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China Aged Care Industry Report, 2016-2020
 
(April 20, 2017)

LONDON, April 20, 2017 /PRNewswire/ -- China entered the aging society early in 1999. By the end of 2015, China's population aged over 60 reached 222 million and the old-age dependency ratio 13.9%. By 2020, China's population aged over 60 is expected to hit 243 million and the old-age dependency ratio 15.8%, accompanied by a further intensified aging trend.

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In 2016, the Chinese government promulgated the Guiding Opinions on Financially Supporting the Accelerated Development of Old-age Service Industry, 13th Five-Year Plan for the Development of Civil Undertakings, Several Opinions on Opening up Old-age Service Market and Improving Old-age Service Quality, and other policies to promote the construction of old-age service facilities and actively develop the medical-nursing combined old-age service system. At the same time, China's old-age security system has been gradually improved, with coverage further expanded. By the end of 2015, the number of people participating in the basic endowment insurance amounted to 858.33 million, including 353.61 million urban employees and 504.72 million urban and rural residents. By 2020, the number of people participating in the basic endowment insurance is estimated to hit 923.8 million.

Aged care industry mainly involves old-age apartment construction, household management service, and financial service industry as well as treatment, pharmaceutical & health-care products, home appliances, health management and other medical and health services for the elderly. This report mainly focuses on the old-age real estate market.

There are business opportunities worth approximately RMB4 trillion in the Chinese aged care market and expected to grow to RMB13 trillion by 2030, showing promising prospects. Under the impetus of potential benefits and favorable policies, some real estate developers, insurance companies and diversified enterprises as well as a number of foreign companiesare starting layout for aged care projects in China.

China's aged care industry will present the following development trends in the future:

First, medical-nursing combined care becomes the dominant mode. Because of the particularity of the elderly and with the support of policies, the "medical-nursing combined" service for the aged will become the main development direction of aged care industry in China. Elderly hospitals, convalescent homes and infirmaries will be opened by aged care institutions to satisfy the elderly's medical-nursing needs.

Second, the market is more competitive. Under the impetus of policies, China will further lower aged care market access thresholds and relax foreign capital access standards. It means there will be more domestic and foreign companies to enter the Chinese aged care market in the future, resulting in more intense competition and gradually matured business model.

Third, mid-end consumer market is expanding. Currently, most of the funds in China have flowed into high-end aged care market, but only high-income groups can afford expensive nursing homes. Relatively, the number of mid-level elderly consumersaccounts for the highest proportion and mid-end consumer market will gradually become the leading force. With the growing demand for old-age provision, China will gradually open mid-end aged care market in the future.

The report highlights the following:
Old-age security system in China, including policy support, old-age security, medical security, financial guarantee, etc.;
Aged care market in China, including market demand, market supply, trends, etc.;
Old-age real estate industry in China, including development status, competitive landscape, profit models, investment risk;
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-aged-care-industry-report-2016-2020-300443126.html

SOURCE ReportBuyer


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