Nelson Advisors referenced in the Centre for Aging + Brain Health Innovation 'AgeTech Insights: The Digest'
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Nelson Advisors has been referenced in the Centre for Aging + Brain Health Innovation 'AgeTech Insights: The Digest'
How do Canadians really feel about growing older?
What do they need to support them as they age? Are there tools or technologies they use—or wish existed—to improve the aging experience? As Canada’s population ages rapidly, these questions are more important than ever. The AgeTech Insights team at the Centre for Aging + Brain Health Innovation (CABHI), powered by Baycrest, is working to answer them.
In Canada, nearly 20% of the population is already over the age of 65, and this number is projected to triple by 2050. Globally, by 2030, an additional 300 million people are expected to be over the age of 65compared to 2023. As populations age, the prevalence of age-related cognitive decline and disease, including dementia, increases. Currently, over 770,000 Canadians are living with dementia, and by 2050, that number is expected to increase to nearly 1.7 million.
Our AgeTech Insights team of experts has recently been focused on better understanding how Canadians experience aging—particularly in relation to cognition and brain health— and how technology is, or could be, used to support aging with purpose, fulfilment, and dignity.
Key insights at-a-glance
Canadians are overwhelmingly aware of cognitive changes that occur as they age and are concerned about their brain health
Comfort levels with technology are high, but not when it comes to using it to support brain health
Current technologies do not meet needs and do not engage users during the design process
Opportunities to meet user needs with agetech
As we continue to experience major demographic shifts worldwide, questions pertaining to the types of technology older Canadians want and the gaps in agetech offerings are not only top of mind but also top of market. In 2025 alone, agetech companies raised over $700M, and over the next four years, the broader dementia treatment market, which includes technology-supported solutions, is expected to grow 8% year-over-year.
Evidence shows that concerns about cognitive decline throughout the aging experience are present, and adoption of everyday technologies is already high, but the available solutions on the market are not tailored to the needs of the target audience. For market growth to translate into lasting impact, emerging technologies must be designed with older persons—the end users—at the core. There is a massive opportunity to develop agetech solutions that thoughtfully address the needs of older persons while also contributing to economic growth in Canada.