The Impact of the Rise in Survival Rates
Nurses are playing a key role in meeting global healthcare needs. As a trusted resource to deliver better care, nurses are responsible for the welfare, safety and recovery of patients. However, the nursing role today no longer focuses on solely the patient. Nurses are taking on expanded roles and more health care responsibilities. As health advocates, they are working to promote campaigns, education and prevention of illness and injury. Moreover, they are also influencing individual behaviours to improve their wellbeing and live in health for longer.
In celebration of International Nurses Day, Euromonitor International is exploring the trends impacting the rise of global survival rates and opportunities and challenges for businesses to meet new consumer demands.
The Global Rise in Survival Rates
Survival rates globally have boosted to age 65. The stable rise in life expectancy indicates steady improvements in overall health and wellbeing. This is in direct effect of the rise of incomes, better healthcare and education. It is also due to the fact that more people are choosing to live healthier lifestyles. Macau, Hong Kong and Iceland are the countries with the highest survival rates to age 65 in 2017.
Rising incomes globally play a key role in improving survival rates. Poor diets and a lack of food consumption leads to malnutrition and micronutrient deficiencies, which are major risk factors for illness and maternal and infant deaths. Steady income increases have enabled more consumers in developing countries to purchase enough food and basic healthcare products and services. For consumers in emerging and developed economies, consumers are spending more on improving their health. For example, an individual will pay for more frequent health check-ups and medications.
Higher education is another important driver for the global survival rates. More adults are learning to read, which is reducing maternal and infant deaths in low-income countries. It is also raising awareness of nutritional requirements and leading to improved survival rates in mothers and babies.
Challenges for the Acceleration in Population Ageing
Advances in healthcare and higher life expectancy are leading to an acceleration in the population ageing process in both developed and emerging markets. Healthcare systems are being challenged all around the world to keep up. To meet the demands of the ageing population, government budgets have a higher burden on social welfare and public healthcare. In developed countries, population ageing impacts labour productivity and hinders economic growth. On the other hand, in developing countries social support for the elderly remains inadequate, leaving older people particularly vulnerable to poverty.
Healthy Ageing Expands Business Opportunities
The rise in survival rates is impacting population growth worldwide. Businesses now have a larger pool of candidates to choose from, giving them access to more resources with a larger consumer market. Brands need to adopt a multi-pronged strategy to resonate with all aspects of the ageing process such as nutritional habits, lifestyle routines and mental wellbeing. Providing solutions and addressing core needs and values based on age-related perceptions will help organisations stay relevant and meet new consumer demands.