DALLAS: The aged care market will not only require service providers who can run short-term and long-term skilled nursing homes, but also offer integrated opportunities for medical technologists, ICT companies, robotics companies, senior care furniture manufacturers, nutraceuticals and pharmaceutical manufacturers, and other support service providers.
These were among the findings of a new study from research firm Frost & Sullivan. The study, “Major Trends and Attractions in the Global Aged Care Market,” claimed that while the public sector, non-governmental organisations and not-for-profit companies currently fund and drive the market, running skilled nursing homes for profit is gaining credibility as a business model.
“Among developed markets, a two-tiered system in residential aged care is fast emerging and will have significant consequences for consumer choice,” said Frost & Sullivan Healthcare Industry Manager Dr. Siddharth Dutta. “Although the majority of skilled nursing homes are for profit, government-supported or not-for-profit homes have a considerable presence in the outskirts of big cities.”
The governments in developed countries have either implemented encouraging policies for foreign and domestic players or are modifying existing laws to promote private investments. These governments have realised that unless they take these measures, the burden of aged care will fall squarely on them…