Final answer:
Baby Boomers, born between 1946 and 1964, have shaped society and the economy and are now impacting healthcare. They redefine aging and face health challenges that drive demand for medical services. Their large numbers and unique preferences continue to influence various aspects of life.
Step-by-step explanation:
The term Baby Boomer refers to the population born between 1946 and 1964. This group is significant due to its large size, approximately 74 million people, and because they are now reaching retirement age. Baby Boomers have had a considerable impact on society and the economy throughout their lives, and as they age, they continue to influence sectors such as healthcare. Innovations in medical technology, coupled with healthcare policies like the Affordable Care Act, have shaped and will continue to direct the demand for medical services.
Baby Boomers have unique characteristics and have been noted for redefining societal views on aging. They do not want to grow old in the same way their grandparents did, leading to the emergence of a wide array of products and services designed to maintain youthfulness and vitality. As they enter later life or the third age, they face common healthcare challenges including heart conditions, arthritis, and Alzheimer's which could increase the need for various forms of healthcare.
It is essential to recognize the ongoing impact of the Baby Boomer generation on different facets of life, including social structures, the economy, and the healthcare system. Their preferences and the sheer size of the cohort continue to engender both opportunities and challenges in these areas.