In this article, we will be taking a look at the 5 countries with the best healthcare in Europe. If you wish to learn about the growing healthcare market in Europe, head straight to the 15 Countries With The Best Healthcare In Europe.
5. Netherlands
LPI Health Score: 82
The Netherlands has a top-tier healthcare system based on regulated competition and universal social health insurance and stands among the countries with #1 healthcare quality. Dominated by four major insurers, overseen by the Dutch Competition Authority, healthcare expenditure were 80.9 billion euros in 2019, mainly funded publicly. Reforms focus on accessibility, cost reduction, and improved quality, controlling financial frameworks and reducing care volume growth.
4. Switzerland
LPI Health Score: 82.1
Switzerland stands fourth among the countries with the best healthcare system and its healthcare system is funded through premiums, taxes, and out-of-pocket payments, with health expenditures at 11.8% of GDP in 2020. Publicly financed healthcare constitutes 62.8%, with an average annual premium of CHF 5,584 ($5,922.45) in 2018. Estimated 2024 health expenditure is 12.04% of GDP, spending $8049 per capita, exceeding the OECD average. Boasting 4.4 doctors and 18.4 nurses per 1,000 population, it also stands among the countries with the best doctors and its healthcare market will be valued at USD 62.4 billion in 2022, emphasizing high spending on medical products.
3. Sweden
LPI Health Score: 82.3
Sweden’s renowned healthcare system emphasizes substantial government spending and a focus on digital health services, with around 11% of GDP allocated to health. Serving a population of 10 million with excellent overall health, Sweden has significant per capita expenditure on health, mainly covered by the government. The Swedish government and the Swedish Association of Local Authorities and Regions aim to lead in digitization and eHealth by 2025, investing approximately $1.22 billion annually in healthcare IT.
2. Iceland
LPI Health Score: 82.7
Iceland stands second among the countries with the best healthcare in Europe and its high-quality healthcare system ensures universal access, with health expenditure at 8.5% of GDP in 2019 and per capita spending of EUR 3,497 ($3,826.67) in 2021. The country allocates the largest share of health resources to inpatient and outpatient care, with minimal focus on prevention and virtually non-existent voluntary health insurance.
1. Norway
LPI Health Score: 83
Norway, tops the list of countries with the best healthcare in Europe, allocating 10.1% of GDP to healthcare, spent $43 billion in 2021, with 85% covered by the state-run system. Prioritizing technology, the medical devices market is expected to reach $2.3 billion by 2026. The pharmaceuticals market forecasts an 8.2% increase in NOK terms. Norway’s hospital market projects a 1.69% growth (2024-2028) to reach $21.26 billion. The robust healthcare market is backed by increased budget allocations and a government goal to digitize, ensuring universal access.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a peek at the 40 Cities with the Lowest Life Expectancy in the US and the 15 States With Highest Rates of Eating Disorders.
