Why the Home Health Market Will Explode…from CEPRO
Hands-on exhibits will teach custom electronics professionals how to tap into this booming marketplace.
Jan 5th 2010, By Jessica Camerato
01.05.2010 — Looking to find more customers? It’s easier than you may think.
Make that a million times easier.
Home Health Technology is one of the most lucrative markets in today’s economy. Every month approximately one million people turn 60 years old, and 80 percent of them are in developing countries. Not to mention nearly two-thirds of people who have ever lived to the age of 65 are still alive today.
In fact, the fastest growing population segment is people 85 and older. The second fastest? Those who have turned 100, according to AARP.
Need to know more? About 3.5 million people worldwide will be over 100 years old by 2050, according to HelpAge International.
This rapidly growing population (also known as the “silver tsunami”) of seniors and aging baby boomers represents a thriving client base that cannot be ignored in today’s economy.
“The recession is probably the best thing that ever happened to the aging and technology industry,” said Laura Mitchell, business relationship specialist for GrandCare Systems, a leading provider of high-end, in-home health technologies and vocal advocate and educator to dealers and policy makers. “People cannot afford to go into assisted living where, on average, you’re spending about $4,000 to $8,000 a month.
“Whereas if you can purchase a system and stay in your home for even a month or two, you’ve already purchased the system. Not to mention, a lot of people who may need to go into a facility cannot sell their house right now and so they don’t have the option to moving into a facility. They need something in the interim.”
Home Health at EHX Spring
EHX Spring 2010 has partnered with GrandCare Systems to present the Home Health Tech Pavilion in Orlando, Fla. on March 25-27. These dedicated sessions and hands-on exhibits will teach custom electronics professionals how they can tap into this booming marketplace.
“Dealers really do need to be the expert in this industry,” said Mitchell.
Many CE pros already have the skills they need to succeed in this industry. Health care providers are turning to those who have experience in home automation to set up systems in homes and in long-term care facilities. GrandCare, for example, uses existing protocol-driven sensors such as the Z-Wave mesh network and Bluetooth technology.
“There is an especially good fit for people in the home automation industry who already have a feeling of how to set up sensors, to set up mesh networks, to make sure there is Internet access in the home, to do smart sensor placement,” said Mitchell.
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