Attractive Industry Trends
AGING U.S. POPULATION
The total amount of Americans aged 65 and older (a demographic group that tends to need substantial medical services) was 49 million in 2016 and the US Census Bureau estimates that this number will increase to 77 million in 2034 “¹”. This is attributed to increased life expectancy and the aging of the Baby Boomer generation.
INCREASED NATIONAL HEALTHCARE EXPENDITURES
National health spending is projected to grow at an average annual rate of 5.4 percent for 2019-28 and to reach $6.2 trillion by 2028. Because national health expenditures are projected to grow 1.1 percentage points faster than gross domestic product per year on average over 2019–28, the health share of the economy is projected to rise from 17.7 percent in 2018 to 19.7 percent in 2028 “²”.