Market Overview for Technology for Aging in Place

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What's Next Innovation Competition Sponsored by AARP Innovation Labs!

03/14/2019

NEW ORLEANS, LA., March 14, 2019 -- This year's 16th Annual What's Next Boomer Business Summiton April 18th in New Orleans, Louisiana, features the annual Business Plan Competition where emerging companies pitch their ideas to a diverse panel of judges for feedback, funding and a $10,000 prize. The Summit includes angel investors, early stage and growth stage firms, and distribution partners all focused on investment in the longevity economy. 

Ideas from White House's Technology to Support Aging Adults

Technology and aging R&D – who knew about this task force?  Maybe you were also surprised to see this government report posted last week -- Emerging Technologies to Support an Aging Population.  Of course the aging of the baby boomers (oldest are age 73) is on the minds of lots of businesses and government groups, for various reasons.  Some see a market opportunity in services (home care, home health care, home remodeling).  Some see product sale growth of items (like DME equipment) for an aging population.  Some see housing opportunities or changes to make age-friendlier communities, and some see looming health costs associated with the 50 million individuals now aged 65+. It was a surprise, though, to see this White House report last week, and even more of a surprise to read what’s in it.

Consider: Aging in a Virtual World

Once upon a time, in a language far, far away…We used terms like long distance, remote, and telepresence to describe services and experiences that were taking place somewhere else. We were guided on how to cope with these remote processes where we were not present to manage or experience. And for the care recipients being managed, they were unable to communicate problems in their on-site, 'real' experience. Consider dementia care and the still-startling lack of cameras in these settings – despite family willingness to pay. These limitations seem so yesterday.  Even a telepresence player like Beam threw in the towel and refers to the world it now navigates as ‘virtual.’   Let's take a longer look into this virtual world as it relates to care of older adults and consider such offerings as:

Ten Technology Offerings From CES 2019 - Beyond Gadgets

Bright Lights, thick smoke, constant walking and avoidance maneuvers.  After taking a year or two off, returning to CES is a chore and a revelation – it clearly is the major event for new technology announcements. Gadgets, yes, too many smart wearables, including underwear, too many near misses of being run over by gangs of oblivious young guys staring at their phones. If there was a key trend in all of this racket, Sleep has become a tech obsession, the uptake of Digital Health is almost here, new variants of companions and assistants were pervasive, including Google Assistant inside everything and Amazon voice devices everywhere.

Philips Cares App Launches to Digitize the Aging and Caregiving Experience

01/08/2019

Role reversal, complexity and cost put tremendous strain on families as they go through the challenges of aging.

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