The measures clearly state that efforts should be made to incorporate elderly-friendly renovations into hospital ward upgrades. It supports the transformation of some secondary and lower-level healthcare institutions in areas rich with medical resources into rehabilitation hospitals or nursing homes. It also encourages county (district)-level healthcare institutions, especially those with unsaturated service capacity, to extend their services into the integrated medical and elderly care sector.

In addition, strengthen the innovation, research and development, and application of technology and smart devices suitable for the elderly, such as home health monitoring, smart wearable devices, and barrier-free technology products. In response to the needs of the elderly for chronic disease prevention and treatment, as well as health maintenance, provide artificial intelligence support for health management, health monitoring, and health care for the elderly.

(Illustration: Cybeline Instruments)

The transformation of hospitals is expected to bring about some demand for equipment procurement. According to the "Basic Standards for Rehabilitation Hospitals," a secondary rehabilitation hospital must set up at least three departments from the following: Orthopedic Rehabilitation, Neurological Rehabilitation, Pediatric Rehabilitation, Geriatric Rehabilitation, Auditory and Visual Rehabilitation, and Pain Rehabilitation, as well as Internal Medicine, Surgery, and Intensive Care Unit, and must be equipped with basic equipment, specialized equipment, and information technology equipment, among others.

(Extract from the Basic Standards of Rehabilitation Hospitals (2012 Edition))

At the same time, the promotion of integrated medical and elderly care will also fill the demand for health and养老.

On the industrial side, the "Measures" also propose to cultivate and develop a number of large-scale, branded enterprises in the silver-haired industry. Support localities with favorable conditions to create silver-haired economic industrial parks that integrate local特色 industries. Strengthen the research and development of rehabilitation assistive products, promote the iterative upgrading of traditional rehabilitation assistive products, and expand the supply of high-quality products.

02‍

The silver-haired health trend has arrived.

The "window period" for the silver-haired health industry has arrived.

The General Office of the Central Committee of the Communist Party of China and the General Office of the State Council recently issued the "Special Action Plan to Boost Consumption," which clearly states that the central budget investment will provide increased support for project construction in areas such as education, healthcare, skills training, elderly care, childcare, and cultural tourism and sports.

At the China Development高层论坛2025 Annual Meeting held from March 23 to 24, Tang Chengpei, Vice Minister of Civil Affairs, pointed out that China's silver economy has enormous potential for development, and efforts should be accelerated to improve and expand the silver economy to help achieve a virtuous cycle between economic development and improving people's livelihoods. The next 10 years or so, up to 2035, is an important "window period" for China to proactively address population aging.

He pointed out that efforts will continue to improve the policy mechanisms for elderly care and the elderly care industry, promote the integrated development of the elderly care industry with related industries and sectors such as culture, tourism, health, sports, and housekeeping, enrich and expand the consumption fields and scenarios of elderly care services, and release the consumption potential for elderly care; continue to advance home modifications for the elderly, properly carry out the replacement of old consumer goods with new ones for home modifications, increase support for elderly meal services, and the purchase and rental of rehabilitation aids, and expand inclusive elderly care services.

The upstream of the silver-haired health and elderly care-related industry includes pharmaceuticals and health supplements, as well as medical devices. The midstream consists of the health and elderly care service market, while the downstream includes basic social insurance and basic medical insurance financial products.

Currently, there are three main business models in the domestic health and wellness industry. First, real estate developers and insurance companies are investing in and operating elderly care communities. Second, medical institutions and pharmaceutical companies related to the health and wellness industry are extending into the downstream elderly care field. Third, social capital is participating in the health and wellness service industry.

Enterprises that have made early arrangements have clearly sensed the rising heat of the health and wellness industry.

On March 12, Ping An Health announced its 2024 financial results, with an adjusted net profit of 158 million yuan, achieving a turnaround from losses to profits. Last year, Ping An Health expanded its multi-modal elderly care service system encompassing "home-based elderly care, travel-based elderly care, and institutional elderly care," which proved quite effective. Among these, the revenue from home-based elderly care services saw a year-on-year increase of 413.5%.

The market for medical devices such as respiratory therapy equipment, rehabilitation aids, home health monitoring, and smart wearable devices is expected to continue thriving. Especially in the context of home-based elderly care, industries directly targeting the home health and elderly care consumer market, including pharmaceuticals, health supplements, and medical devices, will also experience robust growth.

It is worth noting that in the era of the Internet, e-commerce channels have greater opportunities for selling medical products. During last year's Double Eleven period, JD Health saw comprehensive growth across various categories, including medical drugs, nutritional supplements, and medical devices. Products aimed at elderly consumers saw a 140% increase in transaction volume year-over-year; there was a significant rise in demand for health products such as medicines for lowering blood pressure, blood sugar, and cholesterol, electric wheelchairs, and fish oil. Additionally, assistive devices like mobility aids, commodes, hearing aids, and atrial fibrillation blood pressure monitors experienced a 100% increase in transaction volume, bringing more convenience to the lives of the elderly.

According to the "Silver Economy十大机遇" report published by the EU in 2019, the total annual consumption of Europeans aged 65 and over exceeds 3 trillion euros. By 2025, the scale of the EU silver economy will reach 5.7 trillion euros, with the total contribution to the overall economy expected to reach 6.4 trillion euros, accounting for 32% of the EU's GDP. (Note: It seems there is a part missing in the original text, specifically "The Silver Economy十大机遇" which appears to be an incomplete phrase or title. I have translated it as it appeared, but it might need adjustment based on the full context.)

In comparison, the current scale of China's silver economy is around 7 trillion yuan, accounting for approximately 6% of GDP. According to iResearch's "China's Health and Elderly Care Consumption Report for the Silver-haired Population," with the support of macro policies, it is estimated that by 2035, the scale of China's silver economy is expected to reach around 30 trillion yuan, showing tremendous potential.

From the demand side, with the increase in the elderly population and the improvement in living standards and health awareness among residents, the health needs of China's silver-haired demographic will rise to a new level, leading to a major boom in related industries.