The Global Medical Trend Rates Report 2024
Regional / Country Comparison Tool
Take a deeper dive into the 2024 Global Medical Trend Rates Report. With this interactive tool, you will be able to do side-by-side comparisons of countries and global regions.
Under each geography, you will find commentary, a 10-year medical trend chart, and lists of the key factors impacting medical trend in that location.
Regional / Country Comparison Tool
Global
Asia-Pacific
Commentary
The expectation for employer-sponsored medical plans is that the global medical trend rate will see a sharp rise in 2024. While macroeconomic instability has had a significant impact on the medical trend, it is not the only factor. In addition to inflation, the top medical conditions that are expected to drive medical plan costs in 2024 are the same those from 2023: cancer/tumor growth, cardiovascular diseases, and high blood pressure/ hypertension. The primary risk factors driving trend globally are physical inactivity and poor stress management. Other risk factors include poor nutrition, air pollution, and excessive drug and alcohol use. Download the full report for more information on key conditions, risk factors, and the steps that major employers are taking to mitigate the rise in trend.
Commentary
Despite nearly reaching double digits at 9.7 percent, the projected medical trend rate increase in Asia-Pacific is the second lowest of the regions, and only a half percent increase over what was projected in 2023. That increase is largely driven by the general inflation rate in the region, as the net medical trend rate (the medical trend rate less general inflation) actually decreased slightly from 2023. The largest region by population by far, the risk factors named in the region are overwhelmingly related to diet, with high blood glucose, high cholesterol, hypertension, poor nutrition and obesity all being named as factors in the past five years. Cardiovascular disease and cancer have consistently been the leading two conditions driving claims in the region for five consecutive years.
Gross Medical Trend Rate
An increase from 9.2%
(as reported in 2023)
Gross Medical Trend Rate
An increase from 9.2%
(as reported in 2023)
Key Drivers of the Cost of Medical Healthcare Plans
Hospitalization
Clinics/Labs
Prescription Drugs
Physician Services
Maternity
Key Drivers of the Cost of Medical Healthcare Plans
Hospitalization
Physician Services
Clinics/Labs
Prescription Drugs
Maternity
Medical Trend Rates Over the Past 10 Years
Medical Trend Rates Over the Past 10 Years
Key Medical Conditions Reported
Cancer/Tumor Growth
Cardiovascular
High Blood Pressure/Hypertension
Diabetes
Musculoskeletal/Back
Key Medical Conditions Reported
Cardiovascular
Cancer/Tumor Growth
ENT/Lung Disorder/Respiratory
Diabetes
Musculoskeletal/Back
Key Risk Factors Driving Worsening Health
Physical Inactivity
Poor Stress Management
Obesity
Lack of Health Screening
Air Pollution
Key Risk Factors Driving Worsening Health
High Blood Pressure
Physical Inactivity
Ageing
High Cholesterol
Poor Stress Management
How Are Companies Mitigating This Risk
Implementation of Wellness Initiatives
Use of Cost Containment Features in Plan Design
Use of Flexible Benefit Plans and Other Approaches to Limit Benefit Costs
How Are Companies Mitigating This Risk
Implementation of Wellness Initiatives
Benefit Curtailments Through Plan Design other than Cost Containment
Use of Cost Containment Features in Plan Design
Restrictions on Medical Service Access and Delivery
Expansion of Medical Service Provider Networks