As seniors make up a growing percentage of the population, the demand for products and services to help them age gracefully in place will grow dramatically.
Making market predictions is never an exact science, even for the experts. However, in the case of the baby boomers, with their sheer numbers, that they will dramatically affect a given consumer market is virtually guaranteed. “Other companies and industries have to pay for projections of the market. The Census Bureau tells us with precision that this segment of the market is growing,” says Stanley Oppenheim, president of Affiliated Monitoring, located in Union, N.J.
Forward-thinking dealers who are ready for this market boom have an unprecedented opportunity to expand their business opportunities while helping to improve the lives of aging Americans. More and more people will be looking for solutions to help them manage their changing needs, so they can remain in their own homes as long as possible. As this silver tsunami hits and places additional strain on limited health care resources, health care providers, insurance companies, and government agencies will be looking for ways to help them do so. “Keeping people in the home as long as possible is both serving the need of the individual senior and economically in the best interest of the nation,” Oppenheim believes.