Across most of the developed world, rapidly aging populations are an issue that governments have to deal with. Globally, the population aged 65 and over is growing faster than all other age groups. According to UN research, by 2050, one in six people in the world will be over age 65 (16 percent), up from one in 11 in 2019 (9 percent).
In Malaysia, 15 percent of the population will reach 60 or older by 2030, reaching an aging nation status in 10 years. It is also reported that almost one-sixth of the senior population requires feeding, toilet, and shower assistance. This rise will impact areas such as healthcare, financial services, city planning, and social services.
Despite these problems, this presents a business opportunity. With the correct care, senior citizens can still be productive members of society well into their advanced years. Furthermore, their wisdom and knowledge will serve younger generations well.
Targeting potential markets, Taiwan Excellence has successfully provided its international audiences a look at the innovative aging medical equipment during the “Aging Wisely with Trust Healthcare” online product launch on Wednesday, September 16.
Mr. Walter Yeh, President & CEO of the Taiwan External Trade Development Council (TAITRA), Taiwan’s foremost trade promotion organization, stated that since 2014, Taiwan is second on the list of countries with the largest export of assistive devices. The output value of Taiwan’s assistive devices has reached US$930 million. Of the various assistive devices, mobility aids have the largest output value, reaching US$354 million and accounting for 38 percent of the total export value in 2019.
This event focused on four winners of the prestigious Taiwan Excellence Award winners, including: Gigantex’s MF012 Carbon Fiber Wheelchair, which utilizes one-piece construction to create super-light wheelchair; iXensor’s PixoTest® POCT System, which is the world’s first mobile medical solutions that can measure cholesterol, glycosylated hemoglobin, and blood lipids; Leadtek’s Wireless Fingertip Oximeter, which is an all-in-one device that measures oxygen saturation and pulse rate that allows users to do a preliminary test at home to detect COVID 19; Merits’ P113 YOYO Compact Folding Power Wheelchair, which is not only lightweight and foldable, it is also equipped with a detachable battery box.
All these innovative and reliable products provide users with better care and enables long-term care facilities to save time, costs and improve their services. As the number of elderly people grows, Taiwanese companies are confident that they can provide the best products for global users.
Taiwan Excellence award-winning products showcase the best of Taiwan’s industries, which provide smart solutions for our daily lives. The one-and-half-hour online product launch was part of a series of events held by TAITRA while more events focusing on medical products and technologies will be held in the coming weeks.
To watch the full online product launch, click this link.