Technologies for the elderly and caregiver gaining momentum

Technologies for the elderly has been on the rise, as evidenced in CES 2020. The event had many tech companies showcasing different solutions tackling problems around us.

The CES 2020, which was a 2.9 million square feet of space in Las Vegas, highlighted different technologies in the market. This year’s CES had technologies that involved technologies for the elderly and caregivers.

Most of the companies that had these technologies for the elderly and caregivers were in the health and wellness marketplace in the Sands Expo. The expo had about 25 percent of the exhibitors that participated in the event. They also had about 15 percent of the total square space used in the exhibitions.

 

Tim Bajarin, an analyst at Creative Technologies who attended the conference, said:

The role technology will play in health monitoring and self-treatment is already in great demand for eldercare and to anyone that needs to keep track of their health.

He continued by saying that the demand for technology is on the rise, noting that in the next 20 years, it will be one of the most significant growth markets. This will mean a lot of technology development in the area will be required. Investments targeting the elderly and homes will also be huge.

Growth of technologies for the elderly market

The market for the elderly in the US, for instance, is one of the biggest in the world. The demographics of over 50-year-olds is about 115 million people. Experts project that the elderly in the US will have purchasing power for technology products of over 84 billion in the next decade.
Companies are starting to take note of these demographic and developing technologies for the elderly. Proctor and Gamble (P&G), for instance, created a Gillette which can be used to shave the elderly. In all its years of existence, which is 182 years, this is the first time they have designed a product to be used to shave someone else.

It is not just P&G’ which has taken note of this ready market. Apple has also been on record developing products that target these demographics. Softwares in apple watch used to detect irregular heartbeats are examples.

Hearing aids have also helped the elderly, especially with new legislation about the hearing aids devices. The devices are projected to get cheaper with time and more accessible to those who need them.

LiveFreely also developed software that can be used in cases of emergency. They can notify caregivers in cases of falls and emergencies through a press of a button or a screen swipe.

This market will continue to grow for the next decade and more targeted technologies for the elderly will be introduced in the market. The elderly will also have hope about being able to survive through interacting with these technologies.

 

Featured image by Pixabay