Intelligent elderly care to mature in China by 2020
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Following the maturity of intelligent elderly care industry, China is expected to see another boom in its aging population by around 2022, with an estimated average annual growth of 11 million, according to a recent report on the development of China’s intelligent elderly care industry.

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(File photo: VCG)

After a growth period from 2018 to 2020 featuring emerging new service models and investment, the intelligent elderly care industry is expected to enter a mature stage in 2020, with the size of the invisible internet-based market approaching that of the traditional market. 

By 2020, the country’s senior population (from 60 years) is expected to hit 255 million, or 17.8 percent of the country’s population, the report said. With a dependency ratio reaching 28 percent, both demand and quality of elderly care services are embracing improvement.

The report said smart home appliances will be widely adopted into smart elderly care services. A new generation of information technology, internet of things, cloud computing, big data and artificial intelligence products will offer safe, convenient and comfortable services to senior citizens.

However, the report also revealed the problems and challenges the industry is encountering. China lacks a standard, and smart elderly care products are in short supply.

Much work should also be done to enhance connectivity between smart elderly care products and the system, data sharing of public medical services, as well as the supervision of the industry, the report said.