The Industry:

From the Federal Interagency Forum on Aging-Related Statistics: "The growth of the population age 65 and over affects many aspects of our society, challenging policymakers, families, businesses, and health care providers, among others, to meet the needs of aging individuals. In 2003, nearly 36 million people age 65 and over lived in the United States, accounting for just over 12 percent of the total population. Over the 20th century, the older population grew from 3 million to 35 million. The oldest-old population (those age 85 and over) grew from just over 100,000 in 1900 to 4.2 million in 2000. The Baby Boomers (those born between 1946 and 1964) will start turning 65 in 2011, and the number of older people will increase dramatically during the 2010-2030 period.

The older population in 2030 is projected to be twice as large as their counterparts in 2000, growing from 35 million to 71.5 million and representing nearly 20 percent of the total U.S. population. The U.S. Census Bureau projects that the population age 85 and over could grow from 4.2 million in 2000 to nearly 21 million by 2050. Some researchers predict that death rates at older ages will decline more rapidly than is reflected in the U.S. Census Bureau's projections, which could lead to faster growth of this population."