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The Silver Series I: Healthcare Technology for Seniors

Executive Summary

  • The United Nations (UN) forecasts that the 60+ age group will grow from 12.3% of the global population in 2015 to 16.5% of the global population in 2030.
  • In 2015, consumers aged 65+ accounted for around $7 trillion, or approximately 17%, of total worldwide consumer spending. In 2030, seniors are projected to account for around $15 trillion, or approximately 23.5%, of the total.
  • Our estimates suggest that seniors accounted for around 16.1%, or $1.3 trillion, of healthcare spending globally in 2015, and that they will account for approximately 21.6%, or $3.5 trillion, of global healthcare spending in 2030.
  • BCC Research valued the global market for senior-care technology at $3.7 billion in 2014, and the firm expects it to grow to $10.3 billion by 2020, at a CAGR of 18.8%.
  • Healthcare tech has been enabled by instant accessibility and Big Data, both of which can help improve patients’ quality of life and caregivers’ ability to perform their jobs.
  • Healthcare tech’s role in administering healthcare could be key to driving down overall costs, as this will become a matter of growing concern to those who pay for seniors’ healthcare.

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