The number of “older adults” is growing globally and in the medium term, they are likely to become the key market in sectors such as healthcare, banking, insurance, hospitality, the automotive industry, as well as making decisive contributions to the fashion, food, real estate and consumer electronics sectors.
The united nations estimates the over-65s demographic will grow from 700 million in 2019 to over 1.5 billion in 2050.
Thanks to scientific and technological innovation, the Healthy Life Expectancy is growing (+15,8 years) , at the same time are increasing the solutions and services dedicated to this new target.
With the aim of collecting the trends that are currently marking, and will progressively accompany, the global explosion of older adults, we analysed the most relevant studies published during the last two years.
Besides, thanks to SONAR Trend Platform, Reply is able to create an overview and mapping of relevant trends in the field of longevity, based on their occurrence within expert media articles, mass media, patents, scientific publications, and worldwide websites.
The trends have been grouped into the areas that represent the domains in which technological,
scientific and product / service innovation is bringing improvements in the quality of daily life and in the prospects of older adults.
The stringent lockdown measures seen in many countries during the recent pandemic have quickly led to a widespread awareness of the need to improve the home life of older adults.
Wearable devices and smart fabrics, exoskeletons and telemedicine are the main areas of innovation experiencing the fastest level of growth on the market.
Life sciences, medicine, biology, pharmaceuticals and technology: new, cross-discipline solutions, specialised in different areas of longevity, are obtaining significant funding on international markets.
Artificial intelligence and machine learning are contributing to the emergence of the “P4” medicine model: predictive, preventive, personalised and participatory.
An active life increases the possibility of living longer: some of the key factors for improving individuals’ conditions, as well as extending self-sufficiency and independence, are cultural consumption, lifelong learning, autonomous mobility and physical exercise.
The global pandemic has further driven the need for remote communication and online socialisation, in particular through messaging platforms and social media networks.
Older adults are working longer and longer and safety measures related to the Covid-19 pandemic are forcing companies to integrate tools designed to monitor workers’ health, which has had positive feedback.
Banks and insurance companies see older adults as one of the main reference markets and are actively investing in improving their commercial offer and the consulting services focused on this segment.
Companies, which today struggle to communicate with older adults, can grab the opportunity to design products
and services valued by a population that is becoming dominant in terms of its size, spending power, and assets.
The Reply Group is supporting several European and North American companies in designing useful products and
services to support the extension of active life and improve the relationship with older adults.
Corporate wellbeing platforms
Banking and insurance products and services
Wealth management and Financial Advisory
E-commerce and remote services
Reply offers the most innovative service models to understand the business and technological opportunities aimed at serving “older adults” better in everyday life.