Highlights from the report …
The growth of the seniors market has led to corresponding growth in senior care franchise opportunities.
Senior citizens – people 65 and older – are now at the top of the heap in United States Census numbers. The senior age group is now, for the first time, the largest in terms of size and percent of the population in the United States. This age group grew at a faster rate than the total population between 2000 and 2010, according to a 2010 Census brief released in December, 2011.
According to the 2010 Census, there were 20.3 million people 65 and older on April 1, 2010, increasing by 5.3 million since the 2000 Census when this population numbered 35.0 million. Between 2000 and 2010, the population 65 and older grew 15.1%, while the total US population grew by 9.7%.
With the "baby boomers” now moving into the 65+ group, 10,000 people are turning 65 in the United States every day!
Within the overall category of older Americans, the 85 to 95 year olds experienced the fastest growth between 2000 and 2010. This group grew by 29.9%, increasing from 3.9 million to 5.1 million.
The 65 to 69 year olds grew the fastest. This age group grew by 30.4%, rising from 9.5 million to 12.4 million. The 65 to 69 year old group is expected to grow more rapidly over the next decade as the baby boomers move solidly into their senior years.
While women continue to outnumber men in the older ages, men continued closing the gap over the past decade by increasing at a faster rate than women. The largest growth rate for a 10-year age group within the older population was for men 85-94 years old (46.5%). Women in this age group also increased, but to a smaller degree (22.9%).
The number of men per 100 women in the older ages has increased over time as differences in male and female mortality continued to narrow, and more males entered into the older population.