Fountain of Old Age

Fountain of Old Age

According to this article, it is estimated that in the United States one in every five individuals are likely to be age 65 years and above. This article tends to report a period of human life that most individuals never used to experience. Through research and many interviews, the article designates the older years as a new era of life for human life. Nevertheless, many companies are realizing the staying power of the mature market since individuals live longer and are more active. Now that the boomers are turning 65 and above, marketing organizations and marketing companies have been gathering information to find different products to sell to this profitable market. The optimistic, young researchers at MIT have designed apparatus resembling a jumpsuit to assist producers and sellers better understand aging population and generate advanced products for them.

AgeLab improves technologies to assist older people to conserve their health, individuality and value of life. The idea explained in this article is to assist companies in designing and selling customized age-friendly products just like the environmentally friendly products were designed. Many economic experts view this rising aging population as a looming budget crisis. Global Aging 2010 cautions that several nations are not in a position to cater for the aging population s pension and health care costs. Therefore, if the state does not regulate their age-related expenditure plans in the future, then the rate of borrowing will increase to challenge the gross domestic product.

The growing old age population attracts new businesses that involve technology services that encourage good health, flexibility, independence, and societal connectivity. These include wireless containers that convey facts regarding patients’ medicine use and new retirement financial services that assist peoples future financial plans. Hence, these products have already created a multibillion-dollar market, and when these products promote health and independence, then the health care system could have much savings making it even much greater.

In conclusion, the article highlights that people should start rebranding aging as a positive physical development that needs to be connected with technology. There are great market chances to bring technology and services that permit for well-being and better lifestyle. People, companies, and leaders should start stigmatizing aging as different phenomenon since it is the next big challenge that will have to be handled in the near future.