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A quick look at statistics,
quickly confirms the potential of the senior care
industry:
American Statistics |
- While people over 65 are expected to increase at
a 2.3% rate, the number of family members available
to care for them will only increase at a 0.8% rate.
- Source: The Center on an Aging Society, Georgetown
University.
- The U.S. population continues to age. The median
age rose from 22.9 in 1900 to 35.3 in 2000 and is
projected to increase to 39.0 by 2030. - Source: US
Census Data
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- In 2000, the oldest-senior population (those
85 and older) was 34 times as large as in 1900,
compared with the population aged 65 to 84 that
was only 10 times as large. The oldest-old
population is projected to grow rapidly after
2030, when the Baby Boomers begin to move into
this age group. - Source: US Census Data
- American businesses can lose as much as $34
billion each year due to employees need to care
for loved ones 50 years of age and older. -
Source: Metlife Mature Market Institutes.
- Alzheimer's disease and dementia alone afflict 4
million
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Americans, a figure expected to increase
350% by 2050 if no cure is found.
- About 80 percent of seniors have at least one
chronic health condition and 50 percent have at
least two. Arthritis, hypertension, heart disease,
diabetes, and respiratory disorders are some of the
leading causes of activity limitations among older
people.- US Census Data
- 8.9 million caregivers (20% of adult caregivers)
care for someone 50+ years who have dementia. -
Source: Alzheimer's Association and National
Alliance for Caregiving.
- 7,000 Americans turn 65 years of age each year.
By 2011, 10,000 people will be turning 65 each year.
And 85% will at some point require some sort of
in-home caregiving assistance.
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- Most people - nearly 79%-who need Long-Term
Care live at home or in community settings, not
in institutions. - Source: Agency for Healthcare
Research and Quality.
- Long-term care is experiencing a substantial
annual growth rate. By 2014, the Centers for
Medicare & Medicaid Services predicts an 83%
increase in government spending alone. By 2040,
the long-term care market is projected to grow
by 250%.
- 50% or 1 in 2 Seniors over the age of 65 will
require homecare assistance in one form or
another.
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- In July 2003, 35.9 million people were aged
65 and older in the United States, or 12 percent
of the total population. Among the older
population, 18.3 million people were aged 65 to
74, 12.9 million were aged 75 to 84, and 4.7
million were 85 and older. - Source: US Census
Data
- 34 million adults (16% of population) provide
care to adults 50+ years. - Source: National
Alliance for Caregiving and AARP.
- 30% of family caregivers caring for seniors are
themselves aged 65 or over; another 15% are between
the ages of 45 to 54. - Source: U.S. Department of
Health and Human Services.
- § The U.S. older population grew rapidly for
most of the 20th century, from 3.1 million in 1900
to 35.0 million in 2000. Except during the 1990s,
the growth of the older population outpaced that of
the total population and the population under age
65. - Source: US Census Data
- The older population is on the threshold of a
boom. According to U.S. Census Bureau projections, a
substantial increase in the number of older people
will occur during the 2010 to 2030 period, after the
first Baby Boomers turn 65 in 2011. The older
population in 2030 is projected to be twice as large
as in 2000, growing from 35 million to 72 million. -
Source: US Census Data
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- Census 2000 counted about 14 million civilian
non-institutionalized older people with some
type of disability. Older women were more likely
than older men to experience disability, 43
percent and 40 percent, respectively. - Source:
US Census Data
- Caregivers live an average of 480 miles from
the people for which they care. - Source: Long
Distance Caregiver Project - Source: Alzheimer's
Association LA & Riverside, Los Angeles, CA.
- By the year 2020, 12 million older Americans
will require long-term care services.
- In 2000, nine states had more than 1 million
people 65 and California, Florida, New York, Texas,
Pennsylvania, Ohio, Illinois, Michigan,
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and New
Jersey. Florida, Pennsylvania, and West Virginia
were the states with the highest proportions 65 and
older in 2000: 17.6 percent, 15.6 percent, and 15.3
percent, respectively. - Source: US Census Data
- In 2000, more than 50 million people provided
care for a chronically ill, disabled or aged family
member or friend. - Source: U.S. Department of
Health and Human Services.
- Elders represent the fastest-growing age group in
the United States. It is projected that the 75+
population will increase 70% by 2025.
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Canadian
Statistics
- In 1998, there were over 3,700,000 seniors age 65
and older in Canada. Over the next two decades, that
number is expected to almost double, reaching almost
7,000,000 seniors age 65 and over. - Source: Stats
Canada
- In Canada 1 in 6 family caregivers report being
in a "high stress group", where family
caregivers have a 63% higher death rate than other
people their own age. - Source: Division of Aging,
Stats Canada
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- 66 percent of family members who worked while
caring for an aging parent experienced conflict
with their jobs, including tardiness, lost hours
or income, or sacrificing of vacation time. -
Source: Stats Canada
- Employed individuals who care for their aging
relatives costs companies in Canada an estimated
16 billion a year. - Source: Watson Wyatt
Worldwide Study
- Recent changes in patterns of care provision
for the elderly, including a withdrawal of the
formal system, and increasing reliance on family
care providers. - Source: Ward-Griffin and
Marshall
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- Based on the 2001 Census, 35% of women aged 65
and over lived alone as did 16% of the men in this
age group. Living alone is becoming more common even
for the seniors aged 85 and over. Living alone is
also common for seniors receiving care due to a
long-term health problem. According to the 2002 GSS,
52% of women aged 65 and over and 18% of men 65 and
over who received care lived alone. - Source: Stats
Canada
- Based on the 2002 GSS, an estimated 1.0 million
Canadians aged 65 years and over living in the
community reported receiving care due to a long-term
health problem. - Source: Stats Canada
- Expected senior population increase in
Canada:
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* Source: Statistics Canada, CANSIM, Table 052-0004 and
Catalogue no. 91-520-X. 2005. |
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