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] 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.
• [New] 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.
• [New] Inadequacies in retirement savings are especially worrying for Singapore, as rising life expectancies and declining birth rates are resulting in rapid population aging: The elderly (aged 65 years and above) are expected to grow from 11% to 20% of the total population over the next 15 years.
• Malaysia is moving towards an ageing society by 2030, as the population projection shows decreasing proportion of younger age groups, while population aged 60 and above will be increasing in proportion due to declines in mortality and fertility.
• With the increase in the state pension age to 67 in 2021, Dutch retirees will receive the benefit for roughly 18 years on average.
• The share of the elderly and youth population dependent on the income generated by the economically active population will increase rapidly over the next decades as a result of high birth rates in Africa and an ageing population in many developed and developing countries.
• While growth will remain steady in the developed markets, Asian and other emerging markets will be key for Arrhythmia Monitoring Devices market growth from 2019 to 2025.
• By 2020, the number of people aged 60 years and older will outnumber children younger than 5 years and by 2050, 80% of older people will be living in low- and middle-income countries.
• As the impacts of climate change are increasingly felt around the globe, watchdog groups have pushed pension fund managers to keep in mind the ways that climate change will impact the global economy in the coming years and decades.
• While growth will remain steady in the developed markets, Asian and other emerging markets will be key for Specialty Medical Chairs market growth from 2019 to 2025.
• While growth will remain steady in the developed markets, Asian and other emerging markets will be key for Cardiovascular Information System market growth from 2019 to 2025.
• India's population growth rate is projected to slow rapidly over the next two decades, resulting in gradual ageing of the population, bringing additional fiscal challenges relating to healthcare, pensions and social welfare for senior citizens.
• Between 2019 and 2021, Gee projects that Houston and New York will add 79,000 and 68,000 Medicare-eligible seniors: While New York will still have a greater number of MA-enrolled seniors in 2021, enrollment growth in Houston is expected to outstrip New York.
• Dependency ratios over 1998-2050 are expected to increase from 52% to 65% in the United States; from 49% to 78% in the EU; and from 44% to 86% in Japan.
• According to a UK government impact assessment, women reaching State Pension Age are not projected to receive as much state pension as men until the early 2040s.
• Over the coming years, Australia will purchase 72 of the advanced fifth-generation fighter aircraft as part of the $17 billion AIR 6000 Phase 2 A/B program - which is aimed at replacing the ageing F / A-18A / B Classic Hornets that have been in service with the RAAF since 1985.
• The risk of Alzheimer's doubles every 5 years after the age of 65 years and 5% of all patients with Alzheimer's will start showing symptoms before the age of 65 years.
• Income inequality among older people is high in Portugal, even though safety-net provisions reduce the risk of old-age poverty, which is below the OECD average.
• The total population in Portugal recently started to shrink and is projected to fall below 9 million by 2050 from a peak of 10.7 million in 2009, due to a sharp decrease in the number of young people and working-age adults.
• By 2020, the number of people aged 60 years and older will outnumber children younger than five years in Sri Lanka.
• There are currently 20 million people over the age of 80 in China: By 2050 there will be 120 million - the current population of Japan or Mexico.
• According to the United Nations, the geriatric populace of persons more than 60 is expected to double to 2.1 billion by 2050 owing to good healthcare infrastructure.
• Spending on long-term care, pensions and healthcare is projected to increase over the next decades as a result of an ageing Irish population.

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Last updated: 21 August 2019