January 30, 2018
The fastest growing healthcare markets are also the same markets that boast the largest population of older Americans, according to Cushman & Wakefield’s Vital Signs report. As Baby Boomers have aged in these markets, so has the demand for healthcare.
Future growth will not be distributed evenly across the United States. Instead, the markets with the strongest increase in population over 65 will experience the bulk of healthcare demand.
In 1980, there were roughly 25.7 million Americans 65 years or older. Fast forward 36 years later, and the number nearly doubled to 49.2 million, according to Vital Signs. Over the next eight years, that number is expected to jump by one-third to reach 65.2 million.
Vital Signs notes that the oldest segment of the population—which needs the most healthcare services—is also rising sharply. The number of Americans aged 85 and older has more than doubled since 1990, reaching six million in 2016.
“This dramatic growth in the older population will lead to strong growth in demand for all forms of health care, and more spending by all participants in the health care system, from individuals to insurance providers, to state and federal government,” the report states.
Specifically, cities in the south and southwest will see much faster growth in population over 65. “This is where the demand for healthcare services will rise the fastest,” the report notes.
Top 10 Cities with Biggest Increase in 65+ Population
For questions, comments or concerns, please contact Jennifer Duell Popovec