wearables, smart watch

Monitoring the AgeTech market, one major trend at a time.  One of the key roles of an industry analyst is to detect and predict new trends that will make a difference in the lives of older adults. Consider the five year sequence of reports below, from oldest to most recent, from the introduction of voice tech to the Covid-driven rise of telehealth to smart homes to wearables to sensors to the current research underway (stay tuned!) about The Future of AI and Older Adults. The uptake of ‘voice first’ (versus ‘screen and keyboard first’) technologies in 2018 was a very big deal. It now seems obvious that people expect multiple modalities interaction with a technology. Now 100 million Americans own at least one smart speaker – now AI technology will enable the next generation of user interactions. Here are those reports:

The opportunity for embedded and AI-enabled sensors in smart clothing. The growth of the sensor market has created an opportunity for more focus on smart clothing, which has been around a long time, including for use in dementia care, but may have its greatest utility ahead. Researchers are beginning to notice the potential in the care of older adults, including the assertion that "Smart clothing is more natural to wear compared to the other wearables and covers a wider area for monitoring." Here are five examples of sensor-enabled smart clothing:

PERS Insider helpfully listed the most common PERS Google searches. The result was bleak and informative. Their website identifies the top item (16,000 searches, results with ads) as a 'medical alert bracelet'. Except for the deep-pocketed Medical Guardian which bought ads everywhere, these were all bracelets to help emergency workers determine a health issue. The next one, Medical alert systems (14K searches) turned up ads for multi-vendor sales sites with names like 10 best, 5 best in Florida, and look, there's Medical Guardian! The US News site was not an ad itself, but the article was filled with ads for devices. Ditto for ConsumerAffairs.com.' Best and worst companies – more ads -- and Medical Guardian. Even 'I’ve Fallen and I Can’t Get Up' is one of top four search terms (4800), no doubt from those miserable LifeAlert ads. 

When it comes to people, the US Census has all the data.  From its American Community Survey (ACS) summary files and detailed tables, we know as of November, 2021, for example, the US population (315 million), the number of housing units (133 million) and whether they are owner-occupied. Further, it tells  the number of people in geographic locations, education and marital status, employment status (173 million), the percent aged 65+ (more than 55 million as of the date of the most recent survey).  The questionnaire is publicly available on the Census website. While many of the questions are intriguing (and used for redistricting) and the data results are much-reported, technology ownership is rarely discussed.  So here are some snapshots of changes in the ACS data from 2015 to 2021: 

Staffing issues continue to plague senior care organizations. The news articles pile up – assisted living and nursing home staffing shortages; stranding older adults without home health care; keeping patients in hospitals longer because of lack of care; nursing home staffing crisis; Medicaid paying family members to provide care, low wages and low unemployment worsen care situation, and on and on. And the shortage of care workers is mirrored in other industries – signs are posted everywhere seeking workers in the midst of the ‘great resignation.’