China Grey Revolution Why China Can Do New Business Of Aging

China on discussions tend to focus on the waist - a nation of more than 1.3 billion people certainly deserves the attention of companies and investors worldwide. China is going through a "gray" revolution. The convergence of forces - demographic transition, family dynamics, and institutional preparedness to provide a promising market for health innovations, care of the elderly and aging services.

Disruptive Demographics in the Middle Kingdom

Gray China - the study of the Asia Monitor data indicate that life expectancy in China was a young man of 41 years compared to over 65 in Europe and North America in 1950. China is closing the durability of the gap. Today, life expectancy in China has jumped to nearly 79 years compared to 82+ years in the Western industrialized countries.

Imagine - a whole nation of people aged more than the total population of Germany and France combined. Living in the world, but the aging Alone - Two socio-economic factors as China's aging today: fewer children and economic development. The child policy often quoted a family founded in 1979, has been effective in the management of population growth. It also led to a fundamental change in the support of the China relationship (the number of people working for the number of people above retirement age). According to the Center for Strategic and International Studies, China's support to the ratio is more than 5 people working for every senior in 2030 may be only 2.5 working adults, and by mid-century -1 to 6 people working age for every adult over the retirement age.

Economic opportunity is increasing faster in urban China. An extraordinary number and proportion of Chinese people grow old alone. China Daily reported that 80 million (167 million 60+ population) of elderly people living alone. If accurate, these numbers reflect more than 47 percent of aging alone elderly population, compared to 30 percent of seniors "home alone" in the US - largely defying the common belief that the tradition and culture of family shapes the future of aging alternatives worldwide.

Gap Care - The family has traditionally provided eldercare. Therefore, China has an underdeveloped aging service system. Community higher centers slowly emerging in cities and some rural areas. The National Commission on the China Aging estimates that about 25 percent or 30 million older people need long-term care due to disability and illness. Compared with an estimate of 50-70 long-term care beds per 1000 adults in industrialized countries, there are people only ~ 10 per thousand elderly people in China. In addition facilities, "Careforce" formal in China is about 30 000 workers - an estimated 10 million workers may be required.

Innovate a new top industry in China

A network of aging underdeveloped institutions and related services is a problem for China, but also can be an opportunity. Just apply models from other countries of services designed there decades, not necessarily meet the needs of China aging. Aging in China require the engineering of new organizations that combine public and private providers, services and technologies. The demographics of the imperative China do something now, without real legacy of married service providers to established practices and technologies, it is an opportunity to invent a new business of aging. Recognizing the clear necessity, the Ministry of Civil Affairs of China Wang Hui said in the CCTV interview, "We want to make care services to the elderly in long-term industry."

Research & Innovations

What are the possibilities of creative partnerships, technology and public and private services to support the aging population of China? care of the remote family, health and welfare and aging services are three categories that could be based on existing capacity of China, a wide range of international companies, NGOs and technologies to be implement an exclusively Chinese industry elderly short-term care services.

Family Care distance - the structure of China 4-2-1 family of four elderly parents, a young couple with a child is the sandwich generation in Asia. Insurers currently offer life products in China, for example, Allianz, Ping An, may find that their growing market of young urban consumers are cross-selling opportunity of a product to provide home care services to their parents living near or far area. Other companies that can find family support services during off its core business are banks and money transfer agents that facilitate the transfer of funds of working children in cities their rural relatives. Insurers and banks could add these demands and supply of home care, maintenance and other services to public and private providers authorized.

community centers and senior housing, such as those offered by provincial governments Care Society (established 1950) and modern care (established 1990) should make these services an investment priority and to promote their use. Introduction of applications easy to use video conferencing and Internet social networking sites such as China Kaixin, Weibo, QQ and Youku are new tools to connect the generations.

Health & Wellness - Maintaining good eating habits becomes more important with age. But eat and eat well, it is a social activity. Working in the context of traditional Chinese cuisine, food companies (eg, Groupe Danone, Nestle, General Mills) can find easy to prepare, easy to digest, high-nutrition "functional foods" succeed in the increasingly aging market China.

Management of chronic diseases (particularly hypertension, diabetes, heart disease) in China as in any other country, it is essential for the well-being throughout life as well as manage the staff and public cost of the disability. Disease management services that focus on diet, physical activity, medication adherence and behavior change (eg, smoking cessation) are expanding in developing economies and reaching disadvantaged elderly. Telemedicine can be one of the best investments in China aging. Telemedicine is not a second best alternative care. NGOs, telecommunications companies and major health providers (eg HealthCare Connected Health Center partners, the University of Rochester) could be valuable partners to connect the elderly in rural areas and caregivers with experts in China and in the world.

Aging Services - Cash elderly "Smart" will be a growing need. Rethinking housing as a platform for technology-based services can optimize the integration of "smart" devices and existing services on the market (eg surveillance applications and health management offered by Philips, GE and other Global Alliance Continua Health companies) support safety, disease management, and social services.

Despite advances in technology, health care continues to be a high-touch business. The Careforce shortage in China is critical. Development of professional caregivers and formal certification programs would benefit from collaboration with the professional organizations of long-term care and aging services with experience in training and the use of new technologies (eg, HelpAge International, Home Instead , Life gold). In addition to the training, experience and services to a large-scale health investment (provincial and national systems) and home care information management systems can help families understand the range of services available and the government to ensure the best quality service.

Aging in China is not just about the elderly. This is the well-being of all people in China as well as its performance in the global economy. Demographic trends, lifestyles and institutional readiness for innovation converge to create a tremendous opportunity for companies, aging services, and ultimately, China's people to build an "industry care services for the elderly.

"Further reading

- Coughlin, J. & Pope, J. "Health Innovations, well-being and aging in place: Developing a consumer-centric approach to home Intelligent Services", IEEE Engineering in Medicine and Biology, in July -August 2008.
- "A survey of urban development issues Senior Apartments in China," East China Normal University in 2007
- Coughlin, J. Pope, J., Leedle, B. "old, new technology and future innovations in the disease management and home care" Home Health Management and Practice, 18 (3) pp 196-. - Office of the US Census, International Data Base
- "Forecasting and aging research development trends of China's population" China National Committee on Ageing 2006
- "White Senior Care Development Paper in China," the State Council of China, Dec. 12, 2006,
- "Applications Development Senior Apartments in China", Peking University 2003
- "Senior Development market research Apartments in Beijing," China Academy of Science in 1998