Boomer-Senior Tech Business

Possible business investment area for boomer and aging technology product and service vendors

Announcing New Services from Aging in Place Technology Watch

Helping organizations grow businesses in more ways.  When Aging in Place Technology Watch first launched in March, 2009, the intent was to mirror the services of a traditional Industry Analyst firm – client annual fixed price/time retainers, research reports, marketing white papers, and speaking engagements – offerings that are still very much in place and in use. But a few who read this blog know that over the past few years, the services have expanded – and could be of benefit to some blog readers. Contact laurie@ageinplacetech.com for client references, pricing, and to learn more about: >>> Read more . . .

Memo to marketers -- after the hype, press releases endure

An upcoming and splashy event looms – time to market.  We are in the fall show season and it shows. So the new product isn’t really tested past a slick prototype, but the brochures must get to the printers NOW. Why?  CES (or Connected Health, ATA, or the mHealth Summit) is on the calendar and innovation is expected, no actually, innovation is mandated.  For the price of a booth, press release, brochures, a demo device and all travel costs, marketers must market. Whether the product works? Not important for demo purposes.  Does anyone need the offering? See the hype for 2010 launch of Healthrageous and now see the 2013 shutdown. >>> Read more . . .

Senior products and services -- how about delighting the customer?

Reinventing the aging experience – who will transform this market? Over the weekend I saw a Woody Allen movie (he is now 77 and in trouble in Mumbai), read an article about Robert Redford (he is also 77), noted that Bill Cunningham -- the NY Times bicyclist-about-town -- is now 85, Betty White (accused of ageism this week) is now 91.  These are well-to-do and well-noticed folk – likely they feel secure in their limos, the NY streets or wherever. You wanna bet that none is considering or would ever consider moving into a CCRC or an Assisted Living, or wearing a PERS device around their neck, mobile or otherwise?   >>> Read more . . .

Aging in Place Technology Watch September, 2013 Newsletter

What goes around comes around and gets a new market sizing. You may have seen a rather giddy press release recently that sized the market for aging in place technology at a cool $30 billion by 2017.  The global market for elder care technologies will hit $7.2 billion by 2018 and as for home monitoring of seniors, the number of units of wearable wireless devices will climb from 3 million units (2011) to 36 million units by 2017, and users of family locator services (including PERS) will reach 70 million by 2016. It’s a good thing these sizings forecast three to four years from now. Tat will give everyone time to overcome barriers that hamstring utilization today -- like controlling the cost of device, figuring out who pays for them and will the target user actually be able to afford to use it/wear it to help them stay safe or will the doctor and supporting staff remain engaged to help the user keep their chronic disease(s) under control? >>> Read more . . .

Trending again – Technology for aging in place

What goes around comes around and gets a new market sizing. You may have seen a rather giddy press release recently that sized the market for aging in place technology at a cool $30 billion by 2017.  The global market for elder care technologies will hit $7.2 billion by 2018 and as for home monitoring of seniors, the number of units of wearable wireless devices will climb from 3 million units (2011) to 36 million units by 2017, and users of family locator services (including PERS) will reach 70 million by 2016. It’s a good thing these sizings forecast three to four years from now. That will give everyone time to overcome barriers that hamstring utilization today -- like controlling the cost of device, figuring out who pays for them and will the target user actually be able to afford to use it/wear it to help them stay safe or will the doctor and supporting staff remain engaged to help the user keep their chronic disease(s) under control? >>> Read more . . .

Ten events for your health, boomer or senior product or service

Finding the visibility and network that your offering deserves.  We are entering the trade show season, so it’s time to make a few go/no go decisions. You have had your product (or new version) or service ready for the past months or year. Your pilots have been successful and you now know that professionals, prospects and early customers are pleased with what you’ve done. You’ve read Ten Tips for Launching a Product or Service. You have first focused on the local/regional events. Now make sure your offering – whether it is caregiving, health and wellness, home safety, learning, engagement or just plain fun – is well-received at events attended by prospective customers, resellers, referring professionals, possible partners, and adjacent product categories.  Consider this list of national events (listed in date order). Study prior exhibitor participant lists, learn about typical number and profile of attendees, booth costs, hotel and attendance fees. Note any (of many) innovation award opportunities, if not now, then for the future. If you are not that familiar with any of these, consider going once as an attendee -- before exhibiting. Comments about other events are, of course, welcome: >>> Read more . . .

Do contests propel innovation in an industry that lacks infrastructure?

Incubators and contests -- do they enable innovation?  Paul Krugman's interesting article about GE’s competition to find a new design raises a question about how to boost innovation and lower its cost. If you read the article, entitled 'Complexity is Free' – you will discover how a simple contest, fielded internationally, generated a design improvement at almost no cost for GE: "The winning prize pool [was] $20,000, spread out across 8 finalists, with awards ranging from $1,000 to $7,000 each." So for $20K, GE got something it wanted, layered that something into a design process that enables continuous revision to designs without new infrastructure investment (the 'free' in the title.) Does anyone else find it interesting that there was no internal engineer who could figure out how to design a lighter-weight bracket component -- and that a contest was required? Or was this a publicity stunt to generate good will for GE?  >>> Read more . . .

The global market for elder-care technology products was valued at $2.7 billion in 2012

09/16/2013

According to a new technical market research report, Technologies for Long-Term Care and Home Healthcare: Global Markets from BCC Research (http://www.bccresearch.com), the global market for elder-care technology products was valued at $2.7 billion in 2012 and is expected to reach $3.2 billion by 2013. >>> Read more . . .

New England Home Healthcare Consortium Study Reveals Baby Boomers Fear Outliving Their Savings and Ability to Care for Themselves

09/13/2013

ENFIELD, Conn.--(BUSINESS WIRE)--

A new study* on aging trends, commissioned by the New England Home Healthcare Consortium (NEHHC) www.nehhc.org reveals that more than half of the respondents' greatest fear is outliving their wealth, followed by becoming too weak to care for themselves. >>> Read more . . .

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