Global health care expenses are expected to increase by 9.2% next year, up from 7.4% this year which is the highest rate since 2015. The United States and Canada may be spared the steepest increases – at least for now.

"North America was the only region without an increased trend rate, holding steady at 6.6% due to the delayed impacts of inflation on U.S. medical trends," according to the 2023 Global Medical Trends Report from Aon. "North American trend rates will continue to experience upward pressure over the next couple of years, further accelerating the cost and affordability challenges already present in that region. Although the 2023 rates may feel comparatively low, there are still significant pressures within the North American health care system that are catalyzing higher health care costs."

The top medical conditions driving global cost increases are cardiovascular disease, cancer and tumor growth, and high blood pressure and hypertension.