Market Overview for Technology for Aging in Place

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hearing loss

Hearing aid pricing and weak insurance – older adults lose out

You may have seen that rechargeable hearing aid commercial.   What was most striking about the commercial to a hearing industry outsider is the upfront commentary on what sounded like the predatory price of hearing aids – providers “charge whatever they can get.”   Several interesting aspects to that commercial – but the most interesting was that comment.  Who is ‘they’, how much can they ‘get’, and is there insurance that pays for them?  This is in an era where hearing aids have evolved to incorporate embedded AI, fall detection, direct connections for phone calls, and numerous other features and functions.

Highlighting Eight Technologies from the 2019 Market Overview

The new trend – tech/services for older adults, not just tech.  When the 2009 Market Overview was completed a decade ago, there were gadgets galore, most introduced with maximum enthusiasm and a shoestring of cash.  Today, perhaps due to pending boomer bulge, innovators and their funders may be having a somewhat easier time, at least in some market categories – health, home care, transportation come to mind.  The other apparent trend is the enthusiasm of partners (health care, senior living, home care) to try out new tech-enabled services that target a problem or opportunity that may have existed a decade ago, but is truly apparent today. Finally, the pace of tech improvement is notable – lower cost and improved utility of on body (or in-room) sensors, predictive analytics, and device integration – with smartphones, health systems, and broader solution sets.  Here are eight of the 33 new offerings from the 2019 Market Overview (material from the vendor/news sites) that deserve a closer look – future posts will highlight others:

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.

Ten More Technology Offerings from CES 2019 -- Beyond Gadgets

CES 2019 – Gone but certainly not forgotten. Multiple blog posts and articles have surfaced since CES 2019 – including some offerings that should be recapped here. No doubt they would have been viewed in person with more time and better tennis shoes at the Sands Convention Center. There was ANOTHER convention center (LVCC) and various hotel events that remained sight unseen. The important insight about CES is that while some offerings were played in a previous year, the networking opportunity for innovators was too good to miss and so many returned.  Here are ten more, in alphabetical order:

Oticon Kaizn Wins Two 2019 CES Innovation Awards

01/10/2019

SOMERSET, N.J.—November 9, 2018—Oticon Kaizn™, the world’s first personal AI assistant for your ears, has received a 2019 CES Best of Innovation Award in the Software and Mobile Apps category, and has been named a CES Innovation Honoree in the Tech for a Better World category. The new, AI-powered tool brings to fruition the promise of personalized, human-driven hearing healthcare for hundreds of thousands of hearing aid wearers worldwide.

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