The global elder care industry is experiencing significant cross-industry mergers and consolidations, particularly within the long-term care sectors of the US, China, and Japan. Taiwan is poised to follow suit, with analysts predicting a wave of consolidation over the next five years. These mergers are driving new industry developments and market demands, expanding elder care services across more countries in Asia.
Elder care companies in Taiwan, including nursing facilities, service providers, independent senior housing, and sales channels, are adopting multifaceted business models and services to meet the demands of the elder care market and the growing silver economy.
Future drugstores will become the largest retail channels in health care
A notable example of industry development in Taiwan is the transformation of the drugstore sector. Facing intense market competition, the number of drugstores in Taiwan has grown to 10,782 in 2023, nearly matching the total number of 7-Eleven and FamilyMart, two major convenience stores in Taiwan. This growth highlights drugstores as a pervasive and essential retail channel. Future drugstores will become the largest retail channels in health care. They are set to evolve, offering not just medicines and pharmaceutical services, but also independent and assisted living aids, as well as consulting services. These drugstores will become essential community care hubs and health and wellness centers.
A prime opportunity for technology companies
Now is the perfect time for technology companies to enter the Taiwanese market and, subsequently, the rest of Asia. Cares Expo Taipei, held from September 12-14, provides a unique platform to spotlight the evolving role of the elder care industry. The expo features five key exhibitions: Long-term Care, CareTech, Health & Wellness, Homecare, and Drugstore. These exhibitions offer companies the opportunity to display their solutions, network with industry professionals, and facilitate business growth.
Join us at Cares Expo Taipei to explore and invest in the booming Asian elder care market, where innovation meets opportunity, and the future of elder care is being shaped.
Mark your calendar for September 13th, 2024, and join us at the Taipei Nangang Exhibition Center for a day of insightful presentations and networking opportunities. Secure your spot today and be at the forefront of the Asia Pacific care industry! Register here to visit or contact Juihui Lin via lin@ankemedia.com, phone +886 2-77296189 ext.110 for more info.
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