Impact of the COVID-19 Pandemic on Healthcare Expenditure
Author(s)
Jing Zhang, PhD1, Milena Izmirlieva, MSc2.
1Upper chichester, PA, USA, 2GlobalData, London, United Kingdom.
1Upper chichester, PA, USA, 2GlobalData, London, United Kingdom.
OBJECTIVES: Impact of the Covid19-pandemic on healthcare expenditure: This study aims to test the null hypothesis that there was no statistically significant change in public health spending during the COVID-19 Pandemic (2020-2022) relative to other time period (2000-2019). More specifically, our study aims to find out whether the 70 markets for which GlobalData produces a proprietary forecast significantly increased public health spending during the 2020-2022 period, relative to other time period.
METHODS: A regression is used to test the null hypothesis that there was no statistically significant change in public health spending by the 70 markets during the pandemic. The data on the 70 markets was based on GlobalData World Markets Healthcare (WMH) history data and forecast. Regression was run with public health spending as the dependent variable and real GDP, public debt-ratio, and a dummy variable as the independent variables. The dummy variable was set to “1” during 2020-2022 and “0” during 2000-2019.
RESULTS: Our findings rejected the null hypothesis that there was no statistically significant change in public health spending during the COVID-19 pandemic for 41 markets. Specifically, those 41 markets significantly increased public health spending during 2020-2022, relative to the 2000-2019 period. Out of the 41 markets, 29 (71%) markets increased public health spending with high statistical significance (p-value at/below 1%) during the 2020-2022 period; seven (17%) markets increased public health spending with moderate significance (p-value at/below 5%); and 5 (12%) markets increased public health spending with low significance (p-value at/below 10%).
CONCLUSIONS: Among the 41 markets which significantly increased public health spending during the COVID-19 pandemic, there was a notable European presence. During the pandemic, 17 (71%) of the 24 European Union members and 11 (69%) of the 16 Eurozone members, included in GlobalData’s WMH forecast, significantly increased their public health spending during the pandemic.
METHODS: A regression is used to test the null hypothesis that there was no statistically significant change in public health spending by the 70 markets during the pandemic. The data on the 70 markets was based on GlobalData World Markets Healthcare (WMH) history data and forecast. Regression was run with public health spending as the dependent variable and real GDP, public debt-ratio, and a dummy variable as the independent variables. The dummy variable was set to “1” during 2020-2022 and “0” during 2000-2019.
RESULTS: Our findings rejected the null hypothesis that there was no statistically significant change in public health spending during the COVID-19 pandemic for 41 markets. Specifically, those 41 markets significantly increased public health spending during 2020-2022, relative to the 2000-2019 period. Out of the 41 markets, 29 (71%) markets increased public health spending with high statistical significance (p-value at/below 1%) during the 2020-2022 period; seven (17%) markets increased public health spending with moderate significance (p-value at/below 5%); and 5 (12%) markets increased public health spending with low significance (p-value at/below 10%).
CONCLUSIONS: Among the 41 markets which significantly increased public health spending during the COVID-19 pandemic, there was a notable European presence. During the pandemic, 17 (71%) of the 24 European Union members and 11 (69%) of the 16 Eurozone members, included in GlobalData’s WMH forecast, significantly increased their public health spending during the pandemic.
Conference/Value in Health Info
2025-11, ISPOR Europe 2025, Glasgow, Scotland
Value in Health, Volume 28, Issue S2
Code
HPR117
Topic
Economic Evaluation, Epidemiology & Public Health, Health Policy & Regulatory
Topic Subcategory
Public Spending & National Health Expenditures
Disease
Vaccines