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Improving Consumer Health Prospects and Market Implications

March 2018

Consumer health prospects are improving, as reflected by a global rise in the survival rate to age 65, most significantly in emerging and developing countries. This trend has been backed by rising income and better education and healthcare. Improved consumer health prospects would support labour and consumer market expansion, while better health awareness creates opportunities for various sectors.

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Survival rate matters

Survival to age 65 indicates the health and wellbeing of a country’s population. The indicator helps businesses to gain useful information on a country’s labour force, consumer market, and healthcare and lifestyles trends.

A global rise in the rates of survival to age 65

Rising incomes, better healthcare and education and the growth of healthy living lifestyles have boosted the survival to age 65 rates globally. Sub-Saharan Africa has recorded the highest rise in survival rate during the 2012-2017 period, on the back of poverty reduction and better education, though the region still has the lowest survival rates worldwide.

Better health supports labour and consumer market expansion

A rise in the survival to age 65 rate contributes to population growth in a country, which provides businesses with a larger labour pool and a growing consumer market. On the other hand, governments in developing countries face the challenges of providing education and creating enough jobs for their growing working-age population.

However it also results in acceleration of population ageing

Higher survival rates have fuelled faster population ageing in many countries, including both developed economies and emerging countries, such as China and Brazil. Ageing will create new opportunities for businesses. However it also weighs on government budgets, impacting labour productivity and private savings.

Satisfying consumer demand for a longer and healthier life is central for business strategy

As consumer health prospects are expected to improve further, consumer demand for healthcare and wellbeing will continue to rise, shaping consumption priorities and motivations. Taking into account these factors is important for effective business strategy.

Introduction

Scope
Key findings
Survival rates to age 65: developing countries still lag behind
Survival rate matters

Drivers of Global Rise in Survival Rates

Factors affecting consumer health prospects
Rising income plays a vital role in improving survival rates
Brazil: higher incomes boost consumer spending on healthcare
Higher education attainment improves healthcare knowledge
Better public healthcare helps to reduce child mortality
Living environment is a determinant of survival rate
India: rural population faces sanitation and hygiene-related issues
Healthier living lifestyles contribute to prevent health problems

Opportunities and Challenges

Higher life expectancy
Growth in labour force
South Africa: massive youth unemployment is a huge challenge
Samsung Electronics: made in Vietnam
Consumer market expansion
Nestlé capitalises on Brazil’s growing consumer market
Rise in the number of elderly consumers
KIND sees a growing market for its hearing aids
Challenges of an acceleration in population ageing

Conclusion

The outlook for consumer health prospects remains positive
Market implications in brief
Actions that businesses can take
Lifebuoy: promoting good hygiene practices
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