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Chart of the Day: Healthcare expenditure to triple by 2030 as silver tsunami bites
Singapore will spend $44b for healthcare in less than two decades.
This chart from DBS shows that Singapore's total healthcare expenditure is expected to triple to $44 billion by 2030 on back of the city-state’s rapidly ageing population.
Total healthcare spending is expected to grow at a compound annual growth rate (CAGR) of 5.9%. Healthcare expenditure as a percentage of GDP is expected to increase to 7.3% in 2030, from 4.6% in 2013.
At the same time, personal healthcare spending would jump to $28 billion from $11 billion in 2013. Private spending will make up 64% of total healthcare expenditure, implying potential growth in private healthcare.
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