The silver economy is in its prime
Europe’s senior population (65+) will reach 130 million by 2050, providing an excellent opportunity for elder-targeted products and services.
Remote patient monitoring, telemedicine, and wearable devices such as smartwatches can make virtual healthcare a reality in an increasingly technologically driven society, particularly for those suffering from chronic conditions.
In 2015, EU-27 households with a person aged 60 years or more tended to spend proportionally more of their expenditure on health (42% higher than the average share for all households).
Since 2016, senior support startups have raised $1.2 billion globally, and series B+ rounds become more typical as the sector matures. Day-to-day care services and products are benefiting the most from the silver economy, receiving almost $500 million since 2016.
We explored the core intersection of health, aging and insurance, in our latest Insurtech report, in partnership with Mundi Ventures, Mapfre and NN.
Report - The State of European Insurtech 2022