Aging
Aging is in all Nordic and Baltic countries a key social issue, with many consequences on healthcare systems. There is nevertheless little homogeneity in the region, neither on the population structure nor on national healthcare strategies regarding aging.
These countries are of maximum interest for companies interested on this theme, both for their market opportunities (medium size market with high purchasing power and very positive attitude towards innovation) and for research collaborations, in particular in biomedicine, rehabilitation equipment or IT. Iloxia helps you find your path to success on these markets.
The countries can be roughly arranged in 3 groups:
- Finland, Sweden and to a lesser extent Denmark are all among the countries with the highest median age in the world (Finland is 4th, only Japan, Germany and Italy having a higher median age). The years of very low natality of the early 40's - with in Finland the addition of major population losses at war - were followed by a very strong but short baby boom, with a sharp drop in birth numbers already by the late 60's. (example: 2005 Population pyramid of Finland). The efficient but costly healthcare systems are at the forefront of innovation in optimizing the spending regarding aging.
-Iceland and to a lesser extent Norway are younger countries, where aging is a significant phenomenon but is less overwhelming due to a more steady birth rate. (example: 1990 to 2020 Population pyramids of Iceland). Service level is also excellent and innovation is a clear focus, though there is less pressure to reduce costs through innovation than in other Nordic countries.
-Baltic countries have fairly typical population structures for former Soviet Union and Eastern European countries. Birth rates dropped quickly after independence in the early 90's and remained low since then. (example: 2009 Population pyramid of Estonia). The median age is lower for now than in Nordic countries, but is forecasted to be among the highest in the world in some 25 to 30 years when generations born at the time of the Soviet Union will retire and depleted post-independence generations will form the majority of the working population. Low incomes of aging citizens, as pensions are among the lowest in Europe (258 €/month in average in Latvia, incomes can be as low as 100 €/month), is a factor that reduces the access of elderly to proper care.
2035 forecasts (UN estimates as of March 2009, Medium Variant)
Innovation related to aging care is very developed in the countries of the first group, in connection with a dynamic medical equipment and IT industry. Clusters have been created to combine companies and other organisations working on this topic. Finland and Sweden have also to face an extra challenge, with sparsely populated countryside municipalities having the highest average age. Keeping ageing people at home as long as possible remains more than ever a priority, and leads to a permanent development of monitoring and telemedicine solutions.
These 3 countries - first of them Sweden - also have a strong rehabilitation expertise, with a handful of global players in the field.
Norway focuses on similar themes, with also the constraint of taking care of aging citizens in remote communities, while Iceland's homogeneous population is a support for various research programs regarding aging, especially for gene researchers.
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Sweden
Denmark
Finland
Norway
Lithuania
Latvia
Estonia
Iceland