In 2024, the United States will continue to top global healthcare expenditures, with an average yearly expenditure of $12,555 per person. This is significantly more than other industrialized countries like Switzerland ($8,049) and Germany ($8,011), as per the last updated data. The U.S. healthcare system is primarily reliant on private insurance, which pushes up costs through high administrative fees, costly medical procedures, and pharmaceutical pricing.

The scattered structure of US healthcare, which includes many insurers and payment methods, contributes greatly to these high prices. In comparison, nations such as Norway and Germany retain strong medical systems with lower per capita costs by relying on socialized systems or regulated insurance programs.

Many European nations follow the United States in terms of healthcare spending, but the main distinction is that the majority of that expense is covered by the government, whereas the United States relies on expensive private health insurance policies. 

List of Countries That Spend the Most on Healthcare

1. United States
2. Switzerland
3. Germany
4. Norway
5. Austria
6. Netherlands
7. France
8. Belgium
9. Sweden
10. Luxembourg

1. United States

In 2024, the United States will continue to be the world’s largest healthcare spender, with per capita spending exceeding $12,555.

A number of reasons contribute to the high expense of healthcare in the United States. Unlike many European nations with centralized or single-payer medical systems, the United States mainly relies on private insurers, which raises administrative costs and restricts government price control. The cost of medical services, drugs, and specialist wages in the United States is among the highest in the world. Furthermore, chronic disorders such as diabetes and cardiovascular disease make for a considerable amount of healthcare spending.

Despite its high costs, the United States struggles with productivity and affordability. Many Americans are facing increased insurance premiums and out-of-pocket expenses, with family health insurance premiums reaching over $24,000 in 2023. The transition to high-deductible health insurance also places a financial burden on households, exacerbating the strain on personal resources.

While the United States’ healthcare system provides some of the most advanced treatments in the world, the results may not always match the high costs. Countries with comparatively lower healthcare costs, such as Norway and Germany, frequently obtain better public health outcomes by implementing more regulated and efficient systems. The debate over healthcare reform continues at the center of US policy talks, with an emphasis on balancing expenses, access, and effectiveness.

2. Switzerland

Switzerland’s healthcare spending is expected to reach CHF 95.6 billion by 2024, with per capita healthcare costs of around CHF 10,612. This growth represents an average yearly increase of 3.5% since 2021, fueled by post-pandemic recovery and healthcare demand. Healthcare expenditure is quite high, accounting for around 11.8% of the country’s GDP, a trend that has steadied in recent years. Switzerland has an average yearly expenditure of $8,049 per person in 2024.

Switzerland’s healthcare system, noted for its universally required health insurance, is based on nonprofit insurers that compete in regional markets. Individual premiums, government payments, and patient cost-sharing, including deductibles and coinsurance, all help to fund the program. Co-pays for medical services and medications range from 10% to 20% of the total cost. Additional optional insurance provides access to perks like private rooms or a greater physician choice.

Despite high expenses, Switzerland prioritizes excellent treatment and accessibility. The healthcare system provides a wide range of services, including inpatient and outpatient care, mental health, and maternity services. Regional governments (cantons) and insurers are jointly responsible for managing healthcare infrastructure. Recent changes attempt to improve care coordination and transparency, addressing growing costs in the system.

3. Germany

Germany’s healthcare spending remains among the highest among EU nations in 2024. Germany spends over 12.9% of its GDP on healthcare, which is more than the EU average of 10.9%. This amount of investment, which combines private health insurance choices with statutory health insurance (SHI), demonstrates the nation’s dedication to a comprehensive healthcare system. Germany has an average yearly expenditure of $8,011 per person in 2024.

Having 89.5% of the population depending on SHI and the remaining 10.5% utilizing private insurance, Germany’s healthcare system offers broad coverage. Long-term care, medications, and hospital care account for a large amount of health spending. Germany also places a high priority on digital transformation, as seen by the growth of secure provider communication networks and electronic health records. ​

Approximately 13% of health expenses are paid for out of pocket by people, despite the high spending. This is in line with Germany’s policy of minimal cost sharing in comparison to other countries, which guarantees that the majority of the population has access to healthcare. Germany hopes to overcome the issues brought on by demographic changes and growing healthcare needs by maintaining the quality and equality of its healthcare system through sustained high investment.

4. Norway

Norway remains number four in the world in 2024 in terms of healthcare expenditure. Both as a proportion of GDP and per capita, the nation’s healthcare spending is remarkable. Norway’s dedication to a strong, publicly financed healthcare system is demonstrated by the country’s expenditure of around 10–11% of its GDP on health. At around $6,500 to $7,000 USD per capita, it has some of the highest healthcare costs in the world, guaranteeing its citizens comprehensive coverage and high-quality services.

The majority of Norway’s healthcare budget is provided by the government, with general taxes accounting for around 85% of the total. The remaining portion is paid out of pocket by households, primarily for long-term care, dental treatment, and medications. The national insurance program in Norway covers almost all medical services, including stays in the hospital, primary care, and specialty therapies, with an emphasis on equal access.

Excellent health results, including a high lifespan of over 82 years, are ensured by Norway’s high healthcare investment. Maintaining such an elevated level of spending, however, also sparks discussions about cost-efficiency and current changes meant to enhance collaboration between municipalities and hospitals. Priorities include improving public health programs like the “Coordination Reform,” which aims to better integrate primary and hospital care, and bolstering mental health services.

5. Austria

Austria has always placed well in the OECD for healthcare spending, which in recent years has accounted for between 11 and 12 percent of its GDP. Public financing is essential; the majority of costs are covered by state health budgets, regional governments, and social health insurance programs. Austria places a strong focus on ensuring that everyone has access to healthcare services, as evidenced by the fact that public spending on healthcare usually accounts for 75-78% of total health expenditures. Austria’s healthcare spending per capita is expected to reach around US $6,500 by 2024.

Long-term care is also given priority in the nation, particularly as the number of elderly people rises and strains the healthcare system. The payments from private families and volunteer health insurance programs make up around 22–23% of the total, albeit being smaller. Due to growing operational expenses and increased demands on hospital facilities, it was predicted that total healthcare spending will top €50 billion annually by 2024.

With public hospitals across the provinces being managed by state funding, the government is likewise committed to guaranteeing a fair distribution of medical care among its areas. Due to its bigger population and medical facilities, the capital, Vienna, usually has the highest level of healthcare spending when compared to smaller districts like Burgenland.

6. Netherlands

The Netherlands intends to invest heavily on healthcare in 2024, allocating between 10 and 12 percent of its GDP to this sector. The yearly cost of healthcare per person is still considerable, at about $6,500 USD. With both public and commercial insurers offering competing services, the Dutch system places a strong emphasis on universal coverage through required health insurance.

Individuals pay premiums and out-of-pocket expenses, particularly for specialist care and non-essential treatments, even if insurers cover the majority of expenditures. In order to effectively control long-term expenses, current goals include extending preventative care initiatives, strengthening senior care, and implementing mental health changes.

The Netherlands is among the top 10 nations for healthcare results and patient satisfaction because of its balanced approach to public and private funding, which enables it to maintain excellent levels of treatment.

7. France

France has a strong healthcare system as of 2024, spending between 11 and 12% of its GDP on healthcare. With the majority coming from public contributions and social health insurance, this spending promotes universal coverage. France’s excellent levels of care are reflected in its per capita healthcare spending, which ranges from $5,000 to $6,000.

Considering the majority of residents covered by required insurance and supplementary private insurance accessible for additional treatments, the system prioritizes equity. In order to improve treatment efficiency and accessibility, priorities include managing chronic diseases, attending to the requirements of the aging population, and enhancing mental health services.

In 2024, France’s healthcare system confronts a number of difficulties. An aging population and rising healthcare expenses put more strain on available resources, which results in higher wait times, particularly for emergency treatments. Regional differences in healthcare access also exist, with a lack of medical experts in rural areas. Despite rising demand, mental health services continue to get little funding. Hospital overcrowding is another factor driving initiatives to move care to preventative and outpatient programs. In order to increase productivity and coordinate patient care, France is likewise struggling with the necessity of digital transformation.

8. Belgium

Belgium’s health care expenditures continue to account for a substantial portion of its GDP. In line with other developed European economies, the nation devotes around 10–11% of its GDP to healthcare. Contributions from the public sector provide for more than 77% of all healthcare spending, a percentage that hasn’t changed since 2021. Belgium has a strong emphasis on both acute and long-term health services, which together make up around 8% of its GDP and are expected to gradually rise in the years to come.

Belgium spends more per capita on healthcare than many other EU nations, indicating that the system is well-funded. Per capita healthcare spending has risen to almost $5,600 in recent years, a result of ongoing expenditures in hospitals, drugs, and cutting-edge therapies. Belgium expects long-term care spending to rise beyond the EU average in the future, making the need for sustainable public finance and growing pharmaceutical costs persistent obstacles.

While dealing with financial strains and demographic changes like aging, Belgium is nonetheless dedicated to striking a balance between public and private healthcare spending. Future cost control and changes that increase efficiency in all areas of healthcare are essential to the system’s viability.

9. Sweden

Sweden spends a lot of money on healthcare, around 12% of its GDP. The country’s dedication to universal health coverage and easily accessible treatment for all residents is reflected in the per capita healthcare spending, which is among the highest in the world. Just 14% of all medical costs are paid for out of pocket, which is less than the European average. The majority of healthcare services are publicly supported through regional and local budgets.

Sweden places a high priority on primary care in order to lessen dependency on hospital and specialty services. In order to assist in controlling expenses, each region sets co-payments on its own to incentivize people to see primary care physicians first. Hospital care is strong, with specialized university hospitals providing cutting-edge treatments, and as Sweden gets ready for an aging population, home-based care for senior citizens is growing.

Digitalization has been the main emphasis of recent healthcare reforms; electronic health records have been fully deployed, and digital consultations are now typical. Sweden also places a strong emphasis on co-payments for pharmaceuticals and dental care subsidies, which ensure affordability for the majority of its population. Demographic difficulties, such as a declining labor force and rising healthcare costs from the elderly, will still be major concerns for sustainability in the upcoming year.

10. Luxembourg

Luxembourg anticipates spending around €9,000 per person on healthcare in 2024, demonstrating its dedication to a strong healthcare system. Compared to other years, this expenditure is anticipated to represent a consistent investment in public health, accounting for almost 6% of the nation’s GDP.​

The majority of the funding for Luxembourg’s healthcare system comes from a combination of private and public donations. The government contributes significantly to the cost of healthcare, guaranteeing that all of its citizens are covered, including hospital treatment, outpatient services, and preventative measures. The nation is renowned for providing top-notch healthcare services, made possible by sophisticated technology and skilled personnel.

In order to improve patient care, Luxembourg is also concentrating on expanding mental health services and incorporating digital health solutions. In order to meet the demands of an aging population and uphold good healthcare standards, this involves efforts to advance telemedicine and enhance access to health information.

A Table View of Which Country Spends the Most on Healthcare

Conclusion

The United States spends more on healthcare than any other country in the world as of 2024. This amount is far higher than expenditure levels in most affluent countries, translating to around $12,555 per person. High expenditures for services and medications, sophisticated medical technology, and the administrative expenses of a convoluted insurance system are some of the factors contributing to this high spending. 

Switzerland and Germany, for example, spend a significant amount of money on healthcare (11.8% and 12.9% of GDP, respectively), yet their health results are better than their expenses. In terms of overall healthcare spending, the United States remains at the top, which raises concerns regarding investment efficiency and results.

FAQs

Which Nation Has the Most Expensive Healthcare?

The United States, as per the records, has the most expensive healthcare. A consultation costs, on average, around $190 or €170.

Which Nation Offers the Most Affordable Medical Care?

Portugal boasts some of the greatest and most reasonably priced healthcare in the world, according to International Living’s most recent 2024 Annual Global Retirement Index. ​

Which Procedure is the Most Costly?

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Which Nation Offers the Greatest Medical Facilities?

Taiwan is at the top of the list of nations with the greatest medical systems. Denmark, France, and other nations where you can be granted second citizenship or residence by investment are included in the top 10.

Which Operation Has the Most Risk?

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