Latest news with #agingpopulation
Independent Singapore
4 days ago
- Health
- Independent Singapore
Ageing in place: Why Singapore's Community Care Apartments are a promising yet oversubscribed solution for seniors
SINGAPORE: In a nation racing toward 'super-aged' status, the question is no longer whether Singapore is ready for an ageing population, but how we will live with it. For many elderly Singaporeans, the golden years don't feel very golden. They're spent alone in ageing flats, with health concerns mounting and support systems thinning. But quietly, a new kind of housing is rewriting that story: Community Care Apartments (CCAs). Launched in 2021 as a pilot project at Harmony Village @ Bukit Batok, CCAs are HDB's bold attempt to meet a growing need—dignified, affordable living for seniors who want to stay independent but need a little help getting there. The model has since expanded to Queenstown and Bedok, and demand? Through the roof. The Bukit Batok flats are set to open in late 2024. Queenstown's project is already pencilled in for 2028. And still, the queue grows. What makes CCAs different? Each flat is small—about 32 square metres—but designed with care. There's non-slip flooring, wide doorways, wheelchair-friendly bathrooms, and grab bars. Community Care Apartments Floorplan (Credit: HDB) But it's not just the physical space that makes CCAs special. It's the people and services built in. Every resident is automatically enrolled in a Basic Service Package costing about $2,000 a year. That pays for: 24/7 emergency response Health and wellness check-ins Basic home maintenance Social activities On-site support staff In short, it's everything that helps someone live alone without being alone . It's also peace of mind for the elderly, and for the children and caregivers who love them but can't be there every day. Why are CCAs so popular? Because they hit the sweet spot between a fully independent flat and a nursing home. And because they come at a time when senior couples are choosing to live solo, by circumstance or by choice. Many of them don't want to 'burden' their children, who are often sandwiched between caring for elderly parents and raising kids of their own. For those in old walk-up flats without lifts, or those who rarely leave home due to mobility issues, a CCA flat represents a breath of fresh air: accessible, connected, and above all, safe. See also Investment property - Is it the best way to beat inflation? But here's the catch: There just aren't enough Right now, the number of CCA units is a drop in the ocean compared to the need. And Singapore is ageing fast . By 2030, one in four Singaporeans will be aged 65 or older. The challenge isn't just building more—it's building smarter. Could we see Smart-Home Enabled CCAs equipped with technology to assist elderly couples? Or locate them near polyclinics and hawker centres so residents are never too far from life? Could we weave them into the fabric of every new town, just like BTOs are today? The government says it's listening. Ideas like shorter lease terms and intergenerational features are already on the table. That's a promising sign. What's stopping us? As always in Singapore—land and cost. Retrofitting old estates with CCA-like features takes money, manpower, and meticulous planning. And while the service package is subsidised, about $2,000 a year is still a steep ask for seniors with little or no income. See also MARUAH calls for bigger CPF payout But if we zoom out, the cost of not acting is higher. Our nursing homes are filling up. And most seniors don't want to be institutionalised. They want to live, not just exist. And that starts with letting them stay in homes that are safe, social, and supportive. A quiet revolution in how we care CCAs aren't perfect. But they are an important signal: that we're starting to rethink how seniors fit into the story of Singapore's future—not as dependents, but as people with dreams, dignity, and a desire for autonomy. For many elderly Singaporeans, a Community Care Apartment isn't just a place to sleep. It's a lifeline. It's a second wind. It's a chance to live out their final chapter with the kind of grace and support they spent a lifetime giving to others. The only question now: Can we give that gift to more of them?
CBC
28-05-2025
- Business
- CBC
Health authority CEO says alternative care patient increase comes as no surprise
The number of patients waiting in hospital beds for an alternate level of care (ALC) in Newfoundland and Labrador has more than doubled in the last five months, and the CEO of the province's health authority says he is not surprised. "The fact is, the need for hospital beds is driven by people getting old and fragile," Pat Parfrey said in a recent meeting with reporters. "We have an aging population, and we've gone up by 25 per cent in the last decade of seniors, and we're going to go up by 25 per cent in the next decade." According to an access-to-information request filed by the Progressive Conservatives, which CBC News has reviewed, there are 327 people waiting in ALC beds as of May 2025. This includes seniors requiring long-term care. That's an increase of 181 people since December 2024. "That's a full hospital. That's not good enough," PC Leader Tony Wakeham told reporters on Thursday. Shortage an old issue But Parfrey questions the numbers. In central and western Newfoundland, a shortage of ALC beds is not a new issue. "We've had ALC levels of 30 and 40 per cent in central and western for years, and it's directly related to not having the places that frail elderly people can go into," he said. In St. John's, Parfrey said the number of ALC patients is less than 10 per cent at the Health Sciences Centre and less than 20 percent at St. Clare's Mercy Hospital. In the meantime, he said, the province's health-care facilities have maintained the same number of ALC beds for two decades. "It's not in the slightest bit surprising that we're running into problems," he said. The health authority is developing a plan to address the shortage of beds, which Parfrey said involves getting more acute care beds in St. John's. To do so, he said, NLHS must provide more beds for transitional care, which it currently provides at Chancellor Park in St. John's. "We would need to provide other places more beds for restorative care. We're going to open beds at the Miller Centre for restorative care and we need more long-term care facilities," Parfrey said. Gridlocked hospitals Health Minister Krista Lynn Howell told reporters on Thursday the province's hospitals get caught in a cycle when beds are not available. "We do realize that it's a cycle where the beds are not available in our acute care system because there are a number of people waiting to be placed in whatever appropriate venue," Howell said. Parfrey compared the cycle to a gridlock. "The ambulances come along and there's no place to put the patient, and you get offload delay, and that leads to inefficiencies. And because you don't have enough beds or they're occupied by people who need a different level of care, the emergency rooms are getting blocked up, and people are in corridors," he said. "You get gridlock." Parfrey said NLHS will offer the province a plan that outlines short, medium, and long-term approaches to solve the overcapacity problem within the next few weeks. When asked by CBC News if the plan should have been made previously, given the knowledge of the province's aging population, Parfrey said, "maybe that's true."
New York Times
24-05-2025
- Health
- New York Times
Retirees, Get Ready to Need Long-Term Care. Here's What to Know.
Samir Shah is a forecaster — but he's an expert on the U.S. long-term care industry, not the weather. Right now, he is seeing storm clouds gathering for the Americans who will need help with basic living needs in the years ahead. 'Demand is rising at the same point that supply is decreasing, and both are happening at a very rapid pace,' said Mr. Shah, chief executive of CareScout, a company that publishes an annual study on the cost of long-term care. On the demand side of the equation is an aging population. In 2026, the oldest baby boomers will start turning 80, an age when the odds of needing care grow. The U.S. Census Bureau forecasts that the number of people 85 and older will nearly double by 2035 (to 11.8 million people) and nearly triple by 2060 (to 19 million). At the same time, the care industry has a shortage of workers that is driven partly by low wages. The median hourly wage for all direct care workers was $16.72 in 2023 — lower than the wage for all other jobs with similar or low entry-level requirements, according to an analysis by PHI, a nonprofit research and policy organization. Experts fear that shortage will be exacerbated by the Trump administration's immigration crackdown. Immigrants make up 28 percent of the long-term care work force — a figure that has been rising in recent years, according to KFF, a health policy research group. The price of some long-term care services in 2024 rose as much as 10 percent, according to the CareScout study — more than triple the 2.9 percent general rate of inflation that year. Much of your medical care in retirement will be covered by Medicare. Long-term care refers to help with daily living for people who are frail or disabled — bathing, dressing, using the toilet, preparing meals, shopping, walking and taking medications. Most Americans have misconceptions about how they might pay for those needs, or haven't planned for them at all. KFF polling shows that 23 percent of all adults — and 45 percent of those age 65 or older — incorrectly believe that Medicare will cover their time in a nursing home if they have a long-term illness or disability. Fewer than half of adults said they've talked seriously with loved ones about how they would obtain or pay for long-term care. And among near-retirement individuals, just 28 percent say they have set aside money for it. How should you think about the risk of needing care, what it will cost and how to pay for it? The answers might include long-term care insurance, savings, finding ways to optimize your guaranteed retirement income, Medicaid or reliance on a family member. Will you need care, and what will it cost? Looking at the risk for people aged 65 and older, the Center for Retirement Research at Boston College concluded that about one-fifth of retirees will require no long-term care support, and that 20 percent are likely to experience a severe need. Between these extremes, 25 percent will have low and 37 percent will have moderate needs. For any individual, these likelihoods can be very difficult to predict. According to the CareScout survey, last year, the monthly median cost for an assisted living community nationally was $5,900 per month, homemaker services cost $6,292 per month, while a private nursing home room cost $10,646. The escalation of these costs is not uniform. The cost of assisted living communities, nursing home care and homemaker services all jumped roughly 10 percent in 2024, but the cost of home health care aides rose just 3 percent, according to CareScout. And costs can vary depending on your level of need and location. The administration's crackdown on immigrants is widely expected to accelerate costs further and harm the quality of care. 'Long-term care providers would be in a really challenging place, as would long-term care recipients, without them,' said David Grabowski, a professor of health care policy at Harvard Medical School who has studied that work force. Dr. Grabowski's research also has found higher-quality care in regions with more immigrant workers. Demand for workers is expected to be strong in the years ahead. Home and residential care providers are expected to add 817,000 new jobs by 2032 for direct care roles, according to analysis of federal employment projections by PHI. That is the most new positions of any job category across the U.S. economy. 'We're simply not going to have enough people to take care of everyone' who needs care, said Mollie Gurian, a vice president at LeadingAge, a nonprofit that represents providers of aging services. Ms. Gurian also worries about the possible effect on costs if Congress cuts funding for Medicaid, which covers 61 percent of all long-term care, according to KFF. 'Providers would have to either reduce the number of Medicaid patients they accept, increase private pay rates or close facilities,' she said. Paying for care Insurance. Confusion is widespread over what Medicare and Medicaid cover. Medicare generally covers up to 100 days after a hospitalization in a skilled nursing facility. Medicaid covers long-term care services over a longer period of time, either in an institutional or home setting — but only for people with very low income and assets. 'Most people have this misconception that Medicare covers long-term care when we know that it is Medicaid that is the primary payer,' said Priya Chidambaram, senior policy manager for KFF's program on Medicaid and the uninsured. Medicaid most typically covers care in a nursing home — the services it covers at home are more limited, she said. Medicare will cover some types of care at home for people who are homebound or qualify for skilled care. Insurance companies have been selling long-term care insurance policies since the early 1980s, but they have never gained widespread popularity. The policies are complicated and costly — and many people resist buying them because they worry about funneling thousands of dollars into coverage they may not ever need to use. Moreover, the industry has been hurt by high-profile, large premium increases from some carriers. The market has been shrinking, said Brian Gordon, president of Gordon Associates, an insurance brokerage in Bannockburn, Ill., that specializes in long-term care coverage. 'When I started selling these policies 35 years ago, there were more than 125 insurance companies to choose from,' he said. 'Now there might be a dozen options.' Those choices would include sellers of traditional long-term care policies and so-called 'hybrid' policies that combine life insurance with a long-term care benefit, which have been gaining some traction. These policies make a long-term care benefit available through a death benefit that can be tapped early to pay for a qualifying long-term care need. 'These policies allow you to use the death benefit while you are living,' Mr. Gordon said. Sample policies provided by Mr. Gordon show that a 55-year-old couple could buy a shared or joint policy of this type that pays a $5,000 monthly benefit, or a shared pool of benefits between the two of $534,000. They could fund that with 10 annual premium payments of $16,500. By contrast, the same couple could buy a traditional long-term care policy that pays a similar monthly benefit funded by 10 annual premium payments of $18,000. Insurance companies require that customers pass a medical exam to qualify for commercial policies, and that becomes more difficult to do for older customers, who are more likely to have disqualifying conditions, Mr. Gordon notes. Self-fund. Affluent households may be able to fund a long-term care need out of pocket, but this strategy should be part of a broader plan for aging, said Carolyn McClanahan, a physician and certified financial planner in Jacksonville, Fla. 'We have conversations about this with our clients when they're in their late 50s or early 60s,' she said. Key topics include desired locations and identifying trusted family members or friends who might be available to help make health care decisions. Will you want to age at home, or are you willing to move? Self-funding makes the most sense for single people who don't have children and are not leaving money to heirs. 'If I have a client who wants to leave a legacy to their children, that's where having an insurance policy is a nice option,' she said. How much to set aside? The specifics depend on factors like health status, desired care scenario, and personal financial situation, Dr. McClanahan said. For clients with health issues, she suggests planning for two to three years of long-term care needs, and up to five years for those at higher risk of dementia or with good health and longevity prospects. And, she recommends keeping at least five years' worth of expenses in easily accessible money like cash or short-term bonds. Another key consideration is whether the funds might need to cover one person or two, she added. 'A couple should make sure that they aren't setting themselves up to possibly decimate the surviving spouse financially by funding care for one person. That's where you might want to maybe consider insurance that funds a first long-term care need.' Funding might come from tax-deferred, tax-free or taxable accounts, she said. 'We're always working with clients to make sure we're maximizing lower tax brackets to at least remove money from I.R.A.s to fill their taxable bucket or do Roth conversions, so that gives them more tax flexibility down the road when they may have higher cash flow needs for things like long-term care.' Health Savings Accounts offer one attractive option for people able to fund the accounts at maximum levels and avoid drawing them down to pay for health care at younger ages, she added. Guaranteed income from Social Security can help meet a long-term care expense — and often is overlooked, Dr. McClanahan said — and it's a good reason to maximize your benefit by delaying your claim as long as possible. Most people turn to informal care from family members or friends — 64 percent of caregiving hours are provided by children, spouses, other relatives or nonrelatives, according to CRR. But that can have financial consequences for the caregivers — a KFF poll found that 56 percent of people who provided or paid for someone's long-term care cut back on spending on food, clothing or other basic needs; one-third had trouble paying rent or utility bills. And time away from work often translates to lower career earnings, fewer Social Security benefits, and lower levels of savings. 'It's felt at a moment in time, but it's felt continuously for many, many years to come,' Mr. Shah said. 'There's a domino effect.'
Yahoo
21-05-2025
- Business
- Yahoo
Ambient Assisted Living Market Size to Reach USD 57.47 Billion by 2032 Growing at a CAGR of 26.27%
Global Ambient Assisted Living Market Growth is Driven by Aging Population and Smart Healthcare Integration. Austin, May 21, 2025 (GLOBE NEWSWIRE) -- Ambient Assisted Living Market Size & Growth Analysis: 'According to SNS Insider, The Ambient Assisted Living Market was valued at USD 6.58 billion in 2023, and by the year 2032, it will be USD 57.47 billion, with a CAGR of 26.27% between 2024 and 2032.' Ambient Assisted Living (AAL) systems integrate various intelligent technologies and services to assist elderly and disabled people to stay in their homes and communities safely and independently. The global geriatric population, increasing prevalence of chronic disease, and care delivery model focus on patient-centric care are driving the market growth. Facilitated by government efforts to digitise healthcare infrastructure and growing demand for services like telemedicine and availability of real-time health data and smart homes, the adoption is being powered by both developed as well as developing a Sample Report of Ambient Assisted Living Market@ The U.S ambient assisted living market was valued at USD 2.04 billion in 2023, and is anticipated to reach USD 17.55 billion by 2032, witnessing a CAGR of 26.06% during 2024 - 2032. The U.S. was the largest global AAL market in 2023 due to high healthcare expenditure, a growing geriatric populace (expected to surpass 80 million by 2040), and increasing adoption of AI-powered health and safety technologies. In-home support for seniors has seen huge growth with government programs such as the Older Americans Act and Medicare-funded homecare solutions, which are now stealing a march on the provision of remote monitoring, fall detection, and digital communication tools designed specifically for senior care. Major companies such as Honeywell, Siemens, Philips, and other devices have integrated AI, IoT, and predictive analytics into their systems to help elderly people enjoy the sense of independence and the peace of mind that comes with it. Major Players Analysis Listed in this Report are: Honeywell International Inc. (LYNX Touch Security System, Total Connect Remote Services) Siemens AG (Building Automation Systems, Desigo CC Management Platform) Legrand SA (Adorne Smart Lighting, Nuvo Whole Home Audio) ABB Group (ABB-free@home System, i-bus KNX) Philips Healthcare (Lifeline Medical Alert System, Hue Smart Lighting) Tunstall Healthcare Group Ltd. (Lifeline Vi Alarm Unit, PNC IP Nurse Call System) Assisted Living Technologies, Inc. (MedReady Dispenser, Motion Sensors) EnOcean GmbH (Wireless Sensors, Wireless Switches) Televic Group NV (Auralis Nurse Call, Unite Communication Platform) Sensara BV (HomeCare System, Lifestyle Monitoring) 2PCS Solutions GmbH (Mobile Emergency Call, Location Tracking) Cogvis Software and Consulting GmbH (Fall Detection, Activity Monitoring) Doro AB (Doro 580 Phone, Secure 480 Alarm) LifeStation, Inc. (Medical Alert System, Mobile GPS Alert) ADT Inc. (Health Alert Plus, Fall Detection Pendant) Climax Technology Co., Ltd. (Care@Home System, Fall Sensor) Bay Alarm Medical (SOS Home, SOS Mobile GPS Button) Telbios (Telemonitoring System, Telemedicine Services) Chubb Community Care (CareUnity Network, Enuresis Sensor) Develco Products (Squid, link Gateway, Zigbee Smoke Alarm) Ambient Assisted Living Market Report Scope Report Attributes Details Market Size in 2023 US$ 6.58 billion Market Size by 2032 US$ 57.47 billion CAGR CAGR of 26.27% From 2024 to 2032 Base Year 2023 Forecast Period 2024-2032 Historical Data 2020-2022 Key Regional Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) Key Growth Drivers Rising Aging Population and Increased Demand for Elderly Care are driving the market growth. Technological Advancements and the Integration of IoT in Assisted Living are propelling the growth of the market. Segment Analysis By Product In 2023, the safety & security segment of the ambient assisted living market led the market and accounted for 28.12% of the global revenue. It comprises smart security systems, fall detection sensors, a medical alert system, and automated door locks. As the risks to senior citizens increase, many of whom live alone, families and caregivers are opting for smart security solutions, along with the option for real-time alerts. AI and machine learning are being used by companies to identify strange patterns of behaviour to act promptly and intervene. Facial recognition and geofencing technology are also at the core of its smart cameras, becoming increasingly popular. These systems provide not only independence but also the reassurance that an older adult can be comfortably independent as the demand for free will grows in the senior demographic. Increasing Adoption of Advanced Home Safety Systems Stemming from Stronger Government Incentives, focusing on aging-in-place programs, especially in North America and Europe, are currently boosting the adoption rate of these advanced home safety systems. Moreover, insurance vendors are starting to see the possible risk reduction these tools can provide, incorporating them into wellness and homecare bundles. The Communication Devices segment is expected to grow with a significant CAGR during the forecast period. Such devices are smart voice assistants, video calling devices, wearable communication systems, and artificial intelligence-based chatbots for older adults. Demand for intuitive, senior-friendly communication technologies to support the increase in telehealth consultations, remote caregiving, and digital companionship services is at an all-time high. Especially for older adults who live alone and/or in remote or rural settings, these tools enable them to stay in touch with healthcare providers as well as family and friends. Amazon Alexa and Google Nest are now incorporating medication reminders, health updates, and emergency contact services. Buy a Single-User PDF of Ambient Assisted Living Market Analysis & Outlook Report 2024-2032@ Regional Analysis North America dominated the global AAL market, capturing 45% of the revenue share in 2023, owing to the well-established healthcare infrastructure, increased public awareness, and vigorous participation of both the governmental and private sectors in the development of eldercare technology in the region. The U.S. has evolved into a center for innovation in AI-enabled home care with increased public-private partnerships and Medicaid reimbursements facilitating smart eldercare tools. The Asia-Pacific is witnessed to be a quick-growing region in the forecast period. Smart health infrastructure in fast-aging countries such as Japan and South Korea. China's 14th Five-Year Plan has named 'Smart Aging' a strategic priority, and pilot programs incorporating intelligent eldercare and integrated digital health are already being implemented. The increased penetration of the internet and smartphone usage in India, Australia, and Southeast Asia among the elderly population is are supporting adoption. Recent Developments Philips Healthcare introduced the next-gen CareSage platform with predictive analytics, allowing care teams to preemptively pick up the health deterioration of patients before it becomes critical. In April 2024, Samsung Electronics said it was working with senior housing operators in the U.S. to implement its SmartThings-based ambient care solutions, such as motion sensors and sleep monitoring tools, for aging-in-place. Ambient Assisted Living Market Segmentation Medical Assistance Products Safety and Security Communication Devices Telemonitoring Mobility Compensatory Impairments Others Need Any Customization Research on Ambient Assisted Living Market, Enquire Now@ Table of Contents – Major Key Points 1. Introduction 2. Executive Summary 3. Research Methodology 4. Market Dynamics Impact Analysis 5. Statistical Insights and Trends Reporting 5.1 Aging Population and Dependency Ratios (2023) 5. Technology Penetration and Smart Home Adoption Rates (2020–2032) 5.3 Regional Deployment of Assisted Living Technologies (2020–2032) 5.4 Public vs. Private Funding in AAL Programs (2023) 6. Competitive Landscape 7. Ambient Assisted Living Market by Product 8. Regional Analysis 9. Company Profiles 10. Use Cases and Best Practices 11. Conclusion Related Report Global IoT Medical Devices Market Forecast Smart Healthcare Market Analysis Global Wearable Medical Devices Market Outlook Global Artificial Intelligence in Healthcare Market Analysis Medical Device Connectivity Market Growth About Us: SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world. CONTACT: Contact Us: Jagney Dave - Vice President of Client Engagement Phone: +1-315 636 4242 (US) | +44- 20 3290 5010 (UK)Sign in to access your portfolio
Yahoo
21-05-2025
- Business
- Yahoo
Ambient Assisted Living Market Size to Reach USD 57.47 Billion by 2032 Growing at a CAGR of 26.27%
Global Ambient Assisted Living Market Growth is Driven by Aging Population and Smart Healthcare Integration. Austin, May 21, 2025 (GLOBE NEWSWIRE) -- Ambient Assisted Living Market Size & Growth Analysis: 'According to SNS Insider, The Ambient Assisted Living Market was valued at USD 6.58 billion in 2023, and by the year 2032, it will be USD 57.47 billion, with a CAGR of 26.27% between 2024 and 2032.' Ambient Assisted Living (AAL) systems integrate various intelligent technologies and services to assist elderly and disabled people to stay in their homes and communities safely and independently. The global geriatric population, increasing prevalence of chronic disease, and care delivery model focus on patient-centric care are driving the market growth. Facilitated by government efforts to digitise healthcare infrastructure and growing demand for services like telemedicine and availability of real-time health data and smart homes, the adoption is being powered by both developed as well as developing a Sample Report of Ambient Assisted Living Market@ The U.S ambient assisted living market was valued at USD 2.04 billion in 2023, and is anticipated to reach USD 17.55 billion by 2032, witnessing a CAGR of 26.06% during 2024 - 2032. The U.S. was the largest global AAL market in 2023 due to high healthcare expenditure, a growing geriatric populace (expected to surpass 80 million by 2040), and increasing adoption of AI-powered health and safety technologies. In-home support for seniors has seen huge growth with government programs such as the Older Americans Act and Medicare-funded homecare solutions, which are now stealing a march on the provision of remote monitoring, fall detection, and digital communication tools designed specifically for senior care. Major companies such as Honeywell, Siemens, Philips, and other devices have integrated AI, IoT, and predictive analytics into their systems to help elderly people enjoy the sense of independence and the peace of mind that comes with it. Major Players Analysis Listed in this Report are: Honeywell International Inc. (LYNX Touch Security System, Total Connect Remote Services) Siemens AG (Building Automation Systems, Desigo CC Management Platform) Legrand SA (Adorne Smart Lighting, Nuvo Whole Home Audio) ABB Group (ABB-free@home System, i-bus KNX) Philips Healthcare (Lifeline Medical Alert System, Hue Smart Lighting) Tunstall Healthcare Group Ltd. (Lifeline Vi Alarm Unit, PNC IP Nurse Call System) Assisted Living Technologies, Inc. (MedReady Dispenser, Motion Sensors) EnOcean GmbH (Wireless Sensors, Wireless Switches) Televic Group NV (Auralis Nurse Call, Unite Communication Platform) Sensara BV (HomeCare System, Lifestyle Monitoring) 2PCS Solutions GmbH (Mobile Emergency Call, Location Tracking) Cogvis Software and Consulting GmbH (Fall Detection, Activity Monitoring) Doro AB (Doro 580 Phone, Secure 480 Alarm) LifeStation, Inc. (Medical Alert System, Mobile GPS Alert) ADT Inc. (Health Alert Plus, Fall Detection Pendant) Climax Technology Co., Ltd. (Care@Home System, Fall Sensor) Bay Alarm Medical (SOS Home, SOS Mobile GPS Button) Telbios (Telemonitoring System, Telemedicine Services) Chubb Community Care (CareUnity Network, Enuresis Sensor) Develco Products (Squid, link Gateway, Zigbee Smoke Alarm) Ambient Assisted Living Market Report Scope Report Attributes Details Market Size in 2023 US$ 6.58 billion Market Size by 2032 US$ 57.47 billion CAGR CAGR of 26.27% From 2024 to 2032 Base Year 2023 Forecast Period 2024-2032 Historical Data 2020-2022 Key Regional Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) Key Growth Drivers Rising Aging Population and Increased Demand for Elderly Care are driving the market growth. Technological Advancements and the Integration of IoT in Assisted Living are propelling the growth of the market. Segment Analysis By Product In 2023, the safety & security segment of the ambient assisted living market led the market and accounted for 28.12% of the global revenue. It comprises smart security systems, fall detection sensors, a medical alert system, and automated door locks. As the risks to senior citizens increase, many of whom live alone, families and caregivers are opting for smart security solutions, along with the option for real-time alerts. AI and machine learning are being used by companies to identify strange patterns of behaviour to act promptly and intervene. Facial recognition and geofencing technology are also at the core of its smart cameras, becoming increasingly popular. These systems provide not only independence but also the reassurance that an older adult can be comfortably independent as the demand for free will grows in the senior demographic. Increasing Adoption of Advanced Home Safety Systems Stemming from Stronger Government Incentives, focusing on aging-in-place programs, especially in North America and Europe, are currently boosting the adoption rate of these advanced home safety systems. Moreover, insurance vendors are starting to see the possible risk reduction these tools can provide, incorporating them into wellness and homecare bundles. The Communication Devices segment is expected to grow with a significant CAGR during the forecast period. Such devices are smart voice assistants, video calling devices, wearable communication systems, and artificial intelligence-based chatbots for older adults. Demand for intuitive, senior-friendly communication technologies to support the increase in telehealth consultations, remote caregiving, and digital companionship services is at an all-time high. Especially for older adults who live alone and/or in remote or rural settings, these tools enable them to stay in touch with healthcare providers as well as family and friends. Amazon Alexa and Google Nest are now incorporating medication reminders, health updates, and emergency contact services. Buy a Single-User PDF of Ambient Assisted Living Market Analysis & Outlook Report 2024-2032@ Regional Analysis North America dominated the global AAL market, capturing 45% of the revenue share in 2023, owing to the well-established healthcare infrastructure, increased public awareness, and vigorous participation of both the governmental and private sectors in the development of eldercare technology in the region. The U.S. has evolved into a center for innovation in AI-enabled home care with increased public-private partnerships and Medicaid reimbursements facilitating smart eldercare tools. The Asia-Pacific is witnessed to be a quick-growing region in the forecast period. Smart health infrastructure in fast-aging countries such as Japan and South Korea. China's 14th Five-Year Plan has named 'Smart Aging' a strategic priority, and pilot programs incorporating intelligent eldercare and integrated digital health are already being implemented. The increased penetration of the internet and smartphone usage in India, Australia, and Southeast Asia among the elderly population is are supporting adoption. Recent Developments Philips Healthcare introduced the next-gen CareSage platform with predictive analytics, allowing care teams to preemptively pick up the health deterioration of patients before it becomes critical. In April 2024, Samsung Electronics said it was working with senior housing operators in the U.S. to implement its SmartThings-based ambient care solutions, such as motion sensors and sleep monitoring tools, for aging-in-place. Ambient Assisted Living Market Segmentation Medical Assistance Products Safety and Security Communication Devices Telemonitoring Mobility Compensatory Impairments Others Need Any Customization Research on Ambient Assisted Living Market, Enquire Now@ Table of Contents – Major Key Points 1. Introduction 2. Executive Summary 3. Research Methodology 4. Market Dynamics Impact Analysis 5. Statistical Insights and Trends Reporting 5.1 Aging Population and Dependency Ratios (2023) 5. Technology Penetration and Smart Home Adoption Rates (2020–2032) 5.3 Regional Deployment of Assisted Living Technologies (2020–2032) 5.4 Public vs. Private Funding in AAL Programs (2023) 6. Competitive Landscape 7. Ambient Assisted Living Market by Product 8. Regional Analysis 9. Company Profiles 10. Use Cases and Best Practices 11. Conclusion Related Report Global IoT Medical Devices Market Forecast Smart Healthcare Market Analysis Global Wearable Medical Devices Market Outlook Global Artificial Intelligence in Healthcare Market Analysis Medical Device Connectivity Market Growth About Us: SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world. CONTACT: Contact Us: Jagney Dave - Vice President of Client Engagement Phone: +1-315 636 4242 (US) | +44- 20 3290 5010 (UK)Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
