Market Research Report
China Aged Care Industry Report, 2019-2025
|Published by||ResearchInChina||Product code||298452|
|Published||Content info||200 Pages
Delivery time: 1-2 business days
|China Aged Care Industry Report, 2019-2025|
|Published: June 6, 2019||Content info: 200 Pages||
China's society has aged before it gets rich. By the end of 2018, people aged over 60 had numbered 249.5 million in the country, or 17.9% of the total population, of which those aged over 65 were 167 million, an 11.9% share of the total population. The old-age dependency ratio reached 18.6%.
China's birth rate peaked in 2016 and has been declining since then, pushing up the share of aged population, because the exorbitant cost of living leads to the reluctance to have children, even if the two-child policy has been implemented across the country. The population aging is expected to deteriorate in China in the upcoming years.
Stimulated by favorable policies, China's old-age security system has been progressively perfected and covers more aged people. By the end of 2018, the number of people participating in the basic endowment insurance program had been up to 942.40 million, including 418.48 million urban employees and 523.92 million urban and rural residents. In 2018, the basic endowment insurance revenue reported RMB5,395.3 billion, an annualized upsurge of 15.7%, RMB4,708.2 billion of which was spent, 16.5% more than in the previous year.
Aged care industry involves old-age apartment construction, household management service, and financial service industry as well as treatment, pharmaceuticals & health-care products, home appliances, health management and other medical and health care services for the elderly. This report resolves around the old-age real estate market.
The Chinese aged care market is worth approximately RMB4 trillion, a figure expected to climb to RMB13 trillion by 2030. The market enjoys a bright future. Driven by potential benefits and preferable policies, some real estate developers, insurers and enterprises with diversified operations as well as a number of foreign companies have set about deploying aged care projects in China.
China's aged care industry will show trends as follows: