Seniors

WHAT'S NEXT?: Between 2000 and 2050, the proportion of the world's population aged over 60 will double from about 11 per cent to 22 per cent.

• [New] Population growth and ageing - along with lifestyle changes and urbanization - will dramatically increase the number of people with eye conditions, vision impairment and blindness in the coming decades.
• [New] The eurozone's old-age dependency ratio - the number of people aged 65 and over as a percentage of the working-age population - is expected to rise steeply, from just above 30 percent in 2016 to about 52 percent by 2070.
• [New] By 2046, there will be more people in every single year of age in Ontario compared to 2018, with a sharp increase in the number of seniors.
• [New] People should expect to outlive their retirement savings by between eight and 20 years on average, with the highest burden on women.
• [New] The UK population is ageing, with the number of people over 85 predicted to double to 3.2 million by 2041.
• [New] In an unprecedented trend, most people can now expect to live into their 60s and beyond, and health systems everywhere are unprepared to meet the needs of the growing number of people living longer lives.
• [New] Thailand is projected to reach a high value of old age dependency ratio (> 25 percent of the working-age population) by 2030, giving it a slightly longer time frame than Singapore to make suitable interventions, while Malaysia has much more leverage, reaching higher ratio levels only by 2050.
• [New] While growth will remain steady in the developed markets, Asian and other emerging markets will be key for In Vitro Diagnostics market growth from 2019 to 2025.
• The share of US seniors ages 55 and older increased from 21 percent of the population in 2000 to 29 percent in 2017 and is expected to reach 33 percent by 2040, translating to 29 million more seniors in 2040 than in 2017.
• While growth will remain steady in the developed markets, Asian and other emerging markets will be key for Orthopedic Implants market growth from 2019 to 2025.
• Businesses need to recognise the overarching impact of ageing and rising longevity and embrace the opportunities it will bring in the coming years.
• By 2040, around one in seven people in the UK are projected to be over the age of 75, but ageing should not be seen as a burden on society.
• While growth will remain steady in the developed markets, Asian and other emerging markets will be key for Home Healthcare market growth from 2019 to 2025.
• In Asia, where the elderly population is projected to reach 922.7 million by the middle of this century, countries such as India and Indonesia will still reap the population dividend until 2030, but the rate of aging of some countries is as fast as in the West.
• China faces challenges in the healthcare sector with an ageing population with the second half of the 21st century will be a hard landing for China's economy with around 150 million people older than 80 years old.
• By the middle of this century, the population of people aged 65 and older will outnumber children for the first time in history.
• By 2035, the number of Americans 65 years and older will outnumber children for the first time in US history.
• Labour plans to seize a staggering £300bn of company shares will hit pensioners and see investors flee Britain.
• By 2023, UAE life insurance and pensions are expected to grow at the fastest rate of 18 per cent per year, while currency and deposits will grow at an annual rate of 5 per cent.
• The size of the elderly population is expected to double by 2050, raising concern that long-term care workers will be in particularly short supply.
• Ageing: In the last 45 years, life expectancy at birth has risen across OECD countries from an average of 70 to 80 years and the share of people aged 65 or older is expected to grow significantly.
• Elderly population is estimated over 800 million in 2017, projected to surpass 2,000 billion by 2050: Rising geriatric population is coupled with growing number of chronic diseases and increasing number of long term care services drives the geriatric services market size over the forecast timeframe.
• Malaysia is expected to be an aged nation in 2030 when the total elderly population reaches 5.82 million or 15.3% of the total population.

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Last updated: 16 October 2019