We are a society that is growing older by the minute. By 2030, there will be over 72 million people over the age 65 in North America alone. And one thing is certain: none of the elderly want to end up in a nursing home. In fact, elderly who can avoid lengthy nursing home stays, on average, have a median household wealth that is 1,130% greater than those who have stayed in a nursing home over 180 days.
We want to grow old in our homes, surrounded by our families and living a normal life. Technology is how we can enable those 72 million people to accomplish this goal. Aging in Place is the concept and practice of allowing the elderly to live in their own homes and reduce the amount of time spent in hospitals, nursing homes, or spent with an in-home nurse.
This market includes devices like, but not limited to:
Revenues will reach over $30 billion by 2017, and almost 70% of the over 120 million unit shipments will come from wellness peripherals.
Like the Mobile Healthcare market, the Aging in Place market will be affected by Big Data, wireless technology, cloud services, and a variety of cultural issues that affect whether a patient is willing or able to engage and manage their own wellbeing.
Semico Research's latest report, "Aging in Place: The Internet of Things for the Golden Years," examines the trends and issues facing the Aging in Place market. There is huge potential for growth, and there are many competing solutions for the various health issues affecting the elderly population. This report is meant to be a primer on the market, show areas of opportunities for growth and innovation, and provide examples of vendors already on the market who are making significant inroads.
The report is 97 pages long and includes almost 100 figures and tables. Companies mentioned include: ER-Card, AirStrip Technologies, Practice Fusion, LionsGate Technology, WigWag, ATW, Care Monitor, Diversinet, Asthmapolis, Moticon, Medtronic, CardioNet, HealthSpot, Scanadu, ExpressMD Solutions, Sonamba, Mosimo, iHealth Labs, Accu-Chek, Cellnovo, Dexcom, iBGStar, MyGlucoHealth, AdhereTech, AllazoHealth, Withings, AliveCor, WahooFitness, Mio Alpha, ICEdot, Avery Dennison, Corventis, iRhythm, 9Solutions IPCS, A&D Engineering, Analog Devices, Bosch, Boston Scientific, Cactus Semiconductor, Danfoss PolyPower A/S, Freescale, HeartMath, Honeywell, Intel, Maxim Integrated Products, Plessey Semiconductors, Qualcomm, Philips, STMicroelectronics, Texas Instruments, Ortho-tag, and others.