Dementia impacts millions of people globally.
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An NIH study published earlier this year cited a jarring fact: researchers estimate that there is nearly a 42% lifetime risk of dementia for those over the age of 55. In the context of this alarming figure, it is important to note that dementia is a broader umbrella term for memory loss and degradation of thinking in various forms that impact activities of daily living (ADLs). Per the Alzheimer’s association, forms of dementia present as part of a larger spectrum, including:
- Alzheimer’s disease
- Vascular dementia
- Lewy body dementia
- Frontotemporal dementia
- And many other, mixed and hybrid variations
However, regardless of the specific category or disease name, it’s a condition which can significantly impact quality of life.
Fortunately, billions of dollars are being poured into “dementia tech”: technology enabled services that can significantly aid the diagnostic, therapeutic and lifestyle aspects of these conditions.
Take for example Isaac Health, which provides an “in-home” memory clinic service for brain health and memory issues. The company provides a platform to enable assessment, treatment and most importantly, ongoing support and management for patients and caregivers that are experiencing memory conditions. Isaac Health just announced $10.5 in Series A funding, supported by big investor names such as Flare Capital, Black Opal Ventures and Meridian Street Capital.
Another prominent startup in this space that has gained significant attention is Rippl Care, which provides on-demand care services for those with dementia. Last year, the company acquired Kinto, a small startup dedicated to providing education to caregivers of patients with dementia. Overall, Rippl reports that its services have actually led to a 30% reduction in emergency department visits for seniors with dementia.
The wider technology ecosystem is slowly evolving in a way that better serves this healthcare spectrum. The entire world of wearable devices, such as smart watches, glasses, rings etc., serve dementia patients well, as they are able to send reminders, track location and provide accessibility during emergencies. For example, the fall detection feature in the Apple Watch provides alerts in case the user experiences a fall and will automatically call emergency services if they are immobile for a minute or more. This is a huge boon for individuals that may experience memory loss as to where they are at any given time and do not have access to nearby emergency services otherwise.
There’s even an entire application ecosystem for patients with memory loss and dementia to help maintain and gain memory functions. For example, one of the most popular apps is Lumosity, which provides memory exercises and brain training programs.
Why is all of this so important?
Because dementia is a widespread condition that impacts millions of people. The World Health Organization states that in 2021 alone, nearly 57 million people were afflicted with some form of dementia. With increasing disease burden and an aging population across the globe, these numbers will only continue to increase.
Thus, innovation and investment in this arena are positive steps in the right direction. With enough research and support, perhaps there will be a future in which this disease can be prevented or cured, altogether.