Report by Dr Kelvin Tan (Ph.D.) and Ms Janice Chia
PURPOSE
Understand the Return of Investment (ROI) from technological solutions achieved by service providers of elder care homes and centres. What are the drivers, their expectations, and outcomes?
BACKGROUND
2021 marks a year of innovations and age technologies at its best as the world heralds in a slew of health technologies for older persons. Healthcare solutions are adopted at an accelerated rate owing to the impact of needs resulting from the pandemic. Seniors and their family members who are the beneficiaries of these products are growing more acclimatised to technologies. These developments are impetus for companies for business growth, coupled with the emerging lifestyle of baby boomers cohorts. The longevity economy will expand the opportunities in healthcare, housing, and care industries. Ageing Asia predicted that the total Asia-Pacific ageing market in 2025 would add to a whopping US$4.56 trillion. Hence, it is important to tap into the global trends in ageing technologies.
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