Jul 25, 2007

Can Ailing Boomers Be Intel’s New Market

From a Sara Solovitch article in the Silicon Valley / San Jose Business Journal, Intel is collecting data on the “860 million people worldwide who are diagnosed with one or more chronic diseases,”

That number will double in the next 18 years and double again in another 25. How Intel will turn that into future profits is anyone’s guess. From the article:

“They see a future of profit gain for innovators with products and services to deal with this senior tsunami and years of profit drain at businesses where growing numbers of employees become caregivers.”

"Yes, it's a business opportunity for Intel but it's also a business imperative," Eric Dishman, general manager and global director of Intel's Health Research & Innovation Group concedes. "We have 90,000 employees and we know that a third of them do elder care. For many, it's a huge challenge -- like having a day job and a night job."

“According to an AARP study, the economic value of family caregiving is worth $350 billion a year -- with productivity losses costing American businesses $33 billion.”

“As 78 million Baby Boomers reach retirement age in less than three years, the impact is set to skyrocket. By 2030, 60 percent of Boomers will be managing more than one chronic condition; by 2040, seniors will outnumber caregivers 3-to-1.”

Previous articles: Intel Corp. An Interesting Twist About Their Layoffs, Intel Chipping Away Another 1,000 and Intel Investing 2.5B In New Plant - In China