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The global smart elderly care equipment industry exceeded 100 billion US dollars in scale in 2024, with an extremely fast growth rate!

Market Research Offi • • News
With the development of the global economy, people’s lives have become increasingly prosperous. Aging has become a serious issue in some countries, making smart elderly care equipment a top demand—especially in nations with severe aging, where the need for such equipment is even higher!
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In 2024, the top 10 countries or regions with the highest proportion of population aged 65 and above all had an aging rate exceeding 20%. According to UN projections, the aging level will rise further by 2050, with Hong Kong, China expected to see its aging rate surpass 40%! The global market size of smart elderly care equipment is also anticipated to hit a new high.
Data shows that the global market for elderly care assistive devices reached 7.058 trillion US dollars in 2020. With a compound annual growth rate (CAGR) of 5.3% over the next five years, the market size expanded to 8.241 trillion US dollars in 2023. It is projected to reach 11.977 trillion US dollars by 2029!
Clearly, the continuous global aging trend has accelerated the demand for smart elderly care equipment. From hundreds of billions to trillions of US dollars, the industry’s rapid growth indicates broad market prospects!

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