China will usher in the second peak of the elderly population growth after 2022 with the average annual growth expected to be 11 million, according to the Intelligent Elderly Care Blue Book: China’s Intelligent Elderly Care Industry Development Report for 2018 that was released recently.
The Blue Book predicts that by the end of the 13th Five-Year Plan period, the number of elderly people over the age of 60 will increase to around 255 million, accounting for about 17.8% of the total population, and the old-age dependency ratio will increase to about 28%.
The first peak of the elderly population growth in China will end around 2018, with an average annual growth of 8.4 million. The country will usher in the second peak of the elderly population growth after 2022 with an average annual growth rate of 11 million.
The Blue Book points out that the universal application of smart homes will be the main form of smart old-age care in the future through the integration of the next generation of information technology, Internet of Things, cloud computing, big data and artificial intelligence into the families of the elderly to provide convenient and comfortable service for the security for the elderly.
In addition, the intelligent elderly care industry will enter maturity in 2020 while the time from 2018 to 2020 is the rapid growth period when the various types of enterprises that adapt to the intelligent old-age service industry have basically been established, innovative service models have emerged, and the investment and financing market is very active.
However, the Blue Book also pointed out some problems and challenges still facing the development of China's intelligent elderly care industry, including the current lack of standards for the old-age care system, the shortage of intelligent old-age care products, the barriers between intelligent old-age products and intelligent old-age systems, insufficient sharing of public health medical data, and the difficulty for the intelligent old-age care service to adapt the information management and supervision to market development.
(Source: ourjiangsu.com)
