This report provides a comprehensive outlook of digital health technologies used to improve the care of the elderly. It also explores solutions seniors could rely on to stay independent for longer.
The Big Picture
You have probably heard that the digital health market is booming. In the U.S. alone, companies raised $7.4 billion in 2019, according to Rock Health. The same source has found that $3.1 billion was invested in the first quarter of 2020 - before the COVID-19 pandemic.
And it's not just an American thing only. Another source, StartUp Health, claims that a total of $13.7 billion was invested in digital health companies across the world in 2019. They have also summed up all the investments since 2010 - and have found that, so far, a whopping $70 billion was invested in this sector!
Add the coronavirus pandemic to the mix and you get a market that is steaming hot with companies both big and small fighting for their piece of the ever-growing pie.
The goal is to provide you with useful information so that you too could participate and compete. Whether you want to start brand new or grow an existing digital health business, this report could help you.
The senior care market is poised for major disruption by digital health technologies, with companies developing both software and hardware solutions for people aging at home as well as those staying at retirement communities.
However, while technologies have been developed, we are still "not there." Most solutions tend to be complicated and many were just rebranded "regular" products for the seniors. Interfaces need to change so that more people could use them.
Nonetheless, the momentum is building and in this report we'll take a look at what the major companies and startups alike are doing to make people's golden years as enjoyable as possible.
On the other hand, these same technologies provide family members and care providers with an easier way to keep up with their relatives/patients. This report will explore the challenges, goals, technologies, and trends in tech-enabled senior care.
Finally, by going through and analyzing various senior care products and services, we touch upon technologies that have wider use cases, beyond care for the elderly. In that sense, this research brief provides an overview of a bigger market while highlighting those solutions that can have the biggest effects on senior care.
All it Takes is a Single Idea
You can hardly remove yourself from the digital health revolution. Whether you're a health professional, software developer, advocate, or a government employee -- this emerging trend is hard to miss. Heck, at some point, all of us will experience (and benefit from) digitized healthcare as patients.
The reports will help you get to know the market. You'll learn about specific segments of the digital health market, new and emerging technologies, who the main players are, and more.
All it takes is a single idea to help you:
- Find a new partner
- Get a new client
- Start a new project or company
- Get a new (better) job
Is this the Report for you?
The report is made for today's busy people; let us mention the three big groups:
You probably already know Big Pharma is investing millions in digital health technologies. After all, it is easier and more affordable to launch a digital therapeutic than develop a brand new drug with all the lab work and trials, let alone regulatory requirements, that come included with a brand new drug launch.
Digital health apps and services provide insurance companies and other payors with tools they could offer to their customers so they could lead healthier lives. As a result, payors get to save money and offer better, more personalized services -- i.e. the more you walk every day, the lower premium you end up paying. Ultimately, such incentives also lead to better outcomes.
With the growth of digital health, many non-traditional players have been entering the space -- software developers being one of them. They see there's money to be made by helping doctors and hospitals digitize their businesses while providing patients with that much better services. In that sense, the report helps software developers find their niches in the market and even potential partners.
And that's not all.
The report will help other parties, including (but not limited to):
- Investors in the (digital) healthcare or those looking to enter the space
- Contract Research Organizations (CROs)
- Healthcare business analysts
- Savvy physicians looking to familiarize themselves with modern technologies
- Government-employed healthcare professionals
- The NGO sector involved in the healthcare space
As well as for everyone else looking to advance his/her career by being ahead of the curve.
About this research brief
- Baby Boomers Are Retiring
- Nurse and Doctor Shortage
- The Aging at Home Trend
- Medication Non-Adherence
- Technology Is Not Easy To Use
- Staying in Touch
- Staying Independent
- Remote Health Monitoring
- On-demand Care
- Digital Assistants & Tabletop Robots
- Medication Management
- New Transportation Options
- New In-Home Care Services
- Virtual Reality
- End-of-Life Planning
- And more...
- Who’s Paying for the Technology?
4. Projects & Initiatives
- Senior Living Communities and Nursing Homes Are Adopting Tech
- AARP Working With Startups To Improve Senior Care
- Best Buy is Offering Digital Health Tools for Seniors
- Japan Post Group, IBM and Apple Working Together to Mobilize Care For the Elderly in Japan
- DISH Partners With Independa to Transform In-Home Entertainment and Senior Care
- City4Age Program For Active and Healthy Ageing
- A Wristband Project for Personalized Dementia Therapy
- NIA Supports Development of IoT-based In-Home Service with a $4.5M Grant
- Philips Cares Launches in the U.S. to Digitize the Aging and Caregiving Experience
- Philips Taps DispatchHealth to Provide Seniors in Arizona With On-demand Care at Home
- Accenture Launches AI-Enabled Solution to Tackle Elderly Loneliness
- MyndVR, Pico Interactive and Littlstar Donating VR to seniors to combat social isolation
List of Companies
- AllyAlign Health
- American Well
- Anelto Health
- Bloom Circle
- Circle Medical
- Comfort Keepers
- Doctor On Demand
- Dose Healthcare
- Essence Group
- Intuition Robotics
- Iris Plans
- Kindly Care
- Konsie Technologies
- Misfit Wearables
- Nymbl Science
- One Caring Team
- OneLife Technologies
- Pillo Health
- Proteus Digital Health
- Reemo Health
- SMART Brain Aging
- Starkey Hearing Technologies
- Tactio Health Group
- Triple W
- Vital Decisions