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SGPC organizes BCN project on smart services and manufacturing for elderly care

25 Oct 2023

The Singapore Productivity Centre (SGPC) and APO Secretariat jointly organized a face-to-face project on Smart Services and Manufacturing for the Elderly Care Industry from the ROC to Singapore, 31 July–3 August. The Bilateral Cooperation between NPOs (BCN) project, attended by four participants from the China Productivity Center (CPC), was designed to enhance the ROC’s capabilities in elderly care through the transfer of knowledge and technological expertise. With advances in medical technology, the healthcare delivery system, and increased life expectancy, the ROC’s elderly population continues to grow annually.

According to UN statistics, the global population aged 65 or older exceeds 800 million and is projected to reach 1.4 billion by 2030. WHO estimates that by 2025, 63% of the world’s population will be over 65, with some individuals living past the age of 100. The market capitalization of the elder-care sector could reach USD37.4 trillion, making it one of the most promising growth areas in the 21st century. The BCN project in Singapore addressed the challenges posed by this demographic shift and helped delegates understand innovative solutions in the field.

Knowledge sessions were conducted at the SGPC office, focusing on the landscape and trends of elderly care in Singapore, as well as technologies to support the sector. Online sessions were held in collaboration with the Agency for Integrated Care (Singapore), covering support programs for seniors, people with disabilities, and their caregivers. Participants also visited the Singapore National Employers’ Federation, Singapore Red Cross, Neeuro Pte. Ltd., Council for Third Age, Tsao Foundation, and GentleFoods® under The Gentle Group Pte. Ltd. During the visits, participants gained insights into the initiatives, products, and services offered by these organizations in the elder-care sector. Their interactions provided a comprehensive overview of innovative efforts underway within the industry.

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