SINGAPORE: With more and more seniors and a declining birth rate, Singapore is set to transition into a super-ageing society within the next three years, a condition defined by the World Health Organization when more than 20% of the population is 65 or above. Currently, Singapore is already considered an ageing society, with 19.1% of its population falling into this age group.
As people live longer, the birthrate has been steadily decreasing year by year. While this trend is not unique to Singapore and affects many countries and regions globally, the demographic shifts here have particular implications given Singapore’s small size.While Singapore boasts one of the longest life expectancies in the ASEAN region, with an average of about 83 years, concerns have been raised about the quality of life for its ageing population.
Associate Professor Kalyani from the Department of Gerontology at Singapore University of Social Sciences told Channel 8 news: “You can imagine that caregivers also face a lot of difficulties when caring for their elderly relatives, especially when the elderly are immobilized.” Meanwhile, as Singapore’s median population age continues to rise, it presents opportunities for businesses catering to the elderly. Healthcare startups utilizing artificial intelligence for elderly patient care and platforms curating lifestyle goods for seniors are flourishing.