How ageing societies shape the markets
Opportunities for Companies
The world’s population is getting older and older. According to the World Health Organization (WHO), the proportion of people over the age of 60 worldwide will rise to just over a fifth by 2050. There are regional differences: while the average age in African countries such as Tanzania is around 20 years, demographic change is already in full swing in industrialised countries. The consequences are far-reaching – not only for health systems, but also for the economy. Products and services that are specifically tailored to the needs of older people will therefore become more important.
Healthcare and Care
Demographic change is of particular relevance for the health sector. With older age, the need for medical care and nursing increases. Companies that offer innovative solutions for elderly care have great opportunities for growth. Outpatient and inpatient care services are urgently needed. At the same time, technologies such as digital care assistants, telemedicine, smart health devices and robotics/cobotics are gaining in importance. Examples of applications include sensors that detect a fall or apps that monitor the intake of medication.
Housing and mobility
The housing market is also undergoing international change due to the ageing of societies. Barrier-free apartments and age-appropriate living concepts such as multi-generational projects or senior living communities are already in vogue. Companies that specialize in the conversion of existing properties benefit from the demand for such solutions.
In addition, mobility in old age is playing an increasingly important role. After all, older people want to remain independent for as long as possible. In this respect, ride-hailing services or autonomous driving offer significant growth potential.
Consumer Goods and Leisure
Companies in the consumer goods industry also have to adapt to the aging population. Ergonomic household appliances, easy-to-open packaging or food for special nutritional needs will be in increasing demand in the future. In addition, leisure and educational activities are becoming significantly more important. This is because many older people have time, physical fitness and also the financial means to be active. Travel companies that develop offers tailored to seniors as well as providers of training programs or cultural events for older target groups are benefiting from this trend.
Financial services
As life expectancy increases, so does the importance of financial products tailored to the needs of an ageing society. Experts expect that solutions for private long-term care insurance, pension products or special financial advice for seniors will be in high demand. In addition, the need for inheritance and estate planning is growing.
Challenges and opportunities
Even though demographic change poses considerable challenges, this development also offers attractive business potential for companies that adapt to the needs of an aging society. The future lies in innovations that enable older people to live a self-determined life. By adapting products and services to the needs of seniors, companies can not only open up new markets, but also make a valuable contribution to society.