PUBLISHED: 17 Aug 2024 at 04: 00
According to the Trade Policy and Strategy Office ( TPSO ), the country’s ageing population is promoting the growth of the elderly care sector.
Thailand is now an aged community, according to director-general Poonpong Naiyanapakorn, who notes that the delivery rate is declining while the number of older people continues to rise.
According to United Nations ( UN) data, 13.06 million people in Thailand were aged over 60 last year, accounting for 20 % of the total population. This was an increase of 4.3 % over the past year.
Over the past ten years, the number of older people has increased by an average of 4.8 % per four times. The rise in the age of the general population has been linked to a number of components, including the rise in the number of singles, a reduction in the beginning frequency, and increased longevity as a result of advances in medicine and technology.
Mr. Poonpong claimed that the current circumstance is opening up new opportunities for different businesses, such as care homes.
According to an analysis by Zion Market Research, the world old treatment market’s value is projected to increase from US$ 1.02 trillion last year to$ 1.96 trillion by 2032.
The Asia-Pacific industry will have the biggest growth due to its growing people, advanced technologies and reputation as a retirement destination.
There were 708 nursing homes in 55 regions last year, with the number growing by 25.1 % annually on regular since 2018 according to Mr. Poonpong, adding that 887 legal institutions are operating elder care businesses in Thailand.
The Bangkok Metropolitan Region ( BMR ) offers entrepreneurs a great opportunity to enter those other markets because the majority of nursing homes are there, he said.