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Ageing innovation forum targets silver market

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The Straits Times on 26 Apr 2017

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As Singapore's population ages, there is a greater need for new models of care and new products for seniors.

 

Some of these were on display at the 8th International Ageing Asia Innovation Forum 2017 (AAIF2017), which had both local and international experts sharing their insights and showcasing their best practices.

 

More than 30 exhibitors from countries including Australia, Finland, Indonesia and Japan also had products to exhibit in conjunction with the forum.

 

While there were many products for elderly people, Japanese eldercare provider Silverwood also had a virtual-reality application to simulate the life of a person living with dementia. It is estimated that 4.6 million people in Japan have dementia.

 

Silverwood president Tadamichi Shimogawara said: "Every day, we interact with many dementia patients. This is what triggered the project."

 

The number of people aged 65 and above in Singapore is expected to reach 900,000 by 2030.

 

The founder of Ageing Asia, Ms Janice Chia, said there are increasing opportunities for products and services in the silver market, in view of the changing needs. "Product and service innovation will then be necessary to increase productivity and efficiency to cater for better delivery of care," she said.

 

Source: The Straits Times © Singapore Press Holdings Limited. Reproduced with permission.