Türkiye Sigorta report examines longevity economy and demographic shifts

Türkiye Sigorta and Türkiye Hayat Emeklilik have released a report examining the economic and sectoral impacts of demographic shifts and increasing life expectancy. The report analyzes how longer lifespans affect healthcare systems, social security, individual savings, and insurance and retirement products.

Globally, the population aged 65 and over is expected to nearly double, rising from 862 million to 1.6 billion by 2050. While Turkey is expected to maintain a younger demographic profile compared to highly aged societies like Japan or Italy, it is projected that approximately one-third of its population will be 65 or older by 2050. Currently, Turkey’s life expectancy stands at 77.3 years, which is below the OECD average of 81.1 years.

The report highlights preventive health as a critical component of the longevity economy. It notes that while life expectancy may reach 78 years by 2050, individuals may spend roughly 11.4 years in poor health. Furthermore, the report emphasizes the role of artificial intelligence in managing rising healthcare costs by improving drug discovery, early diagnosis, and operational efficiency.