The population of Americans aged 65-and-over will nearly double over the next three decades, growing from 48 million to 88 million by 2050, according to a report commissioned by the National Institute on Aging (NIA) and produced by the Census Bureau.
Other key projections from the 175-page An Aging World: 2015 report included:
- By 2050, global life expectancy at birth will increase from 68.6 years in 2015 to 76.2 years in 2050.
- The global population of the “oldest old” — people aged 80 and older — will more than triple between 2015 and 2050.
“Older people are a rapidly growing proportion of the world’s population,” said Richard J. Hodes, M.D., director of the NIA. “People are living longer, but that does not necessarily mean that they are living healthier. The increase in our aging population presents many opportunities and also several public health challenges that we need to prepare for.”
Those challenges and opportunities are trends that are sure to impact the HME industry, as well, according to a statement from Medtrade, which noted that the new study lends credence to the argument that “demographics favor the industry.” Medtrade is preparing for its next fall expo and conference, which is slated for Oct 31-Nov 3 at the Georgia World Congress Center in Atlanta
“We are seeing HME products march steadily towards commoditization since the implementation of NCB, but this is not necessarily a bad thing in the long run,” said Laurie Bachorek, COO, MetroCare Home Medical Equipment, Dallas, speaking to Medtrade. “With our elderly population set to triple by 2050, I am highly optimistic. Medtrade will be a great place to find solutions and ways to capitalize on this opportunity.”