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The fastest growing demographic group in the world is the over-60s. There are several apps and care targeted at this demographic, such as the social app Papa (which raised $18 million, followed by another $60 million), and Honor, which also raised another $140 million. The market for targeted care for seniors has been growing, and the pandemic has particularly underscored the need for this demographic to have more tailored services. I highlight two opportunities here:

Technology: 89% of seniors prefer to receive care at home, with 13% reporting that moving to a nursing home scares them more than death. Thus, the home care market is estimated to grow, potentially reaching $1.8 billion by 2027. Technology can prove instrumental in supporting aging at home. Thus, smart pill boxes, applications that connect individuals to health care professionals or that create private health care plans, suitable for each individual, are some innovative ideas in the area. Applications that centralize information about home care are also a good bet in the area, since care often falls on inexperienced family members.

Dementia tourism: there are about 50 million people worldwide living with dementia, and seven out of ten people will need long-term care in their lives. Dementia tourism is a fast-growing niche, with many families sacrificing proximity to their aging parents in order to afford the best care. Thus, villages of their own have emerged, blending the experience of care at home with experienced staff, where people can move around and live normally. There is an opportunity in creating such spaces, given the aging population.

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