Question

The U.S. spent about 18% of its GDP on health care annually. The healthcare costs per capita in the U.S. was approximately $11,000 in 2020, almost twice the average of other wealthy countries.

Please list at least three factors that contributed to the increase in demand for medical goods & services in the U.S.

Answer 1

Advancements in medical technology, an aging population, and increased prevalence of chronic diseases are three factors that have contributed to the increase in demand for medical goods and services in the U.S.

Step-by-step explanation:

There are several factors that have contributed to the increase in demand for medical goods and services in the U.S., resulting in higher healthcare costs per capita. Three of these factors include:

1. Advancements in medical technology: The U.S. is known for its technological advances in healthcare. New technologies often come with higher costs, such as expensive medical equipment and cutting-edge treatments.
2. Aging population: The aging population in the U.S. has increased the demand for healthcare services. As people age, they typically require more medical attention and treatments, leading to higher healthcare costs.
3. Increased prevalence of chronic diseases: Chronic diseases, like diabetes and heart disease, have become more common in the U.S. These conditions require ongoing medical care and management, which contributes to the overall demand for healthcare services.