Aging Population and Medical Devices - Thematic Intelligence

Aging Population and Medical Devices - Thematic Intelligence

Summary

The aging population is a captive market for medical devicesWe are experiencing a profound demographic shift as increases in life expectancy-coupled with declines in fertility-have substantially shifted population demographics. According to the World Health Organization (WHO), individuals ages 60 and over will number approximately 2.1 billion by 2050. In high-income countries the challenges of an aging population are particularly pronounced, for example in Japan where close to 30% of the population is aged 65 and over. However, low- and middle-income countries are now experiencing the greatest demographic shift, and by 2050, will account for two-thirds of the global population over 60 years of age.

This increased number of older individuals is accompanied by increasing health concerns, presenting unique demand for the medical device industry. With rising pressure on governments, payers, and manufacturers to reduce healthcare costs, innovative medical technologies have tremendous potential to improve elder care.

The demand for home care solutions is increasing

The shift towards home care for the elderly population has been occurring for several years. Advancements in medical device technology have resulted in a significant increase in the number of conditions that can be managed in a home care setting. To capitalize on this strong demand and growth, manufacturers are increasingly producing consumer-targeted equipment.

COVID-19 spurred a shift towards prioritizing elderly care

The COVID-19 pandemic placed additional stress on health care delivery systems worldwide, exposing the structural ageism that led to high rates of morbidity and mortality among older populations. These circumstances prompted global organizations to call for medical, scientific, social, and financial preparedness for the aging population as a global imperative.

Scope

This report is a thematic brief, which identifies those companies most likely to succeed in a world filled with disruptive threats. Inside, we predict how each theme will evolve and identify the leading and disrupting companies.

The report covers the aging population theme.

Reasons to Buy

• GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
• Develop and design your corporate strategies through an in-house expert analysis of the aging population by understanding the primary ways in which this theme is impacting the healthcare industry.
• Stay up to date on the industry’s major players and where they sit in the value chain.
• Identify emerging industry trends to gain a competitive advantage.