• 0086-512-62626885(7)
  • Home > News > Company News

    Industry Analysis | 16 trillion yuan Pension Market, Where Are the Opportunities

    2023-04-07

    Smart Elderly Care

    Research on China's Elderly Care Industry

     


    Current situation of elderly care issues

     

     
            In the consumer market where new products are constantly emerging, compared to young users who have received much attention, elderly users seem to be a "marginalized group" in the market. Although there are always young people, we cannot ignore the fact that China's aging population is accelerating. China has become the first country in the world with an elderly population exceeding one billion. The former "marginalized groups" will become an important force in defining the market in the future.

            In this year's two sessions, the government has given a clear attitude towards the policy of delaying retirement, and will prudently launch it at an appropriate time based on careful research and thorough argumentation. According to the latest proposal for institutional reform, the improvement of the aging work system has also been officially proposed, emphasizing the need to implement a national strategy to actively respond to population aging.
    Data shows that the elderly population aged 65 and above in China has increased from 150 million in 2016 to 201 million at the end of 2021, with the proportion increasing from 10.8% to 14.2%. This is related to factors such as improved medical conditions and extended life expectancy. According to the "2021 Statistical Bulletin on the Development of China's Health Industry" released by the National Health Commission, the average life expectancy of Chinese residents has increased from 77.93 years in 2020 to 78.2 years in 2021.

           In response to the phenomenon of population aging, the country has adopted policy adjustments and proposed the "Implementation of a National Strategy for Actively Responding to Population Aging" at the Fifth Plenary Session of the 19th Central Committee. Afterwards, the country successively introduced a series of policies to encourage the development of the silver economy. In March 2021, the 14th Five Year Plan for National Economic and Social Development of the People's Republic of China and the Outline of Long Range Goals for 2035 proposed to promote the coordinated development of elderly care and the elderly care industry. Elderly care refers to the provision of public services, infrastructure, and public goods by the government, which is a public welfare; The elderly care industry refers to the profitable elderly care services and products that meet the material and cultural needs of the elderly. The elderly care industry provides basic basic services for the elderly, while the elderly care industry follows the trend of consumption upgrading and meets personalized and high-quality elderly care needs. In addition, the Report on the Work of the Government in 2023 proposed to actively respond to population aging, develop community and home-based elderly care services, and effectively promote the development of the aging cause and elderly care industry. With the gradual increase of the elderly population, relying solely on government funded elderly care services is no longer sufficient. The country has launched a series of policies to provide support from various aspects such as taxes, housing, and water and electricity costs, promoting the development of commercial elderly care services that meet the needs of the elderly and jointly ensuring their later life.
    \
           By 2050, the elderly population will be on par with children. It is expected that by 2100, the composition of the three major age groups worldwide will become 18%, 54%, and 28%, with the proportion of elderly people ultimately significantly surpassing that of children, forming a population inverted pyramid structure that has never appeared in human history.
     

    Product Innovation Cases in the Aging Economy


    In addition to having sufficient intelligent health products, the most painful experience for elderly patients is still the patient themselves. In the final years of life, they have been struggling with the pain, and there are few people around them to accompany them. Obviously, it is not a good life experience. Solving the problem of elderly care islanding caused by ineffective coordination in elderly care institutions, reducing the risks of daily life for the elderly, and improving the quality of nursing care in elderly care institutions are all urgent issues. New elderly care products start from these basic problems and create more possibilities for a comfortable elderly care environment.


    Non-contact sleep monitoring tape

            The non-contact sleep monitoring belt is a life activity sleep monitor with sensor application technology. It is non-interference, non-contact, and does not need to be worn, providing a good user experience for non implantable internet products. Because of its advantages of high accuracy, good feasibility, simple operation, low cost, and relatively mature sign algorithm, it is a widely used scheme for household consumer electronics.
    Supports Bluetooth, Wi Fi, 4G access to apps, and IoT cloud.
    Accurate monitoring:
    1. On/off bed monitoring;
    2. Collection of respiratory rate, heart rate, and other signals;
    3. Body movement turnover monitoring;
    4. Sleep report/analysis;
    The sleep monitoring IoT solution consists of monitoring devices and execution devices, providing non-contact monitoring devices/modules, cloud and app services, and achieving IoT control of smart devices in the bedroom during nighttime sleep, improving the sleep experience; The elderly care plan can conveniently help elderly care institutions improve nursing efficiency and reduce management costs.


    Traditional Chinese Medicine Pulse Diagnosis Products

          Use the flexible pulse sensor CP301 of Nexta product with the flexible pulse detector MP301. Printing flexible nano functional materials with strong adhesion, bending resistance, and high sensitivity on flexible and lightweight materials, enabling them to achieve high sensitivity detection of pressure and achieve human like skin perception function, which can sense small pressure or tactile signals.
     


    Intelligent Snoring Pillow

    Adopting non-contact flexible micro nano piezoelectric sensors.
    The non-contact sleep monitoring belt is a life activity sleep monitoring instrument based on sensor application technology.
    1. Built in advanced algorithms to accurately capture multidimensional human physiological parameters;
    2. Real time monitoring of parameters such as heart rate, respiratory rate, body movements, abnormal breathing, snoring detection, and out of bed;
    3. Implement sleep report generation function on the device side;
    4. Accurate sleep quality scoring based on multi-dimensional parameters such as sleep depth and sleep pattern;
    5. Manage sleep through daily, weekly, and monthly reporting dimensions.


     

    Smart Mattress

            In response to the issue of nighttime risk management for elderly people, flexible film sensing technology with high sensitivity is applied to intelligent mattresses, continuously and accurately identifying the user's pressure ulcer prevention and whether they are in bed without disturbing the user. This also provides safety guarantees for elderly people with Alzheimer's disease, detects their bed condition, and provides an important basis for reliable and scientific nighttime risk management and the development of healthy elderly care plans.
            The extension of life expectancy will generate a huge demand for health, promoting the great development of the health management industry.
            At the moment when the elderly care industry is still exploring and developing, young people living alone should start systematic physical exercise and develop good living habits. This can reduce the torment of illness and live the rest of their lives in peace in their later years.

     
     
    Follow us
    website:
    www.lssensor.cn
    Telephone:
    0512-62626885
    0512-62626887
    Address: Suzhou, Suzhou Area, China (Jiangsu) Pilot Free Trade Zone
    203, Building 04, Northwest Zone, Nanotown, No. 99, Jinjihu Avenue, Industrial Park
    Home Products Solutions Contact