Mobility is one of the keys to health and quality of life as one ages. VibeTech will help this population, and earn significant profits while doing so.

According to Bernhard Schroeder, Senior Contributor at FORBES in this May 14, 2020 article, the Aging in Place market is huge and growing, and an entrepreneur can build a company around this population segment.

Schroeder mentions the CDC definition of Aging in Place, which refers to “the ability to live in one’s own home and community safely, independently, and comfortably, regardless of age, income, or ability level.” According to a 2018 survey by AARP, 87% of adults over 65 want to age in place.

Schroeder says this so-called “longevity economy” serves the needs of Americans over 50, and is a $7.1 trillion market and composes 46% of the US economy, according to Oxford Economics. It’s forecasted to increase to $13.5 trillion in a little over 10 years.

Schroeder posits that there are two core reasons why this population desires to age in place.

The first driving force is independence. Baby boomers have been generational “change makers” who strived to go to college, build successful careers, and raise children who would want to do the same and outdo their parents.

The second driving force can be described as “place attachment” or a deep connection to the home where they may have lived for many years and had many happy memories. Packing up and moving somewhere new can pose a significant emotional hurdle.

So what will this population need?

Among the seven categories of products mentioned by Schroeder as essential, two of the most important are addressed by VibeTech: reducing the odds of falls occurring, which is one of the biggest impediments to mobility and being able to stay at home. Second, remote health monitoring.

VibeTech’s therapeutic vibration devices are proven by over 20,000 treatments to date to build leg muscle strength and reduce pain, which are two significant factors in people falling—or worrying about falling—which causes less movement and therefore, more fall risk. VibeTech’s devices can measure initial strength and progress over time, plus will be able to communicate this information to all stakeholders—participant and family, physicians, and other caregivers—all done remotely.

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