With the gradual emergence of young people's "elderly care anxiety" and the increasing public awareness, people have become curious about the elderly care industry, and capital has also poured in. Five years ago, a report predicted that the elderly in China would support the elderly care industry. The trillion-dollar market that is about to explode. Elderly care is an industry where supply cannot keep up with demand.
New opportunities.
In 2021, the silver market in China was approximately 10 trillion yuan, and it continues to grow. The average annual compound growth rate of per capita consumption among the elderly in China is about 9.4%, surpassing the growth rate of most industries. Based on this projection, by 2025, the average per capita consumption of the elderly in China will reach 25,000 yuan, and it is expected to increase to 39,000 yuan by 2030.
According to data from the Ministry of Industry and Information Technology, the domestic elderly care industry market size will exceed 20 trillion yuan by 2030. The future of China's elderly care industry has broad development prospects.
Upgrading trend
1.Upgrading of macro mechanisms.
In terms of development layout, the focus should shift from emphasizing the elderly care service industry to emphasizing the elderly care service industry. In terms of target guarantee, it should transition from solely providing assistance to elderly individuals with no income, no support, and no children, to providing services to all elderly individuals in society. In terms of institutional elderly care, the emphasis should shift from non-profit elderly care institutions to a model where for-profit and non-profit elderly care institutions coexist. In terms of service provision, the approach should shift from direct government provision of elderly care services to government procurement of elderly care services.
2.The translation is as follows
The elderly care models in our country are relatively monotonous. In urban areas, the elderly care institutions generally include welfare homes, nursing homes, senior centers, and senior apartments. Community-based elderly care services mainly consist of elderly service centers, senior universities, and senior clubs. The current elderly care service models can only be considered in the early stage of development. Drawing from the experience of developed Western countries, its development will further refine, specialize, standardize, normalize, and systematize the service functions and types.
Market Forecast
According to the predictions of various sources, including the United Nations, the National Population and Family Planning Commission, the National Committee on Aging, and some scholars, it is estimated that China's elderly population will increase by an average of about 10 million per year from 2015 to 2035. Currently, the rate of elderly empty-nest households in urban areas has reached 70%. From 2015 to 2035, China will enter a rapid aging phase, with the population aged 60 and above increasing from 214 million to 418 million, accounting for 29% of the total population.
China's aging process is accelerating, and the scarcity of elderly care resources has become a very serious social issue. China has entered a phase of rapid aging. However, every phenomenon has two sides. On one hand, population aging will inevitably bring pressure to national development. But from another perspective, it is both a challenge and an opportunity. The large elderly population will drive the development of the elderly care market.
Post time: Jun-29-2023
