Life Sciences 2020: The Future is Here

The Demographic Engine

generation accounted for 49% of the population aged 65 and over. In 2011, the oldest baby boomers reached traditional retirement age, 65, and their numbers are rising daily. Currently, there are 52.4 million people aged 65 or older in the U.S., and an estimated 10,000 people reach 65 every day. 2 By 2030 the number of people 65 and over is projected to exceed 73 million, accounting for 21% of the population. Baby Boomers spend more on healthcare and demand more health services than any other age group. 3 As the population ages, the potential market for new treatments, drugs and equipment will continue to grow.

The demand for health care is booming as the U.S. population continues to age. In 2005 the median age in the U.S. was 36.2 years; by 2018 it had risen to 38.2. By 2030 the median age is projected to top 40 for the first time; 1 making more than half of the U.S. population over age 40. The baby boom generation—those born 1946 and 1964—has shifted from being the dominant age group in the workforce to being the largest group of retirees As of 2018, the baby boom

U.S. POPULATION 65 AND OLDER

Forecast

73

0 10 20 30 40 50 60 70 80

1940-2010 +2.2% per year 2010-2030 +3.0% per year

52

Source: U.S. Census Bureau Millions of Persons 4 / CUSHMAN & WAKEFIELD

1 U.S. Census Bureau 2 U.S. Census Bureau 3 https://meps.ahrq.gov/mepsweb/ Agency for Healthcare Research and Quality