The Aging in Place Market

We recently attended the Boomer Summit, a conference focused on the business opportunities being created by aging baby boomers.  

One of the more interesting market opportunities we heard about was supporting aging boomers and seniors wanting to stay in their homes instead of moving to a retirement community or assisted care facility.  

This is clearly a large and growing market.  Studies show that more and more Americans want to stay in their homes and age in place instead of moving.  Beyond the growing interest by aging boomers, several additional trends are driving this shift:

1.  The cost of retirement communities and assisted living continues to increase.

2.  Technology is enabling new methods that help folks age in place.

This is creating a lot of opportunities for firms to provide goods and services that help people stay in their homes.  Many of these are niche opportunities that small businesses can exploit.  

The Durham News article Aging in place movement growing provides a good overview of this topic.

Comments

[Sonu]

Also, with changes in Medicare reimbursement which are to be implemented in the near future, more and more seniors will be unable to receive medical care and will be unable to afford senior living communities. Aging in Place will become a necessity for alot of them. Glad the momentum is picking up and people can begin to prepare for their future needs! great post, thanks for sharing it...

[Jeff W]

We attended the Boomer Summit a few years ago and it's a great place to get ideas and see the latest trends and products. While many trade shows in the disability space have been growing smaller, the Boomer Summit seems to be getting bigger every year.