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Description

Description

“Baby Boomers are straightforward about their health management efforts and hold an understanding that wellbeing is an ongoing process of improvement. Feeling confident and in control of health management contributes to Boomers’ satisfaction with their health status even as underlying conditions become more prevalent. The COVID-19 pandemic has put an unwanted spotlight on many Baby Boomers’ wellbeing, with older adults categorized as an “at-risk” population. Boomers will be challenged to reexamine their overall health and take stronger precautions to prevent infection. Diminished in-person connections for social distancing purposes will be taxing on Boomers’ mental wellbeing, as this generation values meaningful relationships.”

– Andrea Wroble, Health and Wellness Analyst

This Report looks at the following areas: 

  • The impact of COVID-19 on Baby Boomers’ health management behaviors
  • The impact of COVID-19 recession on healthcare services and personal health management
  • Baby Boomers’ personal health perceptions may shift beyond COVID-19
  • COVID-19 will impact Baby Boomers’ reliance on in-person medical care

What's included

What's included

Table of contents

Table of contents

  1. Overview

    • What you need to know
      • Key issues covered in this Report
        • Definition
        • Executive Summary

            • Market overview
              • Top takeaways
                • Impact of COVID-19 on Baby Boomers’ health management
                  • Figure 1: Short-, medium- and longer-term impact of COVID-19 on healthcare services and personal health management, May 2020
                • The issues
                  • Boomers’ relationship with technology is complicated
                    • Figure 2: Baby Boomers’ use and interest in health tech, January 2020
                  • Worry doesn’t necessarily drive Boomers to seek treatment
                    • Figure 3: Baby Boomers’ health concerns and treatment incidence, January 2020
                  • Most Boomers don’t research Medicare coverage options
                    • Figure 4: Role and impact of healthcare, by younger and older Baby Boomers, January 2020
                  • The opportunities
                    • Boomers value connection
                      • Figure 5: Health and wellness goal to spend more time with family/friends, by generation, November 2019
                    • Older Boomers have a renewed zest for their health; young Boomers need a spark
                      • Figure 6: Any agree with personal health attitudes, by Baby Boomers and total adults 18+, January 2020
                    • What it means/what’s next
                    • Impact of COVID-19 on Baby Boomers’ Health Management

                        • Figure 7: Short-, medium- and longer-term impact of COVID-19 on healthcare services and personal health management, May 2020
                      • Opportunities and Threats
                        • COVID-19 positions retail health for growth; credibility is key to reach shoppers
                          • Absence of traditional connection spotlights Boomers’ mental wellbeing
                            • Boomers are pressured to shift shopping behaviors, brands must meet their needs
                              • Establish a telehealth relationship
                                • Figure 8: Health behaviors, by Baby Boomers and total adults 18+, January 2020
                                • Figure 9: Health behaviors, by Baby Boomers and total adults 18+, January 2020
                              • Impact of COVID-19 on healthcare services and health management
                                • Unemployment may impact access to insurance and prescriptions for young Boomers
                                  • OTC health products will follow patterns of 2007-09 recession; health safety is a new priority
                                    • How the COVID-19 crisis will affect Baby Boomer subgroups
                                      • “At-risk” label doesn’t align with Boomers’ health identity
                                        • Figure 10: Any agree with personal health attitudes, by Baby Boomers and total adults 18+, January 2020
                                        • Figure 11: Baby Boomers’ health concerns and treatment incidence, January 2020
                                      • During a recession, chronic health managers will drive healthcare spending
                                        • Figure 12: Health concerns of Baby Boomers, by Baby Boomers managing a chronic health condition, January 2020
                                        • Figure 13: Baby Boomers’ treatment of specialized health concerns, by Medicare coverage type, January 2020
                                      • How a COVID-19 recession will reshape Boomers’ health needs
                                        • Unemployment rates and dwindling retirement funds may impact mental wellbeing
                                          • Figure 14: Selected unemployment indicators, seasonally adjusted, April 2019, May 2019, April 2020, May 2020
                                        • COVID-19: US context
                                        • The Market – What You Need to Know

                                          • Boomers comprise a significant portion of the US population
                                            • More time and money to focus on health needs
                                              • Medicare is a welcomed health insurance shift
                                                • Recession patterns shed light on Boomer health management
                                                • Meet the Baby Boomers

                                                  • Boomers hold significant buying power
                                                    • Baby Boomers comprise the second largest generation
                                                      • Figure 15: Population by generation, 2019
                                                    • Boomers have money to spend on health management, but need to make it last
                                                      • Figure 16: Median household net worth, by age of householder, 2016
                                                    • Boomers have more time to focus on personal health and wellness
                                                      • Figure 17: Households with own children under age 18, by age of householder, 2018
                                                    • Older Boomer women are beginning to experience loss
                                                      • Figure 18: Distribution of households, by age of householder and type of household, 2018
                                                    • Medicare coverage is a welcomed transition for Boomers
                                                      • Figure 19: Medicare coverage, by younger and older Baby Boomers, January 2020
                                                  • Market Factors

                                                    • Recession patterns of healthcare and health management
                                                      • Unemployment may impact cost of prescription medication
                                                        • Figure 20: Unemployment rates of adults aged 55+, seasonally adjusted, April 2019, February 2020, March 2020, April 2020, May 2020
                                                      • OTC health products will maintain sales with an emphasis on private label purchasing
                                                      • Key Players – What You Need to Know

                                                        • Health confidence improves with age
                                                          • Rise in arthritis demands accessible treatment
                                                            • Time to phase out “OK Boomer”
                                                              • Focus on small health goals during big life changes
                                                                • Positioning retail locations as health destinations
                                                                  • Younger Baby Boomers are stuck in the middle
                                                                    • The connected generation
                                                                    • What’s In?

                                                                      • Aging with confidence
                                                                        • Figure 21: Personal health attitudes, by generation, January 2020
                                                                      • Easier access to arthritis relief
                                                                        • Figure 22: Select Baby Boomer health concerns and treatment incidence, January 2020
                                                                    • What’s Out?

                                                                      • “OK Boomer” promotes negative stereotypes
                                                                        • Major health changes as Boomers confront major lifestyle changes
                                                                          • Figure 23: Made small changes to improve health vs big changes to improve health, by generation, November 2019
                                                                      • What to Watch

                                                                        • Establishing retail locations as a destination for health management
                                                                          • Targeting younger Baby Boomers offers opportunity
                                                                            • Figure 24: Any agree with select personal health attitudes, by younger and older Baby Boomers, January 2020
                                                                          • Positioning connection as a way to manage mental wellbeing
                                                                          • The Consumer – What You Need to Know

                                                                            • Boomers are positive about their personal health
                                                                              • Medical care becomes a priority for Boomers
                                                                                • Feeling healthy mitigates health concerns
                                                                                  • Treatment for health concerns isn’t a priority yet
                                                                                    • Boomers are self-motivated, lessening the need for health tech
                                                                                      • Medicare coverage aids in health management efforts
                                                                                      • Personal Health Perceptions

                                                                                        • Boomers are realistic and reflective about their health
                                                                                          • Figure 25: Baby Boomers’ Personal health attitudes, January 2020
                                                                                        • Confidence in health status comes with age
                                                                                          • Figure 26: Any agree with personal health attitudes, by Baby Boomers and total adults 18+, January 2020
                                                                                        • Number of health issues controls personal health perceptions
                                                                                          • Figure 27: Any agree with personal health attitudes, by repertoire of health concerns, January 2020
                                                                                      • Health Behaviors

                                                                                        • Baby Boomers are attentive to health management
                                                                                          • Figure 28: Health behaviors, by Baby Boomers and total adults 18+, January 2020
                                                                                        • Boomers stick to traditional approaches for managing health
                                                                                          • Figure 29: Health behaviors, by Baby Boomers and total adults 18+, January 2020
                                                                                        • Older Boomers focus on medical needs
                                                                                          • Figure 30: Health behaviors, by older and younger Baby Boomers, January 2020
                                                                                      • Health Concerns

                                                                                        • Boomers are on par with the average adult for many health concerns
                                                                                          • Figure 31: Health concerns of total population and Baby Boomers, January 2020
                                                                                        • Physical health concerns burden Boomer women more than men
                                                                                          • Figure 32: Health concerns of Baby Boomers, by gender, January 2020
                                                                                        • Incidence of chronic conditions heightens all health concerns
                                                                                          • Figure 33: Health concerns of Baby Boomers, by Baby Boomers managing a chronic health condition, January 2020
                                                                                      • Treatment for Health Concerns

                                                                                        • Health concerns are more prevalent than treatment
                                                                                          • Figure 34: Baby Boomers’ health concerns and treatment incidence, January 2020
                                                                                        • Mobility concerns build with age and require treatment
                                                                                          • Figure 35: Treatment of health concerns, by younger and older Baby Boomers, January 2020
                                                                                        • Coverage makes specialized health concerns more accessible
                                                                                          • Figure 36: Baby boomers’ treatment of specialized health concerns, by Medicare coverage type, January 2020
                                                                                      • Health Tech and Media

                                                                                        • Functional tech solutions garner interest but have room to grow
                                                                                          • Figure 37: Baby Boomers’ use and interest in health tech, January 2020
                                                                                        • Connecting with Boomers online
                                                                                            • Figure 38: Baby Boomers’ use and interest in health media, January 2020
                                                                                          • Health tech can target Boomers seeking improvement
                                                                                            • Figure 39: Personal health attitudes, by Baby Boomers’ use and interest in health tech, January 2020
                                                                                        • Role and Impact of Healthcare

                                                                                          • Access to Medicare impacts access to care
                                                                                            • Figure 40: Role and impact of healthcare, by younger and older Baby Boomers, January 2020
                                                                                            • Figure 41: United Healthcare Medicare mobile ad and website landing page, September 2019
                                                                                          • Chronic health managers need extra support
                                                                                            • Figure 42: Role and impact of healthcare, by younger and older Baby Boomers, January 2020
                                                                                          • Low-income Boomers would benefit from additional resources
                                                                                            • Figure 43: Role and impact of healthcare on Baby Boomers, by household income, January 2020
                                                                                        • Appendix – Data Sources and Abbreviations

                                                                                          • Data sources
                                                                                            • Consumer survey data
                                                                                              • Abbreviations and terms
                                                                                                • Abbreviations

                                                                                                About the report

                                                                                                This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:

                                                                                                • The Consumer

                                                                                                  What They Want. Why They Want It.

                                                                                                • The Competitors

                                                                                                  Who’s Winning. How To Stay Ahead.

                                                                                                • The Market

                                                                                                  Size, Segments, Shares And Forecasts: How It All Adds Up.

                                                                                                • The Innovations

                                                                                                  New Ideas. New Products. New Potential.

                                                                                                • The Opportunities

                                                                                                  Where The White Space Is. How To Make It Yours.

                                                                                                • The Trends

                                                                                                  What’s Shaping Demand – Today And Tomorrow.

                                                                                                Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted.

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