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Senior market drawing more tech startups

December 12, 2013
by Richard R. Rogoski
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A report prepared for AARP by StartUp Health entitled "Digital Health Insights Report for the 50+ Market" shows that total digital health and wellness investments have grown from $958 million in 2010 to $2.29 billion in 2013.

Among the 50+ demographic, funding rose 28 percent in just the past year.

The report, which was published on December 10, attributes early stage innovation within this market segment to healthcare reform, the rise of mobile and digital health technologies, the acceleration of aging and chronic disease and an increase in opportunities for entrepreneurs as the population continues to age.

But the category that has shown the greatest number of opportunities has been in the field of navigating the healthcare system with 78 investments and $384 million in funding between 2010 and 2013. Other categories that have shown a rise in investments and startups include vital signs monitoring, emergency detection and response and medication management.

Interestingly, the report also shows that the largest year-over-year growth in median size deal value—265 percent—was in the area of social engagement with companies like patientslikeme, Live!y, keas and Indepena leading the way.

The newest market opportunity in the 50+ market, according to the report, is medication management which generated $7.06 million in total funding in 2013, compared to $6.72 million in 2012.