The global gerontechnology market was estimated to be worth USD 75.1 billion in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 13.1% over the course of the forecast period. Due to the growing number of older persons worldwide and the growing need for technologies that promote autonomous, healthy, and dignified aging, the gerontechnology market—also referred to as age tech—is expanding significantly. With an increasing number of people over 60, the aging population is the main factor driving this industry. Furthermore, the need for age-tech solutions is rising as the number of caretakers declines.

With advancements in AI, robots, and personalized health solutions, gerontology is predicted to progress. In summary, the demands of an aging population and the potential of technology to improve their quality of life are the main drivers of the dynamic and quickly changing gerontechnology sector.

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Growth Drivers

The world's aging population, especially in wealthy nations, is the main cause. Solutions that help older persons age in place, preserve their independence, and improve their quality of life are becoming more and more necessary as a result of this demographic trend. The market for gerontology is expanding due in large part to technological improvements. How care is provided to older persons is changing as a result of advancements in telemedicine, medical gadgets, and health monitoring systems. The safety and independence of senior citizens are improved by technologies including robotic support devices, smart home systems, and wearable health monitoring.

The demand for fitness, nutrition, and preventative care goods catered to older individuals is rising as their awareness of health and wellness increases. Technological innovations like telemedicine, smart home systems, and wearable health equipment help seniors stay connected and manage their health.

Segmentation

Gerontechnology Market by Type

·         Social Gerontology

·         Environmental Gerontology Technological

·         Biogerontology

Gerontechnology Market by Application

·         Fitness and Wellness Services

·         Non-Profit Organizations

·         Business Communities

·         Hospitality

·         Travel

·         Healthcare

Gerontechnology Market by Age

·         65-75 years

·         75-85 years

·         85 and above

Gerontechnology Market by Technology

·         Wearable Devices

·         Smart Home Devices

·         Others

By Regions

·         Asia-Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Key Players

·         Centre of Ageing Better;

·         Care Centers;

·         Keele Centre for Social Gerontology;

·         HelpAge India;

·         Administration on Aging,

·         Gerontology Research Center;

·         National Aging Research Institute;

·         World Health Organization;

·         British Geriatrics Society

·         Other Players

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