Healthcare for the Elderly: The Rise of Geriatric Medicine in Latin America
By Mariana Romero Roy
An aging population is a concern not just in Latin America, but around the world. According to the World Health Organization, the percentage of all people over age 60 will almost double between 2015 and 2050, from 12% to 22%. What’s more, 80% of the elderly by 2050 will live in countries with low- or middle-income.
The Elderly in Latin America
In Latin America, the concerns related to the aging population are even more pronounced. The rate of aging in the region is one of the fastest in the world, with the percentage of people over age 65 projected to grow from 9 percent in 2019 to 18 percent by 2050. By 2030, more people will be older than 60 in Latin America than younger than 5.
The economic, financial and cultural realities also pose some additional challenges to caring for the elderly in Latin America. For one, the varying quality of care available across the region leaves Latin American countries largely unprepared to meet the needs of this growing number of aging patients.
In addition, a significant number of the over-65 population in the region can be classified as “functionally dependent,” meaning that they require the assistance of someone else in their day-to-day life. The number of functionally dependent individuals is expected to grow across the region by 2050. Refer to the chart below for a country-by-country breakdown.
A Burden on the Family
In Latin American communities and culture, the task of caring for the elderly typically falls to younger family members rather than hired professionals. This, in turn, can put a greater burden on Latin American communities that extends beyond just the elderly and the health care system, but their friends and families, as well.
Disparities in Elderly Care Across Latin America
Of course, while all Latin American countries — and countries around the globe, for that matter — must contend with caring for their aging populations, some countries face greater challenges than others. A 2022 analysis from IDB determined that better pension, healthcare and long-term care systems directly related to a greater quality of life in some Latin American nations compared to others.
For example, people over the age of 65 in countries like Panama, Brazil, Chile, Costa Rica and Argentina can expect more “high quality of life” years than those in countries like Venezuela, Honduras or Nicaragua. See the quality-of-life index table below for more information.
How Countries Are Adapting
A closer look at these figures indicates the countries that are adapting well to their aging populations, compared to the countries that have more work to do. The reasons that Chile and Costa Rica score high marks on the quality-of-life index, for example, have to do with their high scores in their access to and quality of healthcare services. In many countries across Latin America, access and quality are poor and uneven.
Long-term care services are another factor in Latin America that require improvements as the population continues to age. Across the region, low coverage, poor quality, and weak regulation and control mechanisms are all common issues. The reason that Argentina and Costa Rica stood out as countries with a high quality-of-life index is due to their relatively high coverage of individuals in need of long-term care.
Potential Solutions
The fixes for Latin America’s elderly healthcare challenges won’t come overnight, but there are many strategies large and small that can play a role in preparing countries to care adequately for their aging populations in the years ahead. In fact, some countries are already making good strides in this area. One good example is Uruguay.
This can be traced back to 2015, with the implementation of the Uruguayan National Integrated Care System. The goal of this universal care system is to provide comprehensive care to all individuals, no matter where they live or how much money they have. In particular, emphasis was placed on long-term care for the elderly, support for family caregivers and assistance for those with disabilities and children. This included programs such as telehealth, home care assistants and day centers for those with mild or moderate impairment. Uruguay provides a good model for other countries in Latin America to follow as they begin thinking through their elderly healthcare needs in the years ahead.
A 2022 research article published by the British Geriatrics Society identified several other needs for improving the care and quality of life for older people in Latin America in the years ahead. The authors identified the following as points of emphasis:
- Adequate training for healthcare workers
- The removal of inequities and disparities in care based on class
- More developed palliative and end-of-life care
- Education and emphasis on healthy aging
- Integrated and patient-centered care
Of course, these are lofty goals that will require significant effort to achieve, but they are essential to the health and well-being of all Latin Americans in the years ahead.
Key Takeaways for Health Care Companies
For pharmaceutical reps, equipment providers, and other players in the Latin American health care market, they now have an opportunity to be a part of the solution to the challenges of an aging population in the years ahead by providing the equipment and services that will be vital for providing care. In particular, a focus on the home healthcare market will be pivotal for this population and their care providers. This includes diagnostic and monitoring equipment such as blood pressure and blood glucose monitors, as well as items that are essential for hospice care, at-home therapy and more.
In a hospital setting, cutting edge diagnostic care will also remain essential in caring for this aging population. GHI has identified equipment such as angiography systems, CT scanners, EKG machines, endoscopy towers, fluoroscopy systems, gamma cameras, MRI machines and mammography systems as some of the top areas of growth in the years ahead. Anesthesia machines are another area that is expected to see massive growth across Latin America.
Beyond cutting edge medical technologies, practical elderly care equipment will also be in high demand in the years ahead. This includes items such as wheelchairs, walkers, canes, crutches, operating tables, physical therapy tables, CPAP machines and more.
Next Steps
Contact GHI to learn more about healthcare trends and their potential impact on the medical device and equipment industry in Latin America. Our team of researchers can provide the strategic analysis you need to gain valuable insights to support strategic decision-making in your industry.
