The most promising new health and wellness-related technologies, products and services are in nine areas, according to a new report, “2016 Health Innovation Frontiers” issued by the AARP:
- Physical fitness ($8.2 billion in cumulative revenues predicted from 2015 to 2020)
- New care delivery ($5 billion)
- Smart aging ($ billion)
- Care guidance ($4.1 billion)
- Safe living ($3.5 billion)
- Social engagement ($3.4 billion)
- Diet and nutrition ($2.4 billion)
- Behavioral health ($2.2 billion)
- Medication management ($1.4 billion)
As consumers aged 50 or more years increasingly use digitally based products and services, growth in these areas could top $34 billion, according to the report. The new technology, products and services in these categories could be used by more than 100 million people by 2020, the AARP said.
Four key trends to watch, according to the report: smart sensors and connected devices, momentum in on-demand care, the spread of platform as business-as-usual and reimbursement as a revenue model.