Business Wire recently released that a new brain research centre will be opening up in Ontario, Canada. The city will be investing $23.5 million dollars into the establishment, in which projects that enable healthier brain aging that allows seniors to live at home longer and reduce health care costs with better solutions will take place.
This new centre will be established over the next five years and will effectively combine all of Baycrest’s brain research, clinical and educational programs into one convenient location. Specifically, the centre plans to support the development of new technologies, products and resources to assist with various stages of a patient’s well-being and independence, including a variety of emotional and physical aspects.
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Interestingly enough, this center—the Aging and Brain Health Innovation Centre—will be one of the largest investments in senior care in the entire world. Even more remarkably, the global market for brain health care applications, software and biometrics is expected to grow from $1 billion to $10 billion by 2020.
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It should come as no surprise that Ontario is assisting with this development, as the city’s business environment has been designed for global success. Furthermore, Ontario is known for being a practical and enforcing avenue for international investment and trade.
Particularly, just in Ontario alone, the economic impact of brain and mental health disorders is estimated to cost more than $39 billion annually.
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