AgeTech World meets sector experts to predict the trends we are likely to see in 2023, as pressure on the healthcare sector rises.
Our world is going through an unprecedented demographic shift as we’ve never seen so many people reaching old age.
According to the annual State of Ageing report by the Centre for Ageing Better, there are almost 11 million people aged 65 and over in the UK. This equates to around 19 per cent of the UK population.
Estimates suggest that in 10 years this figure will increase to around 22 per cent of the population that will amount to almost 12 million people.
In 2022, the UK has also seen a number of centenarians at its highest level ever, with a 52 per cent increase.
As the UK and the world have seen a huge increase in the average life expectancy, the healthcare sector has been put under pressure. Recent studies have found that healthcare providers do not do enough for older people.
Steve Gates, managing director at TakingCare Personal Alarms, says: “With recent ONS data indicating we have an increasingly ageing population, and the challenges faced by the NHS to support elderly people, more investment is needed into preventative technologies within agetech.”
Agetech as an informative tool
With older people embracing modern technology more than ever before, agetech provides the solution to the issue. In fact, according to recent studies, 77 per cent of over-65s used the internet at home in 2020.
According to the same findings, recent internet usage among women aged 75 and over had more than doubled since 2011.
Therefore, technology is, and can be used to help patients and caregivers become better informed, make better care decisions, and manage medical conditions outside clinical settings.
Gary Steen, chief operating officer at Tunstall Healthcare, says: “The latest evolution of connected care is underpinned by digital technology, providing data and insight to enable more personalised services and predictive solutions, and will open up a new world of possibilities for changing lives and transforming services.”
‘Assistive technology should be recognised as a proactive step’
In 2023, we will see more assistive technology being used as a form of prevention for elderly people. “Assistive technology for older people has evolved a lot over the past decade, and I don’t think we’ll see this evolution slow down any time soon,” says Gates.
“Assistive technology should be recognised as a proactive step, rather than a reactive solution.
“Many people introduce technology into an elderly person’s home after they have experienced a fall or accident, but an increase in digital and AI-led technologies could help reduce the likelihood of these falls, mitigating the risk of injury.”
About 36 million falls are reported among older adults each year, with around three million of them getting treated in emergency departments for fall injuries. Of these falls, one out of five causes an injury.
“Through gazing and exploring key areas to innovate, we can drive the health, housing and care sectors forward, whilst ensuring tech literacy is kept in sharp focus,” says Steen. “I’m building on the collaborations that have already been generated to shape a system that is better able to serve people in such a fast-changing world and ensure the future of technology within the digital health and care space.
“Whether it’s the use of virtual care platforms, remote monitoring solutions, communication tools, digital apps or sophisticated data platforms, services are entering a new phase of digital maturity.”
What is the future of ‘longevity economy’?
As we’ll see an increased use of technology for the care of older people, the ‘longevity economy’ is expected to reach US$200 billion by 2030. ‘Longevity economy’ is defined as the sum of all economic activity serving the needs of older adults.
“Over the next five years we’re going to see both the technology industry and our health and social care services experience continued disruption, and solutions will be revolutionised,” says Steen. “Our technology platforms will be developed to process data from multiple sources and provide a clear picture of the risks someone faces, enabling us to create a model of health and care which is proactive and predictive, rather that reactive.”
Gates concludes: “Assistive technology for older people has evolved a lot over the past decade, and I don’t think we’ll see this evolution slow down any time soon.
“It would be great to see further development and acceptance of these digital technologies within the agetech space as we move into 2023 and beyond, and we’re already seeing more diversity within elderly care technologies and products which I hope will continue.”
