In 2013, AARP and Parks Associates identified a rare, untapped opportunity to generate revenues for entrepreneurs, investors and others in the private sector to generate revenues while meeting the greatest wants and needs of a substantial, influential and important population: people 50 and over. Updated in 2014 with new revenue and market forecasts as well as groundbreaking market landscapes, this research finds that it is an opportunity that could, within five years, generate $30 billion in additional revenues for entrepreneurs and investors while having a significant impact on the lives of 100 million people.
2016 is the year the Longevity Economy spreads its wings. Market disruptions are happening at an astonishing pace. Revenues are steadily shifting away from traditional players. So what’s in store for 2016? Expect an increase in innovation-fueled solutions and an ongoing transformation of care through 2020. And the revenue potential is bigger than previously imagined — cumulative revenues are forecasted at $34 billion, $4 billion more than the previous estimate.
Nine areas of opportunity are identified and explored:
- Medication management
- Smart aging
- New care delivery
- Care guidance
- Safe living
- Physical fitness
- Diet & nutrition
- Social engagement
- Behavioral health
This research is made available as part of AARP's Project Catalyst initiative. With Project Catalyst, AARP has convened the most innovative leaders in the health care industry to launch a pioneering program that gains valuable insights into 50-plus consumer behavior and usage of popular and new-to-market health-tech products, in order to help inform developers about how their products and services are working to improve the lives of Americans as they age.
Project Catalyst. Health Innovation Frontiers. Washington, DC: AARP Research, May 2016. https://doi.org/10.26419/res.00301.001