Canada’s Health-Care Spending Set to Exceed Economic Growth in 2024, CIHI Reports

The Canadian Institute for Health Information (CIHI) has projected a new high in health-care spending for Canada in 2024. According to the CIHI’s annual report released Thursday, total health-care spending is expected to reach $372 billion, or approximately $9,054 per Canadian.

Canada's Health-Care Spending Set to Exceed Economic Growth in 2024, CIHI Reports

Health-Care Expenditures Expected to Increase

CIHI’s national analysis indicates that health-care expenditures will rise by 5.7% in 2024. This represents a significant jump compared to the 4.5% increase in 2023 and 1.7% in 2022. This uptick in spending is largely driven by the growing population and aging demographic in Canada, which is expected to continue placing pressure on the health-care system for the next several years.

Canada’s Health Spending as a Share of GDP

In 2024, health-care spending is anticipated to account for 12.4% of Canada’s Gross Domestic Product (GDP). This will be the highest health-care spending ratio in Canada’s history, excluding the years impacted by the COVID-19 pandemic.

New Commonwealth Seniors Health Card Rules 2024: Updated Eligibility, Benefits, and Application Guide

Ontario Launches New Nursing Program at Carleton University to Address Healthcare Needs

Can Your BC Health Card Work in Alberta? What You Need to Know Before You Go

Can You Use a BC Health Card in Ontario? Healthcare Coverage Across Provinces

Lost Your Ontario Health Card? Here’s How to Get a Replacement Fast

Growing Health-Care Needs and Rising Costs

While health-care expenditures generally outpace economic growth, the need for more health services is expected to keep driving this trend. Canada’s per capita spending on health care was already among the highest in the world in 2022, but it still trails behind countries like the United States and Sweden.

Leave a Comment