Overview
Global AI in Elderly Care Market reached US$ 34.42 billion in 2024 and is expected to reach US$ 208.59 billion by 2032, growing with a CAGR of 25.26% during the forecast period 2025-2032.
The global market for artificial intelligence (AI) in the care of the elderly is increasing rapidly due to the development of new AI-powered assistive technologies, greater life expectancy and rising demand for effective elderly care solutions. The demand is considerable due to racial demographic shifts as the population ages and the incidence of chronic diseases around the world.
Regulatory frameworks and government laws boost AI use among the elderly. For example, the US Food and Drug Administration (FDA) has accelerated the approval process for all medical products based on artificial intelligence (AI), stimulating innovation while maintaining safety. Similarly, the risks associated with applying AI in healthcare in member states are dealt with by the European Medicines Agency (EMA), which establishes limitations on this technology's use in healthcare.
AI in Elderly Care Market Trend
A significant trend in the global AI in elderly care market is the growing use of AI-powered remote monitoring and predictive analytics to improve proactive care. These technologies offer real-time monitoring of vital signs and behavioral patterns, allowing for the early detection of potential health problems and timely interventions.
For example, Cera has created AI tools capable of anticipating up to 80% of health hazards in advance, resulting in a 70% reduction in hospitalizations and a 20% decrease in falls among older persons. Such improvements not only improve health outcomes but also reduce the load on caregivers and healthcare systems, making AI-based solutions a cornerstone in current aged care methods.
Market Scope
Metrics | Details |
By Technology | Machine Learning, Natural Language Processing (NLP), Robotics, Computer Vision, Others |
By Application | Fall Detection and Prevention, Medication Management, Remote Health Monitoring, Social Engagement and Companion AI, Cognitive Stimulation and Brain Training |
By End-User | Home Care Settings, Assisted Living Facilities, Nursing Homes and Long-Term Care Centers, Hospitals and Healthcare Institutions |
By Region | North America, South America, Europe, Asia-Pacific, Middle East and Africa |
Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth |
Dynamics
Technological Advancements and Increasing Aging Population
The aged care market is being driven by the increased use of innovative technology such as machine learning algorithms, robotic assistance and predictive analytics. Because of the availability of real-time health status data, these systems are critical for managing chronic diseases and averting health-related problems. For example, gadgets with artificial intelligence technology can monitor a patient's vital signs and notify health care professionals if any intervention is required to improve the quality of care and prevent unnecessary hospitalization.
The aging population also contributes to market increase. According to the United Nations, there are 1.5 billion people over the age of 65 worldwide and this figure is expected to increase by 2050. Such a shift in population dynamics necessitates efficient and manageable aged care solutions. The majority of elderly people want to stay in their own homes for as long as possible, thus self-care becomes increasingly important and must be reinforced with AI-supported in-home care.
Limited Digital Literacy in the Elderly Citizen
The initial expenses of developing and deploying advanced AI-enabled gadgets are significant barriers for cost-conscious consumers and small healthcare facilities. These high costs may limit access to such technologies, which are intended to improve patient care and expedite operations. The risk of data breaches concerns both consumers and providers, making them cautious to implement these technologies.
Furthermore, the older population's low digital literacy, along with a widespread aversion to new technology, hinders the market's growth possibilities. As a result, while AI in the aged care sector represents significant growth, these financial, privacy, educational and regulatory challenges must be solved to enable broader acceptance and integration into regular medical practices.
Segment Analysis
The global AI in elderly care market is segmented based on technology, application, end-user and region.
Agility in Fall Detection and Prevention Demands in the Market
The global market for fall detection and prevention systems is expanding due to an aging population, rising healthcare expenditures and increased awareness of fall-related dangers. Falls are harmful for the elderly and can result in injury and incapacity, including internal bleeding and fractures such as the femur, shoulder and skull bones. In accordance to the World Health Organization (WHO), the yearly global estimate of falls is 424,000, whereas medically attended falls are estimated to be around 37.3 million falls.
The fall detection and prevention system include wearable gadgets, environmental sensors, AI-assisted monitoring systems and alert systems. According to the Centers for Disease Control and Prevention (CDC), falls cause more than 3 million emergency room visits per year among persons aged 65 and over. Fall detection and prevention technologies permit interventions and enhanced personalized patient care, so the danger of sustaining injuries from falls is dramatically reduced.
Geographical Penetration
High Technology Adoption and Strong Consumer Awareness in North America
North America dominates the global market for AI in aged care services, owing to the region's advanced healthcare system, high rate of technology use and government policy backing. According to the US Census Bureau, 16% of the entire US population was 65 or older in 2022, with that figure predicted to rise to 23% by 2050. These findings imply an increasing need for creative methods to aged care that involve the use of AI technologies.
The increasing number of elderly people suffering from long-term chronic diseases, as well as the increased desire for individualized therapy, are also driving market growth. The application of artificial intelligence enables the collection and processing of vast volumes of data from various platforms, making it feasible to build care regimens that improve the well-being of the elderly. The role of artificial intelligence in eldercare extends beyond enabling strategic health management to even minimizing problems such as a senior citizen's danger of social isolation or medication adherence, which also promotes better living conditions.
Sustainability Analysis
The use of artificial intelligence in aged care services is becoming more ecologically benign as the industry creates digital healthcare solutions with a substantially less carbon impact. In accordance to the Healthcare Sustainability Committee (GSHC), the combination of remote patient monitoring with AI technology would result in a 30% reduction in healthcare-related emissions by 2030.
Aside from remote care options, AI businesses are taking steps to save energy, such as sourcing green data centers and implementing medical device recycling programs. Such contributions not only help to achieve environmental goals, but also promote the proper use of technology in medical treatment. With the world turning to sustainable development, there is a desire for aged care AI-driven solutions that offer healthier and more environmentally friendly solutions.
Competitive Landscape
The major global players in the market include IBM Corporation, InteliCare, CarePredict, Intuition Robotics, Aiva Health, K4connect, UBTECH ROBOTICS CORP LTD, RapidInnovation, Koninklijke Philips N.V. and Siemens AG.
Key Developments
In July 2023, TrueCare successfully developed an AI-driven remote patient monitoring (RPM) program to improve blood pressure management for older patients with persistent hypertension, using technology from Rimidi.
In March 2023, Health Corporation announced the debut of its Care Transitions Program, designed to effectively supplement patients' discharge plans, with a special focus on reducing hospital readmissions among older persons.
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Target Audience 2024
Manufacturers/ Buyers
Industry Investors/Investment Bankers
Research Professionals
Emerging Companies
