2025 and will grow at a compound annual growth rate (CAGR) of 15.4% from 2025 to 2033.
Africa had a market share of around 1% of the global revenue and was estimated at a market size of USD 10181.92 million in 2025 and will grow at a compound annual growth rate (CAGR) of 14.3% from 2025 to 2033.
Diagnostic centers are expected to be the fastest-growing segment during the forecast period
Market Dynamics of Healthcare Information Systems Market
Key Drivers for Healthcare Information Systems Market
The surge in digital healthcare infrastructure fuels growth in the healthcare information systems market
The growing use of digital healthcare infrastructure is expected to drive the healthcare information systems Market in the coming years. Digital healthcare infrastructure refers to digital technologies in the healthcare market that aim to provide higher-quality medical services, such as real-time monitoring of medical data via wearable medical devices. Using digital healthcare infrastructure in hospitals improves patient monitoring. For instance, in February 2023, according to Rock Health, a UK-based corporation, in our 2022 survey, 80% of respondents indicated that they had used telemedicine at some point in their lives, up eight percentage points from 72% in 2021. While the use of live video telemedicine remained consistent in 2022, with only a one percentage point increase over 2021. As a result, the growing use of digital healthcare infrastructure fuels the growth of the healthcare information systems Market.
Rising Awareness of EMR to Drive Growth in the Healthcare Information Systems Market
Increasing awareness of the importance of EMR is expected to drive the healthcare information systems market during the forecast period. An electronic medical record (EMR) is a patient record created by healthcare professionals for meetings in hospitals and outpatient facilities. The global electronic medical records (EMR) market is expected to grow due to the benefits that EMR can provide in terms of security measures, as well as improving the accuracy and completeness of patient records. For instance, according to GOV.UK, by December 2023, 90% of NHS trusts will have electronic health records in place, with a goal of 100% implementation by March 2025. As a result, rising awareness of the importance of EMR is driving the growth of the healthcare information systems market
Restraint Factor for the Healthcare Information Systems Market
High Cost of deployment Will Limit Market Growth
High deployment costs are a major barrier to growth in the healthcare information systems market. They require significant investment in technology, infrastructure, and training, which can be prohibitively expensive for the majority of healthcare providers, particularly in developing countries. Smaller practices and facilities cannot afford to budget for such costs, thus adoption is delayed. Furthermore, frequent maintenance and updates increase costs, making it difficult for organisations to justify their initial investment. Such a cost factor may discourage users from adopting improved healthcare information systems, slowing market growth. As a result, addressing such cost-related issues is critical to promoting wider adoption and impr...
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United States NHE: Total Excl Investment data was reported at 3,179.830 USD bn in 2016. This records an increase from the previous number of 3,047.118 USD bn for 2015. United States NHE: Total Excl Investment data is updated yearly, averaging 540.513 USD bn from Dec 1960 (Median) to 2016, with 57 observations. The data reached an all-time high of 3,179.830 USD bn in 2016 and a record low of 24.706 USD bn in 1960. United States NHE: Total Excl Investment data remains active status in CEIC and is reported by Centers for Medicare & Medicaid Services . The data is categorized under Global Database’s USA – Table US.G083: National Health Expenditures.
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Data presented are rounded.ⱡ Excludes cost of incremental global R&D, which is estimated at $3B annually.Annual incremental costs of the grand convergence investment case in lower-middle-income countriesⱡ.
The global total consumer spending on healthcare in was forecast to continuously increase between 2024 and 2029 by in total 1.7 trillion U.S. dollars (+26.36 percent). After the ninth consecutive increasing year, the healthcare-related spending is estimated to reach 8.1 trillion U.S. dollars and therefore a new peak in 2029. Consumer spending, in this case healthcare-related spending, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). The shown data adheres broadly to group 06. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.Find more key insights for the total consumer spending on healthcare in countries like Australia & Oceania and Asia.
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China Outward Investment: United States: Health Care and Social Work data was reported at 13.950 USD mn in 2017. This records a decrease from the previous number of 17.170 USD mn for 2016. China Outward Investment: United States: Health Care and Social Work data is updated yearly, averaging 13.950 USD mn from Dec 2012 (Median) to 2017, with 3 observations. The data reached an all-time high of 17.170 USD mn in 2016 and a record low of 0.000 USD mn in 2012. China Outward Investment: United States: Health Care and Social Work data remains active status in CEIC and is reported by Ministry of Commerce. The data is categorized under China Premium Database’s Investment – Table CN.OB: Outward Direct Investment: United States by Industry.
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The global Computerized Physician Order Entry (CPOE) market is projected to witness a significant growth trajectory, with its market size estimated at USD 1.56 billion in 2023 and expected to reach USD 3.45 billion by 2032, growing at a compound annual growth rate (CAGR) of 9.1%. This robust growth can be attributed to technological advancements in healthcare IT, increasing demand for precision in medical order management, and stringent regulatory mandates aimed at reducing medical errors. The adoption of CPOE systems has been accelerated by the push towards digital healthcare records and the need for cost-efficient, error-free clinical processes. Moreover, the impetus provided by global health initiatives for improved patient safety and care quality has further propelled the market forward, creating a fertile ground for innovation and investment.
One of the primary growth factors for the CPOE market is the rising awareness and emphasis on minimizing medication errors. As healthcare systems worldwide strive to enhance patient safety, CPOE systems have emerged as a critical tool in achieving this objective by ensuring that orders are accurately relayed from physicians to providers. This has been particularly important in reducing errors associated with handwriting misinterpretations and manual transcriptions. With an increase in healthcare-associated costs due to preventable errors, both private and government healthcare bodies are increasingly investing in CPOE solutions. Additionally, the integration of CPOE systems with Electronic Health Records (EHRs) and other hospital information systems facilitates seamless data exchange and interoperability, which is a significant driving factor for market growth.
Another key factor contributing to the growth of the CPOE market is the widespread implementation of healthcare reforms and policies that advocate for technology-driven care. Governments around the world are incentivizing the adoption of advanced healthcare IT systems, including CPOE, to enhance the efficiency and quality of healthcare services. This is coupled with the increasing inclination of healthcare providers towards adopting cloud-based solutions, which offer cost-effective alternatives with scalable architectures. The cloud deployment model not only reduces the burden of upfront infrastructural investment but also provides enhanced security and compliance with healthcare standards. As healthcare institutions continue to face challenges associated with data management and patient care coordination, the adoption of CPOE systems is expected to escalate.
The growing prevalence of chronic diseases and the resultant surge in hospital admissions also serve as a catalyst for CPOE market expansion. Hospitals and long-term care facilities are increasingly relying on CPOE systems to manage large volumes of patient data and streamline clinical workflows. The ability to swiftly process and execute clinical orders enhances the operational efficiency of healthcare facilities, thereby reducing the average length of hospital stays and improving patient throughput. Furthermore, the integration of advanced analytics and decision support tools within CPOE systems aids clinicians in making informed decisions, thereby enhancing the overall quality of care. The continuous rise in healthcare expenditure and the pursuit of improved health outcomes provide a robust foundation for the sustained growth of the CPOE market.
Regionally, the North American market continues to dominate the CPOE landscape, driven by a well-established healthcare IT infrastructure, favorable regulations, and significant investments in technological advancements. Europe follows closely, with countries like Germany, France, and the UK making strides in healthcare digitization. The Asia Pacific region is anticipated to register the highest CAGR during the forecast period due to the burgeoning healthcare sector, increasing government initiatives for digital health adoption, and rising investments in healthcare infrastructure. As global health systems navigate the complexities of digital transformation, the adoption of CPOE systems in Latin America, the Middle East, and Africa is projected to gain momentum, albeit at a gradual pace, as these regions work towards overcoming infrastructural and financial challenges.
The CPOE market is segmented by component into software, hardware, and services. Each of these components plays a critical role in the deployment and functionality of CPOE systems, with software leading the charge in terms of market share. Software solutions form the
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United States NHE: Investment: Structures & Equipment data was reported at 109.748 USD bn in 2016. This records an increase from the previous number of 107.247 USD bn for 2015. United States NHE: Investment: Structures & Equipment data is updated yearly, averaging 27.929 USD bn from Dec 1960 (Median) to 2016, with 57 observations. The data reached an all-time high of 109.748 USD bn in 2016 and a record low of 1.814 USD bn in 1960. United States NHE: Investment: Structures & Equipment data remains active status in CEIC and is reported by Centers for Medicare & Medicaid Services . The data is categorized under Global Database’s USA – Table US.G083: National Health Expenditures.
In 2021, funding by investors in the digital health industry amounted to almost ** billion U.S. dollars, this was double the preceding year and by far the largest amount since 2010. In 2022, funding dropped to **** billion U.S. dollars, although this was still the second-highest annual figure in the provided time interval.
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Hunan: FAI: TI: Health Care and Social Work data was reported at 48,388.280 RMB mn in 2017. This records an increase from the previous number of 41,425.890 RMB mn for 2016. Hunan: FAI: TI: Health Care and Social Work data is updated yearly, averaging 25,258.650 RMB mn from Dec 2012 (Median) to 2017, with 6 observations. The data reached an all-time high of 48,388.280 RMB mn in 2017 and a record low of 11,190.860 RMB mn in 2012. Hunan: FAI: TI: Health Care and Social Work data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Investment – Table CN.OD: Fixed Asset Investment: Annual: Hunan.
In 2022, the highest share of research and development spending (R&D) was made within the hardware technology producing industry, accounting for a total of nearly ** percent of the global R&D spending. The health sector and software producers followed in second at nearly ** percent each. In total, global R&D spending reached *** trillion U.S. dollars in 2022. Health industry and COVID-19 The high share spent by the health industry must be seen in relation with the COVID-19 pandemic that started spreading in late 2019 and caused deaths, lockdowns, and restrictions throughout 2020 and onwards. As governments and pharmaceutical companies sought to find an efficient vaccine against the virus, investment in research continued to increase. However, regardless of the pandemic, R&D spending within health care is essential in order to combat a variety of diseases, from small pox via malaria to cancer. Information and communication technology As people around the world become more and more dependent on information and communication technology, research spending by companies producing hardware and software continues to increase as these seek to further develop. For instance, all the seven companies with the highest R&D spending in 2022 were either software or hardware producing companies. The largest single investor was the software giant ******.
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Gansu: FAI: TI: Health Care and Social Work data was reported at 10,527.240 RMB mn in 2017. This records a decrease from the previous number of 15,508.940 RMB mn for 2016. Gansu: FAI: TI: Health Care and Social Work data is updated yearly, averaging 8,574.580 RMB mn from Dec 2012 (Median) to 2017, with 6 observations. The data reached an all-time high of 15,508.940 RMB mn in 2016 and a record low of 3,817.010 RMB mn in 2012. Gansu: FAI: TI: Health Care and Social Work data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Investment – Table CN.OD: Fixed Asset Investment: Annual: Gansu.
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China Outward Investment: Health Care and Social Work data was reported at 160.690 USD mn in 2023. This records a decrease from the previous number of 286.260 USD mn for 2022. China Outward Investment: Health Care and Social Work data is updated yearly, averaging 256.715 USD mn from Dec 2012 (Median) to 2023, with 12 observations. The data reached an all-time high of 637.668 USD mn in 2020 and a record low of 5.380 USD mn in 2012. China Outward Investment: Health Care and Social Work data remains active status in CEIC and is reported by Ministry of Commerce. The data is categorized under China Premium Database’s Investment – Table CN.OB: Outward Direct Investment: by Industry.
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Qinghai: FAI: TI: Health Care and Social Work data was reported at 3,975.960 RMB mn in 2017. This records an increase from the previous number of 2,607.660 RMB mn for 2016. Qinghai: FAI: TI: Health Care and Social Work data is updated yearly, averaging 2,001.905 RMB mn from Dec 2012 (Median) to 2017, with 6 observations. The data reached an all-time high of 3,975.960 RMB mn in 2017 and a record low of 1,089.870 RMB mn in 2013. Qinghai: FAI: TI: Health Care and Social Work data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Investment – Table CN.OD: Fixed Asset Investment: Annual: Qinghai.
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Hainan: FAI: excl Rural Household: TI: Health Care and Social Work data was reported at 8,481.100 RMB mn in 2017. This records an increase from the previous number of 5,727.750 RMB mn for 2016. Hainan: FAI: excl Rural Household: TI: Health Care and Social Work data is updated yearly, averaging 2,884.855 RMB mn from Dec 2012 (Median) to 2017, with 6 observations. The data reached an all-time high of 8,481.100 RMB mn in 2017 and a record low of 1,515.940 RMB mn in 2013. Hainan: FAI: excl Rural Household: TI: Health Care and Social Work data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Investment – Table CN.OD: Fixed Asset Investment: Annual: Hainan.
Among OECD member countries, the United States had the highest percentage of gross domestic product spent on health care as of 2023. The U.S. spent nearly ** percent of its GDP on health care services. Germany, France and Japan followed the U.S. with distinctly smaller percentages. The United States had both significantly higher private and public spending on health compared with other developed countries. Why compare OECD countries?OECD stands for Organization for Economic Co-operation and Development. It is an economic organization consisting of ** members, mostly high-income countries and committed to democratic principles and market economy. This makes OECD statistics more comparable than statistics of developed and undeveloped countries. Health economics is an important matter for the OECD, even more since increasing health costs and an aging population have become an issue for many developed countries. Health costs in the U.S. A higher GDP share spent on health care does not automatically lead to a better functioning health system. In the case of the U.S., high spending is mainly because of higher costs and prices, not due to higher utilization. For example, physicians’ salaries are much higher in the U.S. than in other comparable countries. A doctor in the U.S. earns almost twice as much as the average physician in Germany. Pharmaceutical spending per capita is also distinctly higher in the United States. Furthermore, the U.S. also spends more on health administrative costs compare to other wealthy countries.