Japanese Elderly Market and Business Opportunities for Thailand

Abstract

   As we enter the century of aging societies, the global economy is increasingly reliant on elderly consumers, a demographic referred to as the "silver economy." This shift presents significant business opportunities to meet the growing needs of the elderly population. Japan, with the highest proportion of elderly individuals in the world, represents a rapidly expanding market. Products and services for the elderly in Japan can be categorized into three main areas: 1. daily living needs, which include goods and services related to food, clothing, furniture, household appliances, travel, communication, knowledge, and recreation; 2. medical and pharmaceutical products and services, encompassing medical care, pharmaceuticals, medical supplies, and nursing services; and 3. elderly care services, including home care, day care centers, and elderly care facilities. These three key sectors offer a wide range of specialized business opportunities. In addition to generating income, they also serve as a framework for preparing Thailand to enter a super-aged society.