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Revolutionizing Healthcare: A Glimpse into the Future of Home Healthcare, Personal Emergency Response Systems, One-Piece Shower Stalls, and Respiratory Care Innovations

In this week’s email:

• Today’s Insight from AgingHere

• U.S. Home Healthcare Market to Soar to $36.05 Billion by 2030

• The Rise and Evolution of the PERS Market in Senior Care

• The Ultimate Guide to Choosing the Perfect One-Piece Shower Stall: Top Picks, Reviews, and Buying Tips for 2023

• Transforming Respiratory Care Through Value-Based Models and Advanced Technologies

• Today’s AgingHere Survey

• Making us laugh this week

• AgingHere Referral Program

• Today’s Sponsor: Mastering Medicare Podcast (MasteringMedicare.net)

Big News: The AgingHere Slack Community is now live! This is your go-to space for real-time networking and knowledge-sharing in the senior and aging sector. From elder care attorneys to health tech enthusiasts, this premium community is tailored just for you. Click here to join and accelerate your professional growth!

Today’s Insight from AgingHere

The U.S. Home Healthcare Market is experiencing a significant surge, with projections estimating it to reach $36.05 billion by 2030, growing at a CAGR of 6.3%. This sector, valued at $22.14 billion in 2022, is evolving rapidly due to advancements in technology, the aging population, and the rising prevalence of chronic diseases. Home healthcare services, offering convenience and cost-effectiveness, include skilled and unskilled healthcare services and a range of equipment, providing patients with medical care in the comfort of their homes.

The ongoing trend of digitalization is playing a pivotal role in this market expansion. The rise in the usage of health apps and wearables facilitates seamless communication between patients and healthcare providers, empowering individuals to take control of their health. The increasing geriatric population, accounting for about 16.9% of the nation’s population, is also driving the demand for home healthcare services, with projections showing a rise to an estimated 85.7 million by 2050. However, the market faces challenges such as risks associated with home healthcare equipment and a shortage of skilled workforce, which could hamper growth.

Technological advancements are opening new avenues for market growth, with key players introducing innovative products to meet the needs of the aging and those living with disabilities. For instance, CVS Pharmacy launched six new innovative home health care products in February 2022. Additionally, in May 2023, Bayer's Consumer Health Division initiated a business unit focusing on developing new Precision Health products, emphasizing personal health through digital solutions and novel delivery mechanisms. The market is poised for substantial growth, with skilled home healthcare services and therapeutic equipment segments holding dominant positions due to their crucial role in managing chronic diseases and post-surgery recoveries.

U.S. Home Healthcare Market to Soar to $36.05 Billion by 2030

The U.S. Home Healthcare market is projected to reach $36.05 billion by 2030, growing at a CAGR of 6.3% from 2023, according to a report by Coherent Market Insights. Valued at $22.14 billion in 2022, this market encompasses services and equipment provided to patients in their homes, including skilled and unskilled healthcare services and various therapeutic and diagnostic equipment. The growth is attributed to the increasing prevalence of chronic diseases, a rising geriatric population, and advancements in home healthcare technology. The market is experiencing a surge in the use of mobile apps and online platforms for healthcare, with digitalization playing a crucial role in facilitating communication between patients and providers. However, risks associated with home healthcare equipment and a shortage of skilled workforce pose challenges to the market growth. Key market players include Medline Industries Inc., Medtronic Plc, 3M Healthcare, and Baxter International Inc., among others. read more.

The Rise and Evolution of the PERS Market in Senior Care

The Personal Emergency Response System (PERS) market is experiencing a surge, becoming an indispensable part of senior care and safety. These wearable devices, often in the form of pendants or wristbands, act as a lifeline for seniors and those with medical conditions, allowing them to summon help at the press of a button. But they're not just SOS buttons anymore; thanks to technological advancements, modern PERS devices come with features like fall detection and GPS tracking. Driven by a rapidly aging global population and the growing trend of 'aging in place,' the market is set to expand at a CAGR of 5.2% from 2022 to 2032. With key players like AT&T and GreatCall leading the way, the PERS market is poised for significant growth and innovation in the coming years. read more.

The Ultimate Guide to Choosing the Perfect One-Piece Shower Stall: Top Picks, Reviews, and Buying Tips for 2023

Navigating the maze of one-piece shower stalls can be overwhelming, but this ultimate guide aims to simplify your buying journey. From top picks like the RecPro RV Shower Surround with its easy glue-in design to the E.L. Mustee Durastall featuring a comprehensive kit, the guide offers a variety of options to suit different needs and budgets. It even includes modern innovations like the DreamLine kits with acrylic bases and backwalls. With added insights on what to consider before making a purchase, such as functionality, price, and customer reviews, this guide is your one-stop resource for making an informed, hassle-free decision on the best one-piece shower stall for you. read more.

Transforming Respiratory Care Through Value-Based Models and Advanced Technologies

In the rapidly evolving realm of health care, the integration of value-driven care models into the homecare sector signifies a groundbreaking shift. This transformation, spurred by the expansion of Medicare Advantage plans, is steering the industry away from traditional fee-for-service models towards collaborations emphasizing enhanced patient outcomes and efficient resource use. Central to this revolution is respiratory health, where advanced technologies like AI and machine learning are set to redefine patient care. As the focus intensifies on patient outcomes as a growth metric, the future of respiratory care hinges on a blend of technological innovation and strategic partnerships, aiming for holistic patient management and sustainable health care solutions. read more.

Making us laugh this week:

AgingHere Referral Program

Today’s Sponsor: Mastering Medicare (MasteringMedicare.net)

Listen to Mastering Medicare Podcast Episode 23 Medicare broker deep dive - interview with Matt Gibson from 90 Days From Retirement

AgingHere Inspirational Quotes

When we care for seniors, we create a ripple effect of love, kindness, and compassion that extends far beyond our reach.