Meeting the challenges ageing population
One of the challenges that impacts our business is the ageing population. The social phenomenon recognized as the “graying” of Europe, according to the research of William H. Frey of the Brookings Institution think tank, stems from the finding that the median age in Europe will increase from 37.7 years old in 2003 to 52.3 years old by 2050. These figures are especially significant in terms of the future percentage increase of Europe‘s elderly population relative to its workforce.
The phenomenon itself is strongly connected to a higher life expectancy, which is, going one step back in this process, related to better medication and pharmaceuticals. Better formulas, ingredients and substances in pharmaceuticals have led to people having healthier and longer lives. There are also changes in the ways that an ageing population purchases, consumes and chooses its lifestyle. Besides product pricing, product quality or method of recycling, the consumption of a consumer good will become more heavily reliant on new ways of presenting convenience of use. The average elderly consumer will be the main target for the consumer products industry and, especially the Western World, will have enough money to afford a convenience lifestyle. The drive for more “convenience for the grey” in combination with further essential features will define general product design from dosage to usage.
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For more information please contact:
Ulrike Probst
Phone +41 52 674 8053
ulrike.probst@bosch.com |
Startpage Bosch.com
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