Senility Treatment Costs to Reach 36 Trillion Won in 2020

A report says that the annual treatment costs for senility diseases, including dementia, diabetes and obesity, will amount to 36.7 trillion won in 2020.

The report titled “Visions and Strategies of the Medical Service Industry in 2020” released by the Korea Institute for Industrial Economics and Trade (KIET) yesterday estimated the total cost for the treatment of four major diseases, such as cancer, cardiovascular diseases, cerebrovascular disease, and senility diseases based on the health insurance data and future population growth projections.

According to the report, the costs for the treatment of senility diseases totaled 6073.1 billion won in 2005, but the total cost is expected to increase six-fold to 36.7565 trillion won in 2020.

The report also forecasted that the average cost to treat senility diseases would increase by 32.5 percent annually during 2005 to 2010, four to five times higher than those for cancer (7.9 percent), cardiovascular disease (8.6 percent), and cerebrovascular diseases (7.2 percent).

jarrett@donga.com