Yahoo Finance 30 Countries with Longest Life Expectancy in 2023
This article covers 30 Countries with the Longest Life Expectancy in 2023, with insight into current life expectancy trends, the healthcare industry, and how life expectancies vary across different regions. For a quick overview of the top 10, read our article 10 Countries with the Longest Life Expectancy in 2023. Life expectancy is a significant factor that helps determine the overall well-being and health of the people in a country. Life expectancy refers to the average number of years a person is expected to live based on age-specific death rates. Life expectancy trends throughout the globe are readily changing, even in the countries with the longest life expectancy, as recorded by various studies. As per data released by the World Health Organization (WHO), there has been significant progress in the life expectancy of people across the globe in the past few decades. From an average of 43.5 years recorded in 1950, it has increased to 72.6 years in 2023. This improvement can be a result of advancements in public health measures, medical science, and nutrition.
The Current State of the Healthcare Industry
In 2021, the global healthcare industry was valued at around $104.44 billion and is projected to increase to a figure of $272.76 billion by the end of 2027. This translates to a compound annual growth rate (CAGR) of more than 20% in the designated period. As of now, there are many well-known names in the healthcare market, such as CVS Health Corp. (NYSE:CVS), UnitedHealth Group Inc. (NYSE:UNH), and McKesson Corp.(NYSE:MCK) to name a few, all with revenues in billions of dollars. Where contributions to the field and new medical discoveries are concerned, CVS Health Corp. (NYSE:CVS) focuses on the physical and emotional well-being of the patients, whereas UnitedHealth Group Inc. (NYSE:UNH) offers insurance and consulting services. Meanwhile, McKesson Corp. (NYSE:MCK) has expanded its services in the US, Canada, as well as Europe. Unsurprisingly, all three companies have a market capitalization of billions, with UnitedHealth Group Inc. (NYSE:UNH) leading the charge with $486.6 billion, followed by CVS Health Corp. (NYSE:CVS) at $124.8 billion and McKesson Corp. (NYSE:MCK) coming with $53.3 billion. With the rising market capitalization and revenues of healthcare companies, it stands to reason that countries are moving towards efficient and advanced solutions and people are becoming more health-conscious. Governments are also playing their roles in improving life expectancy. Since seniors are the most at risk when it comes to health concerns, governments in different countries are increasing healthcare expenditures for them. The US is one such example, which spends 2.4 times more on the elderly, as compared to the younger population. Moreover, healthcare systems are directly linked to an increase in life expectancy across the globe. In a study conducted, researchers concluded that if healthcare is made available to the population as a whole, it could extend the longevity of life. This is also an indicator of the improved life expectancy in countries with advanced healthcare solutions and systems.
The Role of AI in the Healthcare Industry
Due to advancements in technology, artificial intelligence (AI) is readily implemented in numerous fields, with healthcare being no exception. As of now, the global AI market is believed to grow significantly. In 2020, AI in the healthcare industry was around $14 billion and has been projected to reach up to $119 billion before 2028. AI has also made substantial progress in the field of anti-aging drugs, which can effectively eliminate senescent cells. These are faulty cells that are a result of various conditions, like Alzheimer’s disease and cancer. In this year alone, Harvard Medical School was able to successfully develop chemical cocktails, which contain various agents that help with treating mental and physical disorders. After extensive successful testing on monkeys and mice, the experts believe that they will soon be able to revive human cells and reverse cellular aging. With the rise in AI healthcare and machine learning (ML) applications in the industry, healthcare can aid in further improving life expectancy. This could especially have a hold in countries such as Canada, Germany, Japan, China, and the US, which are leading the market in AI. Thus, it stands to reason that life expectancy in these countries is higher than most, and why they are not on the list of the 30 Countries with the Lowest Life Expectancy 2023.
Methodology
For our list of 30 Countries with the Longest Life Expectancy in 2023, we used two core metrics to support the study: Life expectancy by country of both sexes and infant mortality rate per 1,000 births. The reports used to ascertain the primary metrics include the Life Expectancy of the World Population Index by Worldometers and the Infant Mortality Index by CIA.gov. The reason we chose two metrics is that life expectancy is primarily used to offer a holistic overview of the health of the population. Meanwhile, infant mortality focuses on the relevant health risks that are specific to the younger population. Together, these two indexes offer a distinct perspective on the overall well-being and survival rate of the people of the country. We first assigned countries on each indicator a score of 1-30 (1 indicating the best rank and 30 the lowest on our list), to standardize our evaluation. To combine these metrics into a single ranking, we calculated the weighted averages of both metrics, while assigning a weight of 0.5 to each indicator. Finally, we ranked countries in descending order from 30-1 based on composite results, with 30 indicating the country with the shortest life expectancy and 1 indicating the country with the longest life expectancy on our list. Below is our complete list of 30 Countries with the Longest Life Expectancy in 2023.
Countries with the Highest Life Expectancy in 2023
30. Cyprus
Cyprus is among one of the top countries with the highest life expectancy in the world, with an upward trend in life expectancy statistics. In 2021, the average longevity stood at 81.21, which improved to 81.36 in 2022. Consequently, there was an increase of 0.19% in 2023, bringing the average lifespan to 81.51 years.
29. United Kingdom
As of this year, the UK has revealed its life expectancy to be 81 years for women and 79 years for men. According to a comprehensive analysis, the local environment, education, income, and access to healthcare are major drivers of this figure.
28. Canada
Life expectancy throughout Canada varies the most according to the provinces. In British Columbia, the average age is 85 years, whereas it can range from 73 to 83 years for areas such as Nova Scotia and Nunavut.
27. French Polynesia
Currently, the average life expectancy in the country stands at 83.69 years, an increase of 0.17% from the previous year. By the time 2100 rolls around, this figure is expected to reach 92.74 years.
26. Malta
The trend of life expectancy in Malta has been increasing, which is why it is on the list of countries with the highest life expectancy, 2023. In 2022, its average longevity stood at 82.91 and increased by 0.19% (83.06 years) at the start of 2023.
25. Ireland
While there has been a modest increase in life expectancy over the last couple of years, Ireland is still on the list of countries with the longest life expectancy in 2023. Since 2019, there has been a consistent annual growth of 0.18% in the figure. Currently, the average lifespan in the country stands at 82.81 years.
24. Macao
Life expectancy in Macao was around 59 years in 1950. Since then, it has shown a considerable increase as the healthcare systems have improved. Currently, the numbers indicate that the average age of a person in the country is 84.68 years.
23. Germany
Despite Germany having one of the world’s most progressive healthcare systems, it has a low life expectancy rate compared to other EU countries. Research cites cancer and cardiovascular diseases to this shortening the lifespan in the country. As of now, the life expectancy in Germany is 81.88 years.
22. Netherlands
Since 2012, the life expectancy in the Netherlands has not changed by much and continued to stand at 81.4 years in 2021. In the same year, women boasted an average life span of 83 years, while it was 79.7 years for men.
21. Israel
In the last few years, Israel has had a consistent increase in life expectancy of 0.18% each year. From 82.04 years in 2019, it has gone up to 82.49 years in 2023. The United Nations forecasted that by 2100, the life expectancy in the country will ascend to 92.31 years.
20. Denmark
Like most of the other countries with the longest life expectancy in 2023, Denmark has shown a 0.18% increase in longevity in the last five years. From 80.82 years in 2019, the figure has gone up to 81.40 years in 2023.
19. Belgium
This year, the country has recorded a higher life expectancy for women at 83.8 years, compared to men at 79.5 years. Regionally, Flemish has the highest longevity of 82.6 years, with Brussels following close behind with an average age of 81.6 years.
18. New Zealand
In New Zealand, all permanent residents receive free hospital care, which is why it is among the list of countries with high longevity. Currently, an average person in the country can live up to 82.8 years.
17. Austria
Since 2020, Austria’s life expectancy has consistently increased by 0.17% per year. In 2020, it was 81.63 years and went up to 81.77 in 2021. Currently, the average longevity stands at 82.05 years.
16. Luxembourg
In the 1950s, life expectancy in Luxembourg initially rose by 0.48% and fluctuated over the years. However, recently, it has been rising by a consistent percentage of 0.19%, standing at around 82.78 in 2023.
15. Switzerland
Due to its superior infrastructure, the healthcare system in Switzerland is often regarded as one of the best. This is one of the reasons why the country has a higher life expectancy than most at 84.25 years.
14. Portugal
Portugal’s life expectancy has increased by 0.22%, over the years, which is higher than various others on the list of countries with the highest life expectancy, 2023. As per current numbers, an average man in the country can live up to 82.65 years.
13. France
France is known to have one of the best healthcare systems in the world, which indicates that the country’s life expectancy is better than most. In 2023, the country’s longevity was recorded to be 83.13 years.
12. Finland
Life expectancy in Finland has shown an improvement of 0.20% over the last three years. In 2021, the average lifespan in the country stood at 82.14 years, which went up to 82.31 years in 2022. As of now, it stands at 82.48 years.
11. Slovenia
Life expectancy in Slovenia is higher in the Southwestern region as opposed to the Northeastern. Between 1950 and 2020, longevity in the country went up by over 15 years to 81.85 years in 2023. Click to continue reading and see 10 Countries with the Longest Life Expectancy in 2023. Suggested Articles:
Disclosure. None. 30 Countries with the Longest Life Expectancy in 2023 is originally published on Insider Monkey.