The baby boomer demographic is expected to create a huge senior-care market expansion, according to an article on the Forbes website.
The number of senior-care facilities will increase as this demographic ages; however, the biggest increase in senior assisted living will be with in-home care.
Better technology will be a part of the solution. Technology will replace some of the functions of a professional caregiver/nurse more cost-effectively.
This area of senior home-care is perhaps the largest opportunity for future growth. With facility-based care costing around $5,000 per month, and in-home service at $1,500 to $2,000 per month for 5 to 8 hours of daily care, there will be strong market pressure to reduce end-user costs through technology, the article said.
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