The demographic of aging adults combined with the urgent need to control health care costs is fueling demand for walking trails, wellness and fitness centers and activity programs, according to research reported in « Active Aging in America, Residential and Commercial Fitness. »
« The active aging industry refers to builders and housing, government and social services, private fitness businesses and equipment manufacturers, » explains Colin Milner, CEO of International Council on Active Aging (ICAA), which published the report. « These organizations are united by their need to find, serve and retain their older clients. »
Today there are an estimated 77 million baby boomers (born 1946 to 1964) and over 36 million people ages 65 and older. Older adults control the most wealth in the United States, and the baby boomers alone account for over US $2 trillion in consumer spending each year. The aging population is a significant demographic with buying power.
Older adults dealing with chronic disease also impact health care spending. People over 65 accounts for one-third of the $300 billion health care expenditures in the US, an amount expected to increase 25 percent by 2030 unless health promotion activities are successful. Since physical activity, healthy eating and a positive outlook are well-documented ways to improve health and quality of life, governments and private businesses are prioritizing physical fitness and wellness initiatives.
« Companies that do a good job of servicing the older adult are in the growth phase because there is a market for quality services, » said Milner « The fastest growing segment of the housing industry is the 50+ market. In health clubs, adults 55+ are the fastest growing membership segment. The newest lines of equipment feature easier access and simpler displays to appeal to older adults. The data in the report shows these are all growth areas. The only segment of the industry that is not growing is skilled nursing facilities. »
« This report is the first collection of market research on these different segments gathered in one place. It provides a unique perspective on industry trends and growth potentials, » pointed out Milner. « This is strategic information that can guide business decisions, make the case for investment and re-investment, support marketing plans and train the sales staff. »
Active Aging in America, Residential and Commercial Fitness, United States 2005 contains analysis and research for seniors housing (active adult, independent living and continuing care retirement communities), seniors centers and adult day care, fitness facilities, personal training and corporate wellness. Introductory sections feature information on the role of activity for successful aging, market forces, funding options and business-to-business opportunities.
The report contains a comprehensive list of demographic data on older adult growth rates, finances, health status and recreation and physical activity preferences. A Glossary makes understanding industry terminology easy, and the ICAA Functional levels and facility assessment guidelines are guideposts to what makes a business « age friendly. »
For more information on ICAA membership and the Active Aging in America, Residential and Commercial Fitness, United States 2005 research report, visit the ICAA web site at www.icaa.cc or call 866-335-9777 or 604-734-4466.
About Active Aging
The concept of active aging can be summed up in the phrase « engaged in life. » Active aging describes individuals who live life as fully as possible within the six dimensions of wellness (emotional, vocational, physical, spiritual, intellectual, social). Regardless of socioeconomic status or health conditions, individuals can participate in life as fully as possible.
Physical activity is an important wellness dimension that positively influences all of life’s areas by improving physical function and mental skills, improving outlooks, offering social contact and better preparing us overall for work and home. While focusing on physical activity to encourage health and functional ability, ICAA also provides information on older adults’ cognitive skills and mental health, work lives, intellectual pursuits, nutrition and social interactions.
About the International Council on Active Aging www.icaa.cc
The ICAA is the world’s largest membership association dedicated to changing the way we age by uniting and working with professionals in the retirement, assisted living, recreation, fitness, rehabilitation and wellness fields. We connect a community of like-minded professionals who share the goals of changing society’s perceptions of aging and improving the quality of life for Baby Boomers and older adults within the six dimensions of wellness (emotional, vocational, physical, spiritual, intellectual, social).
Media Contact
Colin Milner, CEO, International Council on Active Aging
Toll-free: 866-335-9777 (in North America); tel: 604-734-4466; cell: 604-763-4595
colinmilner [at icaa.cc
All of the above text is a press release provided by the quoted organization. globalagingtimes.com accepts no responsibility for their accuracy.