Even though the newest technologies, in general, are more popular among younger audiences, the digital health and wellness market has recently taken notice of a new industry vertical – Elderly Health.
In autumn 2021, Kilo Health researchers analyzed 205 deals and defined the key trends related to apps that cater to the needs of older adults.
Even though investors weren’t particularly interested in the Elderly Health vertical in September and November 2021, October was an exceptionally good month for this category. More than 50% of overall investments ($1.2 billion) were raised in it out of more than $2.39 billion raised in October.
Digital health apps are becoming more and more popular among older audiences and help ease the lives of seniors, caretakers, and medical professionals.
We did some research to determine how significant is the elderly segment of our healthcare applications Cardi.Health, Klinio, and Keto Cycle. We are convinced that health management applications truly attract those over 60 and older.
Our data shows that more than half (51.34%) of all app users are aged 60+ and sparked interest in using an app to help manage their cardiovascular health. Almost half (46%) of people who seek help managing diabetes are also over 60. Even weight management is fairly popular among the elderly – 1 in 5 people (22%) were interested in starting a keto-based meal program.
Compared with millennials, the elderly are using digital health apps more often. In autumn 2021, people aged 55+ were taking on the app way more than millennials aged 25–44 years old. Over the period, the millennial segment grew by 30.96% and the elderly by 64.20%. Overall, the elderly group has grown 207% more than the millennial group.
Digital health and wellness play an important role in helping people manage their health. An increasing amount of investments into the digital health and wellness market means faster development of the newest technologies and solutions, which make professional healthcare tools more accessible to anyone in the world, despite their age.
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