Taiwan sees opportunity in ageing consumers
May 7, 2012 | By Kim Walker
It seems that Taiwan is waking up to the issues and opportunities of its ageing population as well as the export opportunities presented by this global phenomenon.
By the end of 2011 the number of Taiwanese citizens aged 65 or above stood at 2.53 million, or 10.89 percent of the total population. By contrast, there were only one million senior citizens 18 years ago.
The government forecasts that by 2015 one out of five people in Taiwan will be above the age of 65.
Opportunities abound in the medical device manufacturing industry. The output value of Taiwan’s medical devices industry reached NT$92.8 billion (US$314 million) in 2010, up 12.5 percent from the year before.
The top three best-selling export products are:
- electric vehicles designed for the elderly and the disabled
- diabetes test strips
- plastic supplies used in labs and operating rooms.
Blood glucose meters came in at No. 6, an indication of the great importance that seniors place on preventing diabetes and cardiovascular diseases, the most common chronic illnesses to strike the old.
Massage products, used to ease pain in different parts of the body, were the ninth most popular export item.
More details are available in the original article in Taiwan Today.