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Demographics, a powerful driver. You could argue the biggest drive in medicine
today. 1 billion children alive today,
all of whom will be adults within the next 18 years. All of them in the market
for your products.
And of course demographics, combined with urbanisation, makes these processes
easier. Because people
are better organised, we have a rising middle class, they are
instructed health care systems. 40 percent of the world
economy will be in Asia just within the next 3-4 years.
That's on Purchasing Power Parity terms. But remember, Purchasing Power Parity
means that if you use local labour to produce the same product
it's . It just doesn't work making it in America
and selling it to people in,
in Bangladesh. Actually, that's a last century idea.
But actually, it's interesting how little
Medtech has made in these emerging economies at the moment.
1 billion children alive today but there's another billion. 1 billion
people will be over the age of 60 in the next decade. And,
actually, most of those over 60-year-olds will be a nation quite soon.
So, a lot of the thoughts we had...
a lot of Medtech companies I know that are based in the U.S. think mainly about the U.S.
market and then they think about selling some in the UK and Europe.
This is the biggest opportunity there's ever been for Medtech if we
can get it right, but it won't be the same Medtech.
It'll be adapted, be sold differently, packaged differently,
simplified.By the way, I said 1 billion
over the ages 60 but, of course, 75 percent of over 85-year-old's are women as you know.
And 185 percent of 100-year-old's are women because men don't live very long.
More seriously than that 65 percent of all American wealth is owned by those over
the age of 65.
And since most of them are women, it means the most of the American wealth is
owned by
older women. In Italy by 2026 there will be 1 billion people over the age of 90.
Enough to swing every election and to decide, every health budget. And most of them
will be women.
It's a new medical market. Devices for over 90-year old's
the one million of them, coming up. Just in 1 country alone.
Actually, in Germany for you need 4 couples right now
and in Japan, you need 4 couples to produce a single great-grandchild.
The trouble is, you see, you either have to make people or you have to import them,
there really isn't anything else you can do.