The U.S. population is the oldest it’s ever been.
The number of Americans aged 65+ is estimated to reach 82 million by 2050 from 58 million in 2022.
Mind you, that will be 23% of total U.S. population.
But as lifespans stretch, healthcare gaps are widening.
- Aging in place — 95% of U.S. adults 55+ expressed a strong preference to safely age at home.
- Access disparities — The patient-to-primary care physician ratio in rural areas is 39.8 physicians per 100,000 people, while urban areas have 53.3 physicians per 100,000 people.
- Digital divide — 40% of adults age 60+ feel they lack digital skills needed to fully take advantage of being online.?
- Staff shortages — In the US, the demand for home health and personal care aides is projected to grow by about 25% by 2031, with more than 700,000 job openings anticipated each year over the next ten years.
- Fragmented care coordination — Over 40% of older adults experienced issues with care coordination, and nearly 15% have received conflicting medical advice.?
- Affordability — Low levels of savings, rising costs of post-retirement care, i.e. $395,000 for a healthy 65-year-old couple, and healthcare access challenges make elderly care a luxury.
AgeTech innovations are bringing us closer than ever to bridging these gaps.
?? Silver health technology surge
The silver wave turned into a catalyst for a new kind of technology — the one capable of addressing the challenges and opportunities associated with aging well.
By 2030, the technology spending among those 50+ is forecast to exceed $120 billion. Although the AgeTech market is not in its full swing yet, senior-focused technologies are going full-bore.
?? AI everywhere
A scarcity of eldercare professionals, higher expectations of residents, and tech-rich but insight-poor setups. Three challenges, one solution: artificial intelligence.
- By monitoring multiple data streams, predictive algorithms make it easier to confirm potential health issues before clinical deterioration such as heart failures, predict likelihood of diseases such as Alzheimer’s, and move patients to a higher level of care.
- Voice-operated, AI-powered care companions like ElliQ are gaining traction as sidekicks for proactive senior care, including medication tracking, health checks, and continuous monitoring of health metrics.
- Ambient, wearable-free AI systems like SafelyYou blend into senior living décor, creating an intelligent, safe environment for both assisted and independent living.
- Using personalized data and predictive algorithms, AI solutions like Waterlily can predict the cost of long-term elderly care, helping families navigate the financial complexities of long-term care.
Barriers yet to overcome:?
- Pervasive age-related biases in AI models
- Insufficient exposure of seniors to generative AI
- Little or no trust in health information generated by AI
- Immature data management frameworks and protections
?? Remote monitoring platforms help caregivers keep tabs from afar
Those seniors aging in place, especially in rural homes, require remote healthcare support to keep the freedom they want while still receiving the care and assistance they need.?
- By 2027, remote monitoring platforms like HealthSnap, Sensi.AI, and Optimize Health will track over 115 million patients, including older ones. Potentially paired with non-invasive sensors like Quantune and Acorai, advanced RPM systems can detect subtle health changes to precede health issues.
- Remote monitoring systems use AI-enabled sensors like Aqara and Zoe Care to help seniors feel safer at home and give caregivers peace of mind with fall detection, alert systems, and activity monitoring.?
- Remote care platforms like Rippl provide at-home monitoring, along with medication management and brain health management, for older patients battling neurodegenerative diseases.
Barriers yet to overcome:
- Still daunting to deploy
- Complex reimbursement landscape
?? Virtual care tools flip the script on primary care
More than 75% of adults aged 65+ believe virtual primary care improves access for those unable to visit a doctor in person.
- Telehealth platforms like Teladoc, Amwell, MD Live, and others enable older individuals to do more frequent check-ups, get refills, and alleviate social isolation. However, 47% of older adults use audio-only telemedicine — a capability that should be a mainstay in purpose-built telehealth platforms for seniors.
- Combining telehealth and in-person care, hybrid care models help maintain visit frequency and improve chronic disease outcomes for senior patients.
Barriers yet to overcome:
- Limited access to telehealth technologies
- Inconsistent coverage of telehealth by insurance plans
- Increased risk to the privacy and security of health information?
?? Augmented and Virtual Reality (AR/VR) for active aging
A Stanford study found that 80% of seniors felt a mood boost after VR sessions, and 60% reported reduced feelings of isolation.
- Immersive tools like Virtuleap and Neuro Rehab VR help those 65 and older keep their minds active, reduce stress, and detect early signs of cognitive decline.?
- VR solutions such as Rendever and Mynd Immersive can place seniors in any setting, from a concert hall to a theatre, where they can connect with loved ones and feel more plugged in, despite mobility or distance challenges. Some of them are even covered by insurance plans.
- VR and AR also hold promise for physical rehabilitation — as evidenced by tools like XRHealth and RelieVRx — helping older patients regain mobility through engaging rehabilitation therapy.?
Barriers yet to overcome:
- Some seniors might lack the skills to operate VR/AR devices.
- Poor accessibility of the technologies for seniors with visual or hearing impairments.
- VR devices can be disorienting, causing motion sickness, dizziness, and eye strain.
Critical success factors for AgeTech startups
With the longevity economy valued in the trillions, AgeTech startups could be looking at a market of $740 billion. But they have to get the three parts of the equation together.
?? Age-friendly design
59% of older adults believe technology is not designed with their age in mind, with another 20% eyeing design as the top barrier to tech adoption. That’s hardly surprising: accessibility is still an afterthought. Countermeasures include:
- Employing user-first design methodologies that factor in both age-related changes and overall differences in vision, hearing, dexterity, and cognition.
- Using AI technology (personalization, face recognition, voice-to-text, etc) to reinforce the solution’s accessibility.?
- Doubling down on "invisible technology" principles where the tech disappears into the background of daily life.
- Involving different groups of older adults as co-designers throughout the development process. If you’re building for multiple user groups (caregivers, healthcare professionals, older adults), make sure to engage all groups in your design activities.?
?? Distribution strategy
Given that 60% of older adults are not willing to pay a fee for any app they currently use for free and the sensitive nature of AgeTech, the traditional distribution strategy won’t cut it. Hence:
- Develop multi-channel distribution where you partner with trusted organizations, including healthcare systems, senior living communities, retail pharmacies, and community centers.
- Build strategic partnerships with existing trusted channels that serve older adults such as telehealth platforms, caregiver support groups, and others.
- Work with insurance companies and government programs to secure reimbursement for your solutions.
?? Clinical validation
To succeed, an AgeTech product (or any health tech product, for that matter) must go beyond functionality — it needs clinical validation proving real-world effectiveness for older adults. Otherwise, the product may not meet regulatory requirements and may fail to build trust with end users. Therefore:
- Identify clear, measurable metrics to assess the product’s effectiveness from early development stages.
- Create and maintain software documentation throughout the entire development lifecycle.
- Partner with academic medical centers for rigorous validation studies.
- When possible, conduct RCTs, supplemented with RWE studies, to find correlations between behaviors and outcomes in product data.
- Develop ROI models that demonstrate both health outcome improvements and cost reductions.
AgeTech has come of age
As AgeTech gains momentum, it’s also gaining the power to turn today’s challenges into tomorrow’s solution, helping those 65+ stay healthy, financially secure, and socially connected. But success in this market won’t stem from technology alone. It’ll also take truly accessible experiences, industry endorsements, and unwavering trust from the people it’s built for.?
The silver wave is here. Use Orangesoft’s 14+ years of tech experience to ride it.
