Evolving Health Expenditure Landscape of the BRICS Nations and Projections to 2025.
Global health spending share of low/middle income countries continues its long-term growth. BRICS nations remain to be major drivers of such change since 1990s. Governmental, private and out-of-pocket health expenditures were analyzed based on WHO sources. Medium-term projections of national health spending to 2025 were provided based on macroeconomic budgetary excess growth model. In terms of per capita spending Russia was highest in 2013. India's health expenditure did not match overall economic growth and fell to slightly less than 4% of GDP. Up to 2025 China will achieve highest excess growth rate of 2% and increase its GDP% spent on health care from 5.4% in 2012 to 6.6% in 2025. Russia's spending will remain highest among BRICS in absolute per capita terms reaching net gain from $1523 PPP in 2012 to $2214 PPP in 2025. In spite of BRICS' diversity, all countries were able to significantly increase their investments in health care. The major setback was bold rise in out-of-pocket spending. Most of BRICS' growing share of global medical spending was heavily attributable to the overachievement of People's Republic of China. Such trend is highly likely to continue beyond 2025. Copyright © 2016 John Wiley & Sons, Ltd.
Faculty of Medical Sciences University of Kragujevac, Kragujevac, Serbia.
Mihajlo
M
Jakovljevic
Institute of Health Economics, Higher School of Economics, National Research University, Moscow, Russian Federation.
Elena
E
Potapchik
Institute of Health Economics, Higher School of Economics, National Research University, Moscow, Russian Federation.
Larisa
L
Popovich
National Council for Applied Economic Research, New Delhi, India.
Debasis
D
Barik
Risk, Insurance and Healthcare Management Department, Temple University, Philadelphia, PA, USA.
Thomas E
0000-0002-4622-4216
TE
Getzen
D003906:Developing Countries / Q000191:economics*; D005382:Financing, Personal / Q000191:economics; D014943:Global Health / Q000191:economics*; D033161:Government Regulation; D005102:Health Expenditures / Q000639:trends*; D006801:Humans; D008483:Medical Assistance / Q000191:economics; D057766:Policy; D014944:World Health Organization
BRICS; emerging markets; future forecasts; global health; health expenditure; medical spending; projections; trend