The Growing Aging Consumer Population – Living Longer, Living Smarter
Summary: Over the next decade, the global population of consumers over the age of 65 years, will grow almost +40% (2011-2020). These consumers are becoming more important to the Consumer Health market as their specific age related needs (convenient, ease of use, cost) and chronic conditions (pain relief, allergies, digestive, sleeplessness) will impact various OTC categories. Older consumers are living longer and smarter and want solutions to prevent, treat or manage existing conditions to maintain and/or improve their quality of life. In addition, as the trend towards individual health management and healthy lifestyles grows, it will create a need to improve OTC access and drive new innovation for OTC brands resulting in new users, increased usage and stronger growth for the OTC market.