February 2021

The watch changed the landscape for wearables. Since the introduction of the Apple Watch in 2014 and its subsequent sales of more than 33 million (as of 2020), Apple has been the dominant player in the US market. For the market of technology for older adults, it offered a smartwatch with built-in fall detection and other numerous health features, which it continues to introduce. By 2020, it became one of Apple’s 5 most profitable businesses and reached total adoption of 100 million globally. It changed many dimensions of life, including making people look and feel cool, reinforcing healthy behaviors -- including the importance of standing up when it notices you've been sitting too long. It made people want to track health variables they never thought they would track -- like heart rate variability, blood oxygen levels, or hand washing frequency and duration.

Aging in place – it’s emerged (again) during these Covid-19 times. Déjà vu all over again. But ‘aging in place’ is still a challenge and maybe a pipe dream for seniors in their late 70’s or 80’s.  Consider a few issues for starters:  chronic health conditions, mobility limitations, stairs, snow/ice, driving, dangerous hills for walking, cognitive issues, and social isolation.  You get the idea.  Then there is the cost of 24x7 home care, same as assisted living (which is $67K/year in Massachusetts, for example) or even Genworth’s 44-hours of home care ($53-54K annual).  That may work for the most well-to-do seniors.  But families are still in a position of finding and then managing the care workers, even with agency assistance. So Mom or Dad stays at home as long as feasible and even beyond – and that’s why the home care industry today is booming. And competing for the same workers as senior living firms pay their CNAs.