In this article, we will take a look at the 20 countries with the highest number of doctors per capita in 2023. If you want to skip our discussion on the global healthcare situation, you can go directly to the 5 Countries With The Highest Number of Doctors Per Capita in 2023.
Regional disparities in healthcare quality are evident globally, with developed countries outperforming their developing counterparts. The World Health Organization (WHO) evaluates healthcare systems based on several criteria, including access to care, treatment outcomes, and overall system efficiency. European nations, particularly Switzerland, Belgium, France, and Germany, consistently rank among the countries with the highest healthcare quality scores. This aligns with the European Union's average of 3.9 doctors per 1000 people. Cuba is the country with the most doctors-to-population ratio, exceeding the WHO's ideal physician-to-population ratio of 2.5 doctors per 1000 people. For 2020, the average physician-to-population ratio for 27 countries was 3.56 doctors per 1,000 people, with Austria having the highest value (5.35 doctors per 1,000 people) and Brazil having the lowest value (2.05 doctors per 1,000 people).
The WHO has consistently raised concerns about a significant global shortage of health workers, projecting a shortage of 10 million health professionals by 2030 worldwide. This shortage poses a severe crisis, particularly for 57 underdeveloped countries, where the available number of doctors falls below the minimum requirements. The challenge is further worsened by the unequal distribution of health professionals relative to the disease burden. The countries with the lowest number of doctors per capita include Somalia (0.20), Niger (0.30), South Sudan (0.40), Tanzania (0.50), Malawi (0.50), and Liberia (0.50).
The global supply and demand dynamics in the healthcare industry are being shaped by significant forces, primarily driven by major demographic shifts, growing populations in economies like India, Brazil, South Africa, and China, and changes in disease patterns. Developed countries are witnessing aging populations and increased urbanization. There's also a transition happening from infectious, nutrition-related, and maternity-related causes of death to non-communicable diseases. Notable companies in the healthcare industry, such as UnitedHealth Group Inc (NYSE:UNH), CVS Health Corporation (NYSE:CVS), and Merck & Co., Inc. (NYSE:MRK), are actively working towards leveraging technology to enhance efficiency and alleviate workload pressures.
“Our largest new position was CVS Health Corporation (NYSE:CVS). We owned CVS in 2021 through call options, which provided a handsome return. We sold it when it reached our assessment of intrinsic value. In the first half of the year, the stock traded down nearly 40% from its highs. CVS is valued like a pharmacy business in secular decline, while its strategy and assets are far better. CVS owns a healthcare benefits business (Aetna) and a pharmacy-benefits manager (Caremark). It recently acquired Signify Health and Oak Street Health, entering the In-Home Evaluations and primary care spaces enhancing the company’s ability to offer comprehensive healthcare services as we transition to a system more focused on value-based care. Short-term headwinds, such as an unwind from COVID, some unfavorable health care developments and negative headlines from PBM contract losses, weighed on the price. The company is again significantly undervalued, with a trough-level 8.2x P/E multiple well below peers’ 12.2x, with a 3.5% dividend yield. We saw an opportunity to diversify the portfolio with a stable company with a promising strategy and group of assets at an attractive price.”
Countries With The Highest Number of Doctors Per Capita in 2023
To shortlist 20 countries with the highest number of doctors per capita in 2023, we referred to the WHO’s World Health Statistics 2023 report. The countries have been ranked in ascending order of the number of doctors per 10,000 population. The list represents countries where the availability of medical doctors is considerably high, reflecting a commitment to accessible and quality medical services for their populations.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
20 Countries With The Highest Number of Doctors Per Capita in 2023
20. Switzerland
Doctors per 10,000 Population: 44.4
Switzerland has a strong economy centered around a well-organized financial sector, precision manufacturing, and a thriving pharmaceutical industry. The country has a mandatory health insurance system, and the government provides additional support for the impoverished through general revenues.
19. Germany
Doctors per 10,000 Population: 45.2
Germany stands as one of the world’s largest economies. Key contributors to its economy include service industries such as telecommunications, health care, and tourism, alongside a strong industrial and agricultural sector. Germany's social benefits are renowned for being detailed and comprehensive.
18. Armenia
Doctors per 10,000 Population: 45.5
Agriculture constitutes two-fifths of Armenia's GDP and employs one-fifth of its labor force. Hospital treatment is provided free of charge for all nationals, funded through tax collection. The government also offers modest benefits to the unemployed, elderly, and parents of young children.
17. Spain
Doctors per 10,000 Population: 45.8
Spain's healthcare system provides a comprehensive range of services through clinics and hospitals. While healthcare is mostly government-controlled, many doctors operate their clinics independently of the government system. Moreover, private insurance plans are available for those seeking alternative healthcare options.
16. Slovakia
Doctors per 10,000 Population: 46.3
Slovakia's healthcare system is mostly under state control, with some private facilities and private medical insurance options available. The national network of hospitals is complemented by factory and community clinics, first aid stations, and other outpatient facilities.
15. Lithuania
Doctors per 10,000 Population: 49.5
The Lithuanian government generally provides free medical treatment for its nationals, in addition to offering pensions and funding for kindergartens and daycare services.
14. Norway
Doctors per 10,000 Population: 51.7
Norway requires its citizens to enroll in a mandatory national health insurance system. This system guarantees good medical care in hospitals, compensation for doctors' fees, and provides free medicine. Salaried employees are also required to obtain membership in another insurance fund that provides cash benefits during illness or pregnancy. The majority of doctors in Norway work in state-owned hospitals.
13. Cyprus
Doctors per 10,000 Population: 53.8
Cyprus relies heavily on tourism as the main pillar of its economy, which has enabled the country to establish itself as an international hub for transit trade, merchant shipping, and banking.
12. Georgia
Doctors per 10,000 Population: 54.0
The Georgian government provides funding for various social services, including free education, medical services, pensions, and stipend payments. It also supports free or subsidized accommodation in rest homes. The government is also involved in maintaining kindergartens and day nurseries.
11. Austria
Doctors per 10,000 Population: 54.6
Austria is in the eleventh position on our list of the 20 countries with the highest number of doctors per capita in 2023. Public health in Austria is under the management of the Ministry of Health, a part of the Federal Government. The ministry oversees many subsidiary institutes responsible for preventing infectious diseases and inspecting drugs and food. In addition to the federal level, Austria's provincial governments operate public healthcare centers, and every municipality and rural district is required to have a public health physician. Meanwhile, the costs of medical and hospital treatment are covered by national health insurance, providing security for all workers and salaried employees in cases of sickness, disability, unemployment, maternity, and old age.
10. Czech Republic
Doctors per 10,000 Population: 54.7
The Czech Republic embarked on a plan to decrease the state's control of health services from 1992 to 1994. The objective was to introduce privately run facilities and establish a funding system to support these services. The privatization efforts resulted in a rise in privately run healthcare facilities, but the restructuring process faced mismanagement challenges. Despite facing increased costs and reduced subsidies, citizens have benefited from improved medical services and the adoption of advanced technologies in the healthcare sector.
9. Malta
Doctors per 10,000 Population: 54.9
The government of Malta ensures that a wide-ranging selection of free health services and preventive care are available for Maltese citizens. Starting from the 1990s, private hospitals were introduced alongside state hospitals and clinics, contributing to the expansion of healthcare services in the country. The country is in the ninth position on our list of the 20 countries with the highest number of doctors per capita in 2023.
8. Portugal
Doctors per 10,000 Population: 56.2
Portugal has a strong welfare system supported by various institutions, providing workers with insurance coverage for sickness, disability, and old age. These institutions facilitate pension payments and family allowances, and mandatory insurance is typically provided by employers across various business and industry sectors, with contributions from employees.
7. San Marino
Doctors per 10,000 Population: 60.2
San Marino has well-established social programs designed to support its citizens. In efforts to reduce unemployment, the state provides employment opportunities for those who cannot secure jobs in the private sector. All citizens contributing to social security enjoy benefits such as free and high-quality medical care and assistance in cases of sickness, accidents, and old age. Furthermore, citizens receive family allowances. The state also promotes home ownership through building schemes, and education is both free and mandatory up to the age of 16.
6. Uruguay
Doctors per 10,000 Population: 62.0
Uruguay has progressive welfare programs and provides comprehensive healthcare services and various benefits to the unemployed, low-wage workers, and senior citizens. Moreover, employees with low annual incomes in Uruguay can avail of maternity benefits, while mothers earning low wages are eligible for child-care benefits.
Popular companies, such as UnitedHealth Group Inc (NYSE:UNH), CVS Health Corporation (NYSE:CVS), and Merck & Co., Inc. (NYSE:MRK), are actively working towards creating innovative solutions to improve healthcare systems across the globe.
