Global aging to fuel health-care gains

Article Excerpt

A combination of declining fertility rates and increasing life expectancy continues to fuel the rapid aging of the population. According to a recent UN World report, the global population of people over 65 years old is expected to jump from 617 million in 2017 to 1.6 billion in 2050. As a percentage of the overall population, older people will double from 8% in 2017 to 16% by 2050. Medical science aims to help seniors better manage the aging process. As a result, the number of people over 80 is expected to triple, increasing from 137 million in 2017 to 425 million by 2050. Asia will have the largest senior population In absolute terms, Asia will see the largest increase in older people by 2050. North America will have a 44 million, or 75%, increase. Europe should see growth of 70 million, or a 54% increase. More and more baby boomers (born between 1946 and 1964) are entering retirement. Even though the average annual income…