Dementia
tsunami – the health crisis of the 21st Century
Dementia
is being heralded as the health crisis of the century. There are
36 million people worldwide living with dementia. In the next two
decades the number of people suffering dementia is likely to double, creating
a new health crisis globally. The global cost of dementia will exceed
$600 billion for 2009 alone, and with a rapidly increasing elderly population,
is forecast to reach costs of $1.1 trillion by 2030. This elderly
population increase is likely to create a tsunami in terms of senior health
care, especially in relation to dementia and Alzheimer’s.
In
the U.S. the nation's 78 million Baby Boomers are at the forefront of this
coming Alzheimer's tsunami. They are now entering their mid-60s, and many
will be getting Alzheimer's, which now affects 1 in every 8 people over
65.
Dementia
and Alzheimer’s are crippling diseases, where specialist care is required
to sustain a quality of life. In the U.S. and the U.K. we rely heavily
upon health care services to support families when dementia strikes.
This dependency will put an increasing burden upon an already straining
health care system to meet the needs and costs of this elderly care.
The
Baby Boomer generation may be the last generation to have the independent
financial resources to plan and manage their own elderly health care.
But what happens to those unfortunate seniors who do not have excellent
health care plans, savings, or equity in a property that can be released?
The true and full costs of caring for those with dementia may not yet be
realized, as so many family and friends take on the burden of care.
Families in the East, such as China, Japan and Korea, have always taken
to caring for their elderly relatives. Whereas the modern Western
world had moved somewhat away from home and family care, and a booming
elderly care industry has grown up in response to this.
However,
the recent global economic crisis has left many without sufficient funds
to now realize into effective provision for care in their twilight years.
Now families once again have to step in and care for their elderly parents
Whether
you are dealing with the provision of care for an elderly parent, or thinking
about what provisions are in place for your own care in years to come.
One thing is for sure….the landscape of care for the elderly is changing,
and with the increasing demand for care support the whole senior health
care industry is likely to undergo changes over the next couple of decades.
