Edison Nation Medical Launches Open Innovation Search to Uncover Innovative Senior Care Products Edison Nation Medical Helps Individual Inventors and Small Businesses Successfully Commercialize Their Senior Care Innovation Idea
CHARLOTTE, N.C., Aug. 28, 2014 /PRNewswire/ -- Edison Nation Medical, the premier healthcare innovation marketplace, today announced a worldwide search for product ideas to improve the health and wellness of the senior population. Promising ideas uncovered through the 6-month search (www.EdisonNationMedical.com/Seniors) will be presented to leading medical device manufacturers and healthcare retailers with whom Edison Nation Medical has partnered to improve the lives of individuals age 65 and older.
The objective of the search is to uncover ideas for products, devices, technologies or apps that improve the quality of life and the ability to maintain independence for seniors. Senior health and wellness products cover a broad spectrum of product categories, including (but not limited to):
- Products that assist with daily living activities
- Health monitors
- Medication management systems
- Products that improve safety and mobility
- Senior-friendly portable products and devices
The population of older Americans has been expanding rapidly ever since Baby Boomers began turning 65 -- from 43.1 million in 2012 to an estimated almost 70 million in 2030. By 2030, one in every five (20%) Americans will be over the age of 65, which is nearly double the 12% in 2000, according to the "The State of Aging and Health in America" special report issued by US Centers for Disease Control and Prevention (CDC). The US Administration on Aging's 2012 survey states that 36% of people age 65 and over report some type of disability including:
- Independent living difficulty 15.8%
- Self-care difficulty 8.87%
- Ambulatory difficulty 23.1%
- Cognitive difficulty 9.3%
- Vision difficulty 6.5%
- Hearing difficulty 14.7%
"Two-thirds of all people over age 65 experience multiple chronic conditions ranging from vision or cognitive changes to diseases such as COPD and diabetes. For many people, having a high quality of life while living with chronic conditions is often more important than longevity of life," stated Robert Grajewski, President of Edison Nation Medical, "This increased focus on wellness and staying active and independent for as long as possible translates into a huge opportunity for innovation and products specifically tailored for seniors."
Born out of collaboration with Carolinas HealthCare System (the second largest public health system in the United States), Edison Nation Medical's mission is to create more effective, more efficient and safer healthcare through open innovation. The company makes this a reality by providing a clear and easy pathway through which anyone — physicians, nurses, entrepreneurs, even patients and caregivers — can submit a medical invention idea for full evaluation and potential commercialization.
Edison Nation Medical encourages patients, caregivers, clinicians, designers and any other innovators from around the world to submit ideas through the organization's confidential portal. Joining Edison Nation Medical is free and all ideas are vetted through an in-depth review process led by Edison Nation Medical's team of medical, product development and legal experts. The end goal is to commercialize each qualified product idea and, when successful, licensing royalties or revenues are shared with the inventor.
For more information or to submit an idea, go to www.EdisonNationMedical.com/Seniors.
About Edison Nation Medical:
Edison Nation Medical is a healthcare innovation marketplace with deep expertise in open innovation, product development, and healthcare. Born out of collaboration with Carolinas HealthCare System (the second largest public health system in the United States), Edison Nation Medical's mission is to break down the barriers to healthcare innovation. We make this a reality by providing a clear and easy pathway through our open innovation platform for anyone — physicians, nurses, entrepreneurs, even patients and caregivers — to submit a medical invention idea for full evaluation and potential commercialization.
Edison Nation Medical innovation headquarters is in Charlotte, NC with satellite offices in San Francisco and New York City. For more information, please visit www.EdisonNationMedical.com.
SOURCE Edison Nation Medical