Geriatric Medicine Boom: Asia's Stunning Growth and Opportunities

As someone who’s watched their grandparents grow older and face new health challenges, I often wonder—are we doing enough for our aging loved ones? Across Asia, this question is becoming more important than ever. With people living longer, geriatric medicine in Asia is growing rapidly, offering both hope and new opportunities in healthcare.

Why Geriatric Medicine Matters Now

Asia is home to more than 60 percent of the world’s elderly population, and this number is only going to rise. The United Nations projects that by 2050, over 1.3 billion people in Asia will be aged 60 or older, nearly double the 2022 number.

This shift makes Asia's geriatric healthcare one of the most urgent priorities of our time. Countries like Japan, South Korea, China, and India are seeing a surge in aging citizens, many of whom are managing long-term conditions. Specialized care and medical services for seniors are no longer a luxury; they’re essential.

Aiko Kikkawa, Senior Economist at the Asian Development Bank, recently remarked that this change could even bring economic benefits through a “silver dividend,” if the elderly remain healthy and independent.

“There is an ever‑pressing need for a robust healthcare system to cope with the changing needs of patients.”- Dr. Loke Wai Chiong, Deloitte Southeast Asia.

Market Growth & Forecasts: A Booming Sector

The numbers behind this surge are remarkable. The Asia Pacific geriatric medicine market growth rate is projected at 6.5 percent CAGR over the next 5 years. The market was valued at around USD 83 billion in 2023 and is expected to cross USD 130 billion by 2030. This growth is powered by rising healthcare spending, lifestyle diseases, and technological integration.

Analysts forecast strong momentum for the Asia Pacific geriatric medicine market, driven especially by countries with aging populations like Japan and China. China alone will have over 400 million people aged 60+ by 2040.

Meanwhile, the geriatric pharmaceuticals Asia CAGR is expected to hover around 7 percent, with companies focusing on age-specific therapies such as anti-inflammatory drugs, heart medications, and cognitive enhancers.

This increasing projected demand for geriatric medicines in Asia opens a vast range of opportunities in the geriatric care industry in Asia, from pharmaceuticals and assistive devices to elder-focused insurance and smart homes.

RGA’s recent report on aging in Asia noted: “With over 1.2 billion Asians projected to be aged 65 or older by 2060, this represents a substantial growth opportunity for insurers.”

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