Technology for Aging 2022 Market Overview - Laurie M. Orlov Principal Analyst Aging and Health Technology Watch - Aging and Health ...
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Technology for Aging
2022 Market Overview
January 2022
Laurie M. Orlov
Principal Analyst
Aging and Health Technology Watch
Market Overview Technology and Aging January 2022 FORWARD What’s new in this version of the report? Most everything. Every line in this Market Overview has been reviewed and updated to reflect current trends, demographic data about older adults where available, policy changes, new products as well as inclusion of available data about what tech they own and/or prefer. To make space, some previous offerings were removed to enable inclusion of 30 recent entrants (some of them winners of innovation competitions). Pace of innovation is accelerating. The oldest baby boomer turns 76 this month. Recognizing the business opportunity for the ballooning aging population, including a critical shortage of care workers, multiple funders are rising to the challenge – and delivering new and interesting offerings. CES 2022 offered many interesting and likely trend-setting innovations, including ‘touchless’ everything, voice-enabled everything, and AI-enabled everything. Simplification awaits. Whether it is configuring a smart home, a new device, or a phone out of the box, the one-button start-up is still a future. Worse, continuous patch releases, upgrades and bug fixes can make every device into a new experience tomorrow. Standardization of interfaces may be more likely this year, but some firms deliberately limit interoperability to preserve user lock-in. Perhaps in 2022, that will begin to change. Here’s to the year of 2022 – with innovation and growth for all! Laurie M. Orlov January 2022 2022 Market Overview Aging and Health Technology Watch Page 2
Market Overview Technology and Aging January 2022 WHO SHOULD READ THIS REPORT? This report was revised in January of 2022, updating products, services, websites, and apps – and adding many new entrants. It serves as a market overview with a single purpose: it is intended to describe the need for, and the current market of, offerings to help aging adults live full lives in their homes of choice. As such, it is relevant to: • Vendors and entrepreneurs marketing to baby boomers and seniors • Government agencies and policy makers • Venture capital and angel investors interested in the boomer/senior market • Retailers with a focus on older adults • Startup incubators • Advocacy and tech training groups • Retirement Communities that serve independent adults • Senior living communities, and long-term care providers • Home care and home health agencies • Physician practices serving older adults • Hospitals and integrated service delivery networks • Geriatric care managers (Aging Life Care) • Naturally Occurring Retirement Communities (NORCs) • Caregivers, seniors, and family members 2022 Market Overview Aging and Health Technology Watch Page 3
Market Overview Technology and Aging January 2022 2022 TRENDS DRIVEN BY AGING AT HOME EXPECTATIONS The Covid-19 pandemic continues to shape the attitude of older adults about their future, further cementing their interest in ‘aging in place’. According to one survey, almost 90% of adults over age 50 currently live in their own home (78%) or the home of a family member or someone outside the family (10%). By the end of 2021, senior living occupancy had recovered (reaching 80%) but still below pre-pandemic levels. Consider that the fastest growing demographic soon will be households in their 80s and 90s (see Figure 1). Baby boomers dominate housing markets nationwide, owning 55% of all homes. But as the calculators of net worth by age indicate, unless a home is sold, the 80+ population will not have enough money to pay their projected $300K of health-related costs. Figure 1 : JCHS Housing America’s Older Adults The wave of aging adults will impact both housing and the workforce. As typically defined, aging in place reflects the desire or ability to remain in one’s own home. While other options include variants of senior living and in-home care – both costing an average of $4500/month nationally – these will likely be out of reach for most middle class homeowners. And in 2021, more data emerged about solo agers, those that have no spouse, partner or children, who make up 12% of the 50+ population. These individuals will likely make up a key portion of the aging population by 2030, when all baby boomers will be 65+. In addition, the fastest growing participant age in the labor force are adults aged 75+, growing to 11.7% by that same year. Home is the hub for life and care in the near term. In addition to wanting to remain in their own home, through 2021 and beyond, older adults are receiving a growing percentage of their health care at home. During the pandemic HHS declared w ‘public health emergency,’ enabling reimbursement of telehealth services in the home. That declaration has been extended through through January 2022. The resulting changes – like home visits for established patients – are described as permanent. And much of the reimbursement policy is likely to be renewed. 2022 Market Overview Aging and Health Technology Watch Page 4
Market Overview Technology and Aging January 2022
Paid home care picks up where families and senior housing leave off. During 2021, demand
for aging at home with home care grew sharply as a result of the ongoing pandemic. While
wages are rising due to scarcity of workers, both senior living and home care still rely largely on
the same pool of relatively low-paid workers, and care in many areas is quite difficult to find.
On average, home care fills a care gap of 20-27 hours per week at a presumed lower cost
($22.50/hour paid to agency, $13-15/hour to the worker), than a move to assisted living, though
annual costs are approximately the same.
Shortage of workers will worsen in 2022. Also during 2021 non-medical home care work (or
personal care aide) became one of the fastest growing job categories in the US. Pay to the
worker averages around $13/hour for the worker. And for much of the industry, median
caregiver turnover rate averaged 62% in 2020 and staffing challenges are top of mind for home
care agencies (see Figure 2). As the projected shortage of home care workers worsens –
especially in urban areas in which workers cannot afford to live – predictions are dire, expected
to amount to 7.8 million unfilled jobs by 2026.
Professional caregiving is a conundrum of high costs and demand for workers. The most
recent data indicates that 22% of adults aged 85+ need help with personal care. As families and
seniors compare the costs of aging at home to aging in a senior living community, the cost
projections begin to look similar – with the median monthly cost of full-time home care now at
$4480, versus $4300 per month for senior living, according to Genworth Financial. And there
has been an 88% increase in the number of open Certified Nursing Assistant (CNA) jobs.
Projected change 2020-2030
50%
47%
40%
30% 34%
20%
10%
8%
0%
All Personal care aides Home health aides
Figure 2 Growth in Personal Care and Home Health Jobs Sources: BLS/PHI
2022 Market Overview Aging and Health Technology Watch Page 5Market Overview Technology and Aging January 2022
Stark consumer economic realities challenge senior living occupancy... Median net worth of
the 75+ inclusive of home equity is $264,800. Low level of savings slows moves to assisted
living, where move-in age is closer to mid-80’s (see Figure 3). With more than half of assisted
living residents aged 85+, this has become a frailer demographic, needing help with multiple
ADLs. But boomers are right behind them – and will be even less able to move in. They have
simply not saved enough – holding an average retirement savings portfolio in their 70’s of
$186,800. That’s not enough to live on after retirement and later afford more than a few years at
a private assisted living community with an average nationwide monthly now at $4091.
…And life expectancy at age 65 is still substantial, especially for women. For example, most
recently updated life expectancy used in pension fund calculations projects that women aged 65,
on average, can expect to live until they are 87.4; men can expect to live on average to be 84.7.
But the combination of limited savings and longer life expectancy has raised fear of outliving
assets. Worried about outliving their savings, the labor force participation rate of those aged 75+
is expected to rise over the next 8 years.
Family Net Worth by Age
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$-Market Overview Technology and Aging January 2022
Policy Makers Care More about Aging and Caregiving
Caregiving and other demands of an aging population is gaining attention. AARP and the
National Alliance for Caregiving (NAC) published the 2020 Caregiving in the US report,
identifying 53 million Americans as caregivers, 5 million more than in their 2015 report. The
Older Americans Act was re-authorized in 2020 with a 35% increase in funding. During 2020, a
follow-up report was released detailing progress from the 2019 White House technology
innovation initiative, including numerous grants and programs launched nationwide. In addition,
the VA launched an expanded Family Caregiver Assistance program.
Data breaches and scams have worsened, including Covid-19 and stimulus fraud. The
closing of physical locations like Social Security offices or bank branches has yet to accelerate
the urgency of helping offline seniors to move online. Seniors and their families should be
cautious, however, as 2020 also turned out to be another memorable year for healthcare data
breaches. In one ransomware attack, the healthcare organization paid the ransom. In 2021, the
FTC presented its annual report to Congress, Protecting Older Consumers, showing the sharp
difference in fraud loss for the oldest population (see Figure 4).
Figure 4 Rising median loss via scams – worse for 80+ [Source: FTC]
DID YOU KNOW Nearly 40 million people had data
exposed in healthcare breaches reported to the federal
government in 2021
2022 Market Overview Aging and Health Technology Watch Page 7Market Overview Technology and Aging January 2022 THE PANDEMIC SHARPENED FOCUS ON TECH ADOPTION OF THE OLDEST Despite enablers, tech adoption by the oldest adults has not kept pace. The surveyed ubiquity of technology has led to a belief that it is everywhere it needs to be, with media assumptions about the benefit of smartphones and online tools, ownership of devices, or access to broadband speeds. But as of 2021, barriers remained, never more starkly revealed than in the initial (online only) sign-up process for vaccine appointments – which ignored offline seniors. It is becoming harder to buy a phone or TV that isn’t smart. But the AARP survey highlights low adoption of other useful categories among those aged 70+ (see Figure 5). Figure 5 AARP Survey of Device ownership of the 50+ [Source: AARP 2021] 2022 Market Overview Aging and Health Technology Watch Page 8
Market Overview Technology and Aging January 2022
Link-Age Connect surveyed tech adoption of the oldest in 2011 and 2021. Consider the
comments about tech adoption of the oldest adults – still issues after all these years. Some of the
2011 questions referenced just-emerged tech. Smartphone ownership changed from 3% in 2011
to 84% in 2021 – but the first iPhone was only shipped in 2007. Similarly, only 3% had a tablet
in 2011 (the iPad first shipped in 2010), while 60% had them in 2021. Medical alert pendant
ownership plummeted – overall from 35% in 2011 to fewer than 10% in 2021, perhaps due to the
availability of smart watches. There was no telehealth access in 2011, but more than 20% were
having virtual doctor’s appointments by 2021. Similarly, there was little smart home technology
available in 2011, but by 2021, Roomba vacuum cleaners and smart doorbells had reached 12%
of responders. See comments from the two surveys in Figure 6):
2011 survey comments 2021 survey comments
Worried about dependence on
Got along all my life without this
technology. What happens when we
technology, so I'll continue without it
lose power?
Do not believe in giving out information It opens up the world of entertainment
on the Internet nor banking nor use of and education, as well as cyber
credit cards. criminals.
Can do if given careful instructions and I My son is a computer technologist, so I
write down in a book. rely on him.
I am very much interested. My Please stop changing the programs so I
grandchildren make me feel like a have to learn something new often to do
dinosaur. the same things I did before.
I read the newspaper and like to get my I wish it had been available at home
mail from the mailman. many years ago.
Beware thinking computers connect
Sometimes I think it is ruining society.
people - they do not - they fragment us
Kids are not taught to communicate.
more.
Technology is an asset and a challenge.
I have vertigo. Would like technology to
It needs better encryption and voice
assist in fall prevention.
control.
I am interested in learning more about I really don't care about technology
diabetes monitoring. unless it comes from my doctor.
I have a PhD. I cannot figure out how to
I am 90 and can make limited use of the
use the technology I bought, so I
computer. I would like one-on-one help.
returned it.
In general, I find it too complicated and
Cost of services offered is unreasonable.
too expensive.
I like it - it keeps me informed and
I like cell phones to call and text.
entertained.
Figure 6 Link-Age technology survey comments – 2011, 2021
2022 Market Overview Aging and Health Technology Watch Page 9Market Overview Technology and Aging January 2022
Medicare Advantage features tech-enabled services in the home. During 2021, 42% of
Medicare beneficiaries (26 million people) were enrolled in Medicare Advantage plans. Given
the growth rate, expect further growth in 2021. Besides further solidifying support for telehealth,
most Medicare Advantage plans provide limited hearing, dental, fitness, and vision health
benefits. In 2022 some plans will also offer other services under the Covid-19 emergency such as
pest control, food and delivery of fresh produce, and non-medical transportation. And senior
housing companies are increasingly offering Medicare Advantage plans to residents.
The senior housing industry sees technology as a growing priority. The pandemic placed a
spotlight on major gaps in senior housing use of technology. With occupancy still down as a
result of the pandemic, 2022 will see the industry make more technology investments.
Broadband access, video, telehealth capabilities, and digital marketing will have growing
importance.
Fall detection innovations move off body into the room, enhanced with AI and radar.
Mitigating fall risk is increasingly important for the wellbeing of older adults. New offerings
have emerged recently seeking to detect falls without a wearable using radar and AI. These
include remote monitoring offerings from SafelyYou, EchoCare, and Vayyar (included in the
new Alexa Together offering from Amazon).
Investors ramp up interest in the older adult market. Population demographics matter – and
2020 saw the growing interest investing interest in the older adult market. Primetime Partners,
Ziegler Linkage, Generator Ventures, Toyota AI Ventures and Nationwide are all investing.
Numerous startups have emerged around the world representing growing interest in improving
older adult quality of life (see Figure 7 Gerontechnologist.com Age-Tech Market Map 2021.)
DID YOU KNOW that 36 million adults aged 65+ falls each
year? According to the CDC, the estimated cost of falls across
the U.S. healthcare system is $50 billion annually.
2022 Market Overview Aging and Health Technology Watch Page 10Market Overview Technology and Aging January 2022 Figure 7 The 2021 Age Tech Market Map from Gerontologist.com 2022 Market Overview Aging and Health Technology Watch Page 11
Market Overview Technology and Aging January 2022
TECHNOLOGY AUGMENTS CARE, DOES NOT REPLACE SERVICE OR FAMILY ROLES
The categories of technology offerings required to age successfully include independent market
segments – each useful – but together, they complete a puzzle for a fulfilling and interactive life
for older adults, ideally enabled with the support of families and caregivers (see Figure 8):
il A ec ri y
e i eo ch
ell r hone fe y n oice hel
T le ec ri y er
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e er ng ge en o e n
oice i n n ci iy
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e rning n
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eg cy Telehe l h
c ion n e ic ion g
e rning i e e g
or ing i ne r c er
ol n eering oice i n
in nci l ellne e l h e r le
Figure 8 The Interdependency of Technology Categories for Older Adults
Communication and engagement. For all ages, isolation is increasingly untenable without the
technology to connect to others. As 2022 begins, tech vendors will promote a gaggle of gadgets
to mitigate all barriers, emphasizing voice and ‘no-touch’ offerings over tablets. The 2022
versions of voice-first interfaces (like Amazon Alexa, Google Home, or Apple’s Siri) raise the
bar on in-home tech experiences for the growing numbers of owners, now 48% of all households
with Internet access.
Voice assistants and hearables. Fifty-six percent of US adults as of January 2022 are using
voice assistants. The hearing technology market is being disrupted by Blue-tooth connected
hearables. Led by Apple, these dangling devices have legitimized a form factor of visible device
in the ear. The only requirement? A smart phone app for adjustment. 2021 saw more innovation
in hearing aids that are higher function, lower cost, or more available through direct-to-consumer
channels, self-configurable by user. Most are still not reimbursed by insurance and for those
2022 Market Overview Aging and Health Technology Watch Page 12Market Overview Technology and Aging January 2022
with mild-to-moderate hearing loss, hearables will suffice – and potentially attract those who
don’t wear any hearing aid because of fear of stigma.
Safety and security. ‘Aging in place’ requires a home free from obstacles and dangers,
especially for the 45% of women aged 75+ who live alone. The traditional PERS pendant
industry’s growth is slowing. But the pivotal entrance of Apple’s fall detection legitimized the
market for caregiving smart watch wearables with fall detection. Other vendors are offering
voice-enabled PERS services – including CarePredict’s CareVoice and UnaliWear’s Kanega
Watch. Other sensor-based in-room approaches to fall detection are now in-market (like
Vayyar Home (partnered with Amazon), Essence’s radar or SafelyYou’s AI/Video offering).
Health and wellness. The abrupt shutdown of health visits during the pandemic triggered
frenetic adoption of telehealth – now firmly entrenched as a care option – and even offered on
LG TV’s Health Platform from Independa or solutions like Sirona.TV. As McKinsey noted,
2021’s usage was 38 times that from pre-pandemic – and many health practices now offer
telehealth as a visit option. Remote patient monitoring (RPM) is also on a growth trajectory, and
is even a service offered by some home care agencies.
Learning and contribution. Experts have noted that once the basic needs of communication,
safety, and health are addressed people have both the need and capacity for more. This includes
learning, staying aware and active in society, contributing through online volunteering and
training growing numbers of older workers. They also are leaving a legacy of photos and stories
for their loved ones. Organizations like AARP and OATS Senior Planet Digital help an older
person learn a broad range of new skills.
Surveyed caregivers underutilize technology. According to the May, 2020 survey of 1499
caregivers by the National Alliance for Caregiving and AARP, 53% of responders indicating use
of any of tools (see Figure 9). This is only a modest increase over the 2009 report, in which 45%
reported use of any technology. Recognizing that caregivers themselves may be aging, the report
surveyed an additional 160 caregivers aged 75+, included in the 1499 total.
Any of these 53%
Tracked recipient's finances 35%
Personal health records 30%
Assistive devices 17%
Electronic lists/spreadsheets 14%
Checked up on recipient 13%
Figure 9 Caregivers’ Use of Technology from AARP/NAC Caregiving in the US
2022 Market Overview Aging and Health Technology Watch Page 13Market Overview Technology and Aging January 2022 2022 Technology Trends that Will Help Older Adults Across all consumer devices, wireless charging pads and stands have made coping with mobile technology easier -- charging plugs are less likely to wear out before the device is retired. Across many devices today, consumers will find assistive features (for vision and hearing limitations) that are built in. But older adults would benefit greatly if vendors and stores selling devices (or providing training) spent time introducing them to those features – considering their overall lack of confidence in technology use (See Figure 10 and Figure 11). Figure 10 Tech adoption by age of older adults [Source: Parks Associates 2021] 2022 Market Overview Aging and Health Technology Watch Page 14
Market Overview Technology and Aging January 2022 Figure 11 Confidence in use of technology [Source: AARP 2021 Digital Literacy] AI is behind the scenes – for caregiving and smart home. The availability of a growing trove of data about our behavior has enabled the ever-smarter world of voice interactions and sensors. But the accumulation of this behavior information over time enables analytics that will augment simple monitoring and alerts. Pattern analysis, dashboards, and predictive analytics have permeated tech innovation for years, including healthcare, but have been slow to enter the world of caregiving for older adults. That is changing – and with the and new entrants, expect within the next few years that the smart home space will offer ‘the home as a participating caregiver, with pattern analysis, detection of change, and prediction of risk in the home (see Figure 12). Wearables became more visible – enabling PERS on the wrist. Wearables have become a growth market (see Figure 12). Use by older adults is limited, though Apple Watch validated use of fall detection in a wrist worn device and multiple chronic disease wearables will likely be adopted soon enough. 30% of the PERS industry is mobile, validating the emergence of wearables other than pendants to take out and about. Caregiver watches provide a less visible safety alternative when living alone, walking the dog, or afraid of falling. And BellPal, Freedom Guardian, Bay Alarm Medical, UnaliWear – all connect to a required response center. Voice first technology – in everything. During 2021, the Voice First category of technologies moved far beyond smart speakers and smartphone voice assistants. Every brand now has an opportunity to have its own voice with voice cloning. Speaking to your car is a requirement and the plethora of options, including EchoAuto or IntelliDash can make it so. Expect moving forward that older users to be willing to trade concerns about privacy via an always-listening device against ease of interaction with voice assistants everywhere. However, 2021 produced multiple wake word detection and even interoperability across platforms. 2022 Market Overview Aging and Health Technology Watch Page 15
Market Overview Technology and Aging January 2022
Amid market disruption, hearables market continues to resonate. The hearing technology
market is seeing disruption from multiple angles. Smart hearables will again be news at CES
2021, including a range of earbuds, AI-enabled hearing aids with fall detection, smartphone
adjustable sound – especially appealing for older adults in noisy restaurants. Add integration
with voice capabilities like Siri, Google Assistant, and Alexa plus the ability to stream audio
content directly to in-ear devices. With the introduction of Over-the-Counter Hearing aid sales
(and recommended guidelines), coupled with the beginnings of insurance reimbursement, those
with mild-to-moderate hearing loss are likely to benefit from many of these changes.
Figure 12 IDC shipment forecast of wearables in units to 2024 [Source: IDC]
Smart Home Devices (millions)
1600 1428.3
1400
1200
1000
801.5
800
600 526.4
393.5
400 296.3 302.5
164.2 210.3 205.9
200 130.7
0
2020 Shipments 2025 Shipments
Video Entertainment Home Monitoring Smart Speaker Others Total
Figure 13 IDC shipment forecast of smart home devices in units to 2025 [Source: IDC]
2022 Market Overview Aging and Health Technology Watch Page 16Market Overview Technology and Aging January 2022 ADVICE TO VENDORS: IT’S TECH-ENABLED SERVICES, NOT PRODUCTS Probably the biggest issue that keeps technology out of the homes of older seniors is the difficulty of marketing to them (“We are not old!”) and to their afraid-to-interfere adult children. Therefore, it’s important to sell through channels that reach them at whatever stage of aging they’re at, pricing right for resale and possible white labeling. Vendors will find that: One go-to-market channel is not enough. Depending on the product or service, it may need a mix of resellers/distributors, face-to-face, and online sales. The 2021 FCC broadband progress report revealed 19 million Americans lack high speed Internet access, and even if it were available, 25% of the 65+ never go online. If that population needs a technology or service, such as registration for a vaccine, caregivers must search online on their behalf. If looking for assistive tech for older adults, today there are multiple options, including Amazon or Best Buy. But new entrants should find local partners to test product effectiveness before going national. Privacy and security features will be built into design of software and websites. Scams targeting the elderly have ballooned to a cost $3 billion annually, and that includes only those that are self-reported. For safety-oriented apps and sites that include the role of the senior, it’s critical to verify identify among provider and user roles. Two-factor authentication will likely be required as part of all online apps, including financial and health-related services. Technologies must be well-supported and intuitive. Most people have a laundry list of frustrations with technology, regardless of age. The failure of previous direct-to-consumer approaches underscored the fallacy of inventor-centric thinking that ‘if we create it, they will buy it from us’ or at least find it on Amazon. But what if it is a device that should fit into a Wi-Fi home network with other devices, a printer, a few voice devices, and maybe a camera? Instead, remote configuration and support partners must be a major part of the offering – or doom the user and family to frustration and tech abandonment. Device and app vendors must be capable of integration and extension. Despite standards initiatives like Matter in 2022, or ONC Interoperability efforts, many of today’s gadgets still don’t communicate – especially with each other’s proprietary systems or data sets (like Electronic Health Records). So mobile health devices, apps or medication reminders may be useful, but touch a tiny aspect of the whole person’s life or health. Patients struggle to get their own records in a transferrable form upon discharge. Upgrades must be invisible or painless. Consumers already gravitate towards software applications that mostly work with ones they already use, including Gmail, Facebook, FaceTime, Teams, Zoom, Siri, and Google Assistant – most working across multiple devices. Personalized interfaces (like Amazon and Netflix) updated in the cloud, are increasingly expected. The right customer or referral – families and service providers partners. Direct-to-consumer marketing of products and services takes deep pockets just for the advertising – note the growing number of ads for low-cost hearing aids. For early stage companies, start locally – get to know a 2022 Market Overview Aging and Health Technology Watch Page 17
Market Overview Technology and Aging January 2022
local home care agency, senior living company, or home security company. What they have in
common? Entry into the home. What else? Contacts in the area who can sponsor pilots.
Standards enable users and integrators to cross tech boundaries. Times are changing – as in
this smart home interoperability initiative – a recognition that, despite intense competition,
consumers likely own a variety of devices and software that should be able to work better
together. Amazon launched a similar initiative for voice offerings like smart speakers and voice
assistants. Ensure that the new offering works across multiple platforms and comes in multiple
form factors – voice, smartphone, web, for example.
Access to ongoing training and refreshers – much work needed. To be sure, the oldest are
likely to approach smartphones as just another variation of flip phones – until they can learn of
their utility in a store, online, from their family, or in community training centers. Automatic
updates and application software changes push users back for refreshers to avoid considerable
frustration. Despite the efforts of senior centers and other non-profits like NCOA and its Online
Banking training, training services lag the pace of tech change and may not keep up with rapid
growth of threats, including hackers’ ability to pinpoint location and steal personal data.
The real user need – a service problem solved. Seniors and their adult children may not
imagine on their own what to do with tiny sensor networks, voice assistants, or smart speakers. A
home security company could help explain the benefits, for example, of care coordination, when
selling tech to a home health agency. Vendors should fit solution descriptions, service provider
stories, and senior support processes along the continuum of needed care and socialization. This
necessitates a grasp of the decision points that spike need and interest, using these as part of
websites and marketing (see Figure 14).
er on l
o e er on l er on l er on l
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Al r y e Te e ge ch e ic ion hronic i e e
n ho e hone ll e in er oni oring
er i eo e ec ion i en ing loo re re
r ch o o ion e r le oni oring
oor ell oice fir en or e lh e lh
e oe r r e r le Telehe l h i i
oni oring eofencing
n e en en r iler
Ti e
Figure 14 Technology needs evolve over time
2022 Market Overview Aging and Health Technology Watch Page 18Market Overview Technology and Aging January 2022 HOW DOES THE TECHNOLOGY MARKET FOR OLDER ADULTS EVOLVE? The marketplace of products and services today is still fragmented, with ever-shifting cottage industries comprised largely of startups, challenged by channel complexity and end user resistance. According to AARP’s Longevity Economy projections, the 50+ population will control 51% of technology spending by 2030. That market will be dominated by the largest players, who will acquire a plethora of startups. Benefits of new tech will accrue to all, but will challenge users at every intro. Service providers, caregivers for older adults, and senior living organizations will need to keep up (see Figure 15). What are the key trends to watch in 2022? As 2022 begins, the oldest baby boomer turns 76. The population aged 65+ exceed 54 million, trends emerge, accelerated by the pandemic. Because of the sheer size of the older adult market, vendors see them as constituents of the market of technology for multiple age and health segments. In-home healthcare services will persist and expand. The dream of reimbursement for remote care became a reality during the pandemic. Telehealth services will remain to replace or supplement in person visits likely throughout 2022, and Dispatch Health’s in-home urgent care is now available nationwide. Remote patient monitoring (RPM) also moves more care into the home – and is expected to further evolve in 2022 – regulation changes in the past year are have begun to turn the adoption tide). Older people, consumers of a significant portion of healthcare spending, will need and use many of the Digital Health technology categories. Smart displays and voice first interfaces will be ubiquitous. For older adults, touchless technology and voice-enabled interactions are ideal, especially when accompanied by a display of large font text and engaging how-to-cook videos. Why? Because it is easier for them – turning frustration into a valued service world in which what you say should get you what you need. Voice interfaces will be expected in smart displays and apps. And they will be added to every feasible appliance, device, and vehicle. They will widespread use in independent and senior living, since many older adults will bring them along at move-in time. Sensor technology shrinks – and changes form. Sensor technology failed to meet its promise in the last decade – and many went innovators disappeared. But the tech has changed – now non- wearable and radar-based fall detection (even in a steam shower), tiny paper sensors in a mat, wearables that can predict the onset of stroke, biometrics, including blood pressure, and even Air Tags or Smart Tags that can pinpoint the location of a phone (or suitcase) left at behind. Hearing technology markets will be further disrupted in 2021. As it did in 2020 with Livio, in 2021, Widex Moment, a 2021 CES Innovations Award winner, uses machine learning to enhance the quality of sound for the wearer. Lower cost hearing aid options including financing alternatives, are now part of the mix. Expect hearables to further evolve; over-the-counter hearing aid purchases to be FDA-legitimized; retail and at-home self-service/self-fitting services expand (further enabled as a result of Covid), individuals with hearing loss may opt in to improving what they can hear in home and when out and about. 2022 Market Overview Aging and Health Technology Watch Page 19
Market Overview Technology and Aging January 2022
Caregiver shortages, prolonged isolation, and aging all boost in-home monitoring. Fifty-
three million Americans are providing care to someone with health or or functional needs – in
short, they are family caregivers. The intersection of three simultaneous trends of aging alone at
home, worsening caregiver shortages and turnover, and the percentage of adult children working,
interest in monitoring technology in the home will grow, including in-home hubs that can
manage web cameras, sensors, smart doorbells or enable voice-first emergency response.
The absence of widely available tech training and support should prompt innovators. It’s
not just seniors who need help. The proliferation of devices, especially smartphones, and their
set up complexity gave birth to Best Buy’s Geek Squad into Total Tech Support (any device)
and $10 million of funding for learning platform GetSetUp. Papa has expanded its role to
helping older adults with technology. New technology requires training and support – and profit
for companies that can deliver it cost effectively.
Many tech offerings are still too hard to set up and use. With the aging of baby boomers,
newer offerings like Support.com (any connected device) will tailor messages to reach an older
adult audience. Cyber-Seniors trains young people to be technology tutors for older adults.
National efforts (like the OATS-AARP collaboration) will further attempt to make tech training
available for older adults new to a technology in 2022. On the flip side, tech innovators should
offer their own Easy Mode – a quick start of a limited set of options that can be expanded, or
remote configuration by family for in-home tech, as with Alexa Together.
Virtual reality use cases will continue and grow – slowly. Virtual reality tool possibilities
expanded during 2020, particularly in the area of caregiver training (Embodied Labs) and more
senior living communities are deploying virtual reality for resident engagement (MyndVR,
Rendever). In 2021, VR began to be used for training future doctors and surgeons, and it is also
being used for pain reduction. But many senior living initiatives to date have been well-
publicized pilots and device-limited deployment.
Changes 2022, beyond From TO
Telehealth, Remote Covid-driven MDs embrace, CMS
Patient Monitoring reimbursement permanently reimburses
Blood pressure tracking Cuff-based Multiple, touchless
Voice First technology Smart Speakers, Touchless smart display,
Voice assistants branded voice assistants
Hearing technology High price hearing aids, OTC, hearables, low-cost
sold through audiologists hearing aids, self-service
Caregiver technology Assisting care workers, In-home care tech, RPM,
time recording voice tech for recipient
Fall detection On body pendant, private Wrist, in-room sensing,
pay insurance reimbursed
Senior In-home Fitness New post-Covid category Tele-fitness, MD referral
Location technology GPS device, phone locate Smart location sensors
Tech training for Seniors Fragmented, senior center Nationwide availability
Figure 15 Where is the market heading for technology and older adults
2022 Market Overview Aging and Health Technology Watch Page 20Market Overview Technology and Aging January 2022 About the Author: Laurie M. Orlov, a tech industry veteran, writer, speaker and elder care advocate, is the founder of Aging and Health Technology Watch -- market research, trends, blogs and reports that provide thought leadership, analysis and guidance about health and aging-related technologies and services that enable boomers and seniors to sustain and improve their quality of life. In her previous career, Laurie spent many years in the technology industry, including 9 years at analyst firm Forrester Research. She has spoken regularly and delivered keynote speeches at forums, industry consortia, conferences, and symposia, most recently on the business of technology for boomers and seniors. She advises large organizations as well as non-profits and entrepreneurs about trends and opportunities in the age-related technology market. Her perspectives have been quoted in the Wall Street Journal, the New York Times, Vox, Senior Housing News, CNN Health, and Consumer Reports. She has a graduate certification in Geriatric Care Management from the University of Florida and a BA in Music from the University of Rochester. Laurie has provided testimony about technology at a Senate Aging Committee hearing and consulted to AARP. Advisory clients have included AARP, Argentum, Bose, CDW, Microsoft, Novartis, Philips, Genentech, and many others. Her latest reports include: Beyond DIY: The Future of Smart Homes and Older Adults 2021, The Future of Wearables and Older Adults 2021, The Market Overview of Technology for Aging, The Future of Remote Care Technology 2020, Voice, Health and Wellbeing 2020, and The Future of Voice First Technology and Older Adults. Laurie has been named one of the Top 50 Influencers in Aging by Next Avenue. 2022 Market Overview Aging and Health Technology Watch Page 21
Market Overview Technology and Aging January 2022
2021 Technology Categories and Vendors (Examples)
For inclusion as an example-only technology to facilitate aging, the vendor meets two of these
criteria (those firms listed are only examples, not an exhaustive list). Because of growth of
relevant technology announcements during 2021 and into 2022, more startups, including pre-
launch and innovation award winners are included than previous versions. In addition, please
note that the “**” entries can be new for this publication of the 2022 Market Overview, though
they may have been in business previously but were not included in last year’s report. The
criteria:
a) Incorporate messaging to and about boomers and/or seniors – or their family or
professional caregivers.
b) Is expected to be broadly available, not just in a single region.
c) Addresses one or more categories described in this document.
2022 Market Overview Aging and Health Technology Watch Page 22Market Overview Technology and Aging January 2022
Sub- Purpose Platform Contact
Category
Category: Communication
Alango Hearables Speech recognition Microphone-based Alango.com
Hearables enhancement sound improvement
Amazon Echo Cloud-based Screen with voice- Smart display rotates amazon.com/
Show 10** enabled AI access to face speaker echo
Bose Sound Hearing Aid FDA ClearedMarket Overview Technology and Aging January 2022
Alarm.com/ Smart home, Security camera, Proactive monitoring, Alarm.com
Wellness** senior living motion detection alerting
Best Buy Mobile Paired with Lively Call center Bestbuy.com
Lively App PERS Wearable 2
Caspar.ai** Smart home ‘Distributed AI’ Activity patterns, Caspar.ai
motion
Caregiver Sensor Core Monitoring Motion sensing Caregiversmart
Smart Home Kit solutions.com
Solutions Monitoring
FallCall Fall Apple Watch Call center Fallcall.com
Detect detection
iGuard Stove Activity monitor Shuts when room is Iguardfire.com
Stove** shutoff unattended
Lifestation Medical Mobile Medical Call center Lifestation.com
SideKick Alert Alert watch
Smart**
LiveFreely Safety Fall detection No call center livefreely.today
Wearable
Samsung Finding lost Can tag anything, Tagged item issues Samsung.com
Smart Tags** items tap ring button ring tone
SeniorLink** Caregivers Support service Family, prof caregiver SeniorLink.com
SensorsCall** Home Smart night lights Monitor patterns, Sensorscall.com
monitoring alert, no call center
TrelaWear MobilePERS PERS Jewelry Paired with Mobile mobilehelp.com
Help response center
UnaliWear Mobile Voice-enabled Bluetooth low energy unaliwear.com
PERS watch mobile PERS
Verizon Mobile Mobile PERS No call center Verizon Care Smart
Care Smart PERS Watch Watch Watch
Watch
Vayyar Wall-mount Fall management Identify deteriorating Vayyarhome.com
Home** Radar-based solution health patterns
Category: Health Wellness
AppliedVR Virtual Pain education & Distraction and coping appliedvr.io
Reality management tools for pain
Best Buy RPM Remote patient From Current Health Healthcare.bestbuy.
RPM** monitoring acquisition com
CogniFit** Brain Personalized games Includes cognitive Cognifit.com
training tests
HandsFree Voice Voice-enabled, HIPAA compliant handsfreehealth.com
Health assistant health assistant reminders
Mitsubishi Scanning of Line of site Facial recognition, Mitsubishi.com
Electric vitals monitoring thermal detection
HealthCam** (regulatory review)
Independa Senior- Smart TV partnered Health offerings Independa.com
HealthHub** focused hub with LG accessible via TV
Medminder Cellular 7-day, 4-dose per Prefilled trays from medminder.com
day reminder trays pharmacy
MedSign Set top box Telehealth Qortex – TV platform medsign.com
2022 Market Overview Aging and Health Technology Watch Page 24Market Overview Technology and Aging January 2022
MediSafe Medication Notifies Deployed in medisafe.com
compliance 'Medifriend' if partnership with
app doses are missed pharma, research
Oura Ring** Wellbeing Sleep, personal Heart rate, Oura.com
smart ring guidance temperature sensing
OrCam Pro MyEye Help low-vision Read text aloud Orcam.com
Read**
Ōmcare Medication Home health Verification of dose Ōmcare.com
compliance taken
Posit Brain Train Games, Software Improve memory Brainhq.com
Science**
Ready Caregiver Personalized care Benefits finder, care Readysetcare.com
SetCare** tool plan plan
Reemo Health Remote mobile Senior living, senior reemohealth.com
Health Smartwatch, health platform care, healthcare
analytics
Teledentists Dental Online dental Virtual visits, theteledentists.com
health consultations prescriptions
Valencell** PPG sensors Continuous heart Integrated in Valencell.com
rate, O2 sensing hearables, wearables
VitalTech Connected Remote patient Patient health, vitaltech.com
Care monitoring wellness
Vivo Online Strength training In-home with trainer teamvivo.com
for seniors
Withings Smart scale Body composition With smartphone app Withings.com
Body Scale** Wi-Fi scale
Finance/Transportation
Golden Financial Account Includes financial care Joingolden.com
Financial services for organization, bill specialists
older adults paying
Papa Family on Transportation, Health plan papa.com
demand chores, socializing reimbursed service
LifeSite Family Caregiving Store, manage family lifesite.co
records financial records care documents
EverSafe Fraud Seniors and Detection and alert eversafe.com
protection families system
Uber Healthcare With uberAssist, Ride-hailing service uberhealth.com
Health appt rides door-to-help for paid by organizations
disabled
Intuit Mint Finance Manage banking Budget for aging mint.com
accts, finances parents
TrueLink Financial Protect assets and Payment cards, truelinkfinancial.
Financial services for track payment investment Com
older adults activity management
2022 Market Overview Aging and Health Technology Watch Page 25Market Overview Technology and Aging January 2022
Category: Caregiving
(Platform, Apps)
Alexa Voice-home Activity feed, alerts Voice-enabled remote Alexa Together
Together** monitoring monitoring
Aloe Care Digital care Voice-activated Care coordination get.aloecare.com
assistant
BrioCare Care Voice-activated Alexa and smartphone briocare.us
coordination app
CareLinx Non-agency Families find Marketplace of carelinx.com
home care workers, rides registered workers
Care Care GPS tracking, Care professionals carepredict.com
Predict management reporting
Caring.com Elder care Articles and search Reviews from users caring.com
website tool – all care types
Caregiver Motion Package of sensors Core Monitoring Kit Caregiver
Smart sensors, app smartsolutions.com
Solutions
Caremerge EHR and Resident software Senior living caremerge.com
Engagement engagement
Constant Voice- Safety for seniors Family, home care, constantcompanion.
Companion emergency senior living com
DME Voice- Products, Services Marketplace for dmeconnected.com
Connected accessible for Healthcare use Durable Medical Equip
K4Connect For resident, Engagement, Senior living, smart k4connect.com
operators Wellness home, voice interface
Outpatient Smartphone Caregiver Share calendar, status Getoutpatient.com
app collaboration
PointClick Care Cloud platform Senior living, SNF, pointclickcare.com
Care management home care
Category:
Learning/Contribution
Candoo Tech Tech training Online, installation Tech training older Candootech.com
help adults
Cyber- Tech training Trained youth Tech mentoring for Cyberseniors.org
Seniors helping seniors seniors
GetSetup Peer training Online Classes On demand learning getsetup.io
learn@50+ Training Tech, caregiving, Online and workshop learn.aarp.org
work, skills Education
LifeBio** Life Story Captures stories Older adults Lifebio.org
Memory Storytelling Digital life stories Professionally written memorywell.com
Well
My Family Stories and family online tool myheritage.com
Heritage history tree
OATS Training Tech, job skills Regional workshops seniorplanet.org
Lowe’s AARP Helping Partnered with Advice, how-to Lowe’s Livable
training** older adults AARP planning for future Home
Osher Lifelong Senior-focused Nationwide network osherfoundation.org
learning courses
Support.com Tech support Telephone support Any device support.com
Com
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