Strategic Intelligence: Impact of the Aging Population on the Medical Industry

Strategic Intelligence: Impact of the Aging Population on the Medical Industry

Summary

We 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 60 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.

Scope

• Increases in life expectancy and declines in fertility are shifting population demographics.
• The growing aging population is increasing health concerns, and innovative medical technologies have potential to improve elder care.
• The demand for home care solutions is increasing with the aging population.

• Understand how the shifting population demographic will impact the medical industry.
• Understand the ways in which the medical industry can improve elder care.
• Understand the challenges that the medical industry will face as the aging population continues to increase.