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Growing caregiver market seeks medication management solutions
AARP’s Project Catalyst — an initiative aimed at sparking healthcare innovation focused on people ages 50 years and older — in a report from April projects that by 2020, 117 million Americans will need some sort of caregiving assistance. At that point, the size of the market for the 45 million unpaid and 5 million paid caregivers is estimated to reach $72 billion, with RAND estimating opportunity costs around caregivers to be $522 billion every year, based on income unpaid caregivers lose in time spent on eldercare.
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Growth categories will pay dividends
In 2017, there will be three growth categories within the OTC sector that will continue to post dividends to retail pharmacy’s bottom line across the self-care aisle. We’re calling them the old, the now and the future.
(Click here to view the full Category Review.)