Aging, tech-savvy baby boomers who want to retain control over their own lives will lead to a near-tripling of their adoption of wireless and mobile health (mHealth) products by 2020, according to a study by the Massachusetts Institute of Technology (MIT) Enterprise Forum of the Northwest. Study lead author lead author Michael Gallelli notes that the nation’s 78 million baby boomers--the oldest of whom turn 65 this year--will help the mHealth information technology market grow to $4.6 billion by 2014 and to $12 billion by 2020.
Most of these boomers, like the generation of Xers behind them, have expressed a “high willingness” to use home-based health monitoring devices, particularly health and fitness software; mobile health applications; personal emergency response services; remote monitoring tools; and telemedicine technology. The growth in connected health, along with soaring healthcare costs coupled with rapid adoption of mobile technologies will create an “explosion of personal data,” creating numerous opportunities for entrepreneurs, Gallelli said.
TSH Editor's Note: Since 2002 we've been reporting in this Forum that a seachange is taking place in the senior housing and care industries, and that the central point in the continuum of care will eventually become the home as people overwhelmingly choose to age in place as long as possible. The ramifications for the real-estate development focused executives in our readership are immense. You must immediately start to implement plans so that the next generation of what we now call senior housing takes into account a whole plethora of communication, monitoring, and embedded services to assist the families and residents in their their pursuit to maintain a high quality of life as they age. BB
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