DYK: Aging Requires Lots of Medical Advances
The older population-persons 65 years or older-numbered 46.2 million in 2014 (the latest year for which data is available). This group represented 14.5% of the population in the year 2014 but are expected to grow to be 21.7% of the population by 2040.* This is good news for the medical device industry because this growing segment creates the greatest demand for pharmaceutical, biotechnology, and medical device products. But, med device companies can only keep up with this mounting need if they have the infrastructure in place to run streamlined operations.
* To read the source article from Medical Design Technology, click here.