At the Longevity Network, founded by AARP and UnitedHealthcare, we believe in driving innovation and improving the quality of people’s lives as they age. Because of the tremendous opportunities for new products and services in areas ranging from physical fitness to care navigation, vital sign monitoring, and medication management, it is more important than ever for health innovators to have a strategy for engaging the 50+ audience. To help the development of these strategies, we gather ideas and provide resources for investors and entrepreneurs who want to break into this promising market.
The 50+ market is huge and growing. This growth mirrors a growth in population, with a projected 132 million consumers 50+ by 2030. The market also has tremendous buying power: if Americans 50+ were their own country, it would rank third in economic activity in the world after China and the United States. This buying power comes with an often-overlooked willingness to try new technologies, especially innovations that place an emphasis on living rather than aging. Given its size, power, and enthusiasm, we believe the 50+ market presents an enormous business opportunity for consumer health goods and services.
To learn more, visit The Opportunity page.
The Health Frontiers
How can you target the health demands of the 50+ market? A recent study by Parks Associates identified nine areas of digital health innovation that collectively represent a growth opportunity of $30 billion in revenue and adoption by over 100 million people over the next five years. We call these market areas “Health Frontiers” and they currently represent the health demands of 50+ and provide entry points to the Longevity Economy.
To learn more, visit our Health Frontiers page.
The Caregiving Frontiers
With over 117 million Americans needing some form of care by 2020, the caregiving market is a growing yet undefined market made up of 5 million paid, and 40 million unpaid caregivers. Many of the 40 million Americans that provide caregiving assistance don’t even identify themselves as caregivers, since they are often unpaid, care for a loved one, and deemphasize the significant stresses associated with caregiving. The needs of caregivers represent a growing frontier that technology entrepreneurs and investors can’t afford to ignore. We call these “Caregiving Frontiers,” and they epitomize areas ripe for new technologies, innovation and disruption.
To learn more, visit our Caregiving Frontiers page.