When 87-year-old Singaporean Mohamad Bin Anang developed bed sores after becoming bedridden earlier this year, his children decided to call in a trained caregiver. They enlisted home nursing home nursing Home Nursing services include nursing care, vital signs monitoring, medication management. services from Active Global Home & Community Care, a provider of homecare and day care services in Singapore.
“The nurse also guided [our existing] domestic helper on how to provide care for my father,” Anang’s daughter Nora Mohamad says, adding that they require the service only monthly now.
Anang has Parkinson’s disease, but sending him to a nursing home was not an option. “Given Covid-19, we preferred homecare homecare Home-based services are provided within the homes of frail and home-bound elderly who find it difficult to access services in the community. services. My mother, at 70+, would not be able to visit him if he is at a nursing home. At home, my father can be surrounded by family,” says the accounting professional. Besides, some of the costs of homecare were offset by the country’s Pioneer Generation Disability Assistance Scheme Scheme A scheme for Singapore’s ‘Pioneer’ generation. It includes monthly allowance of S$100. , she adds.
Singapore needs these schemes; now more than ever. The country is ageing fast. So fast that as per the United Nations’ 2019 projections projections United Nations World Population Aging 2019 Read more , it’s among the most rapidly ageing countries in the world. While those aged 65+ currently make over 16% of the population, by 2030, this number is expected expected National Population and Talent Division Population Trends: Overview Read more to shoot up to almost 24%, as per the government.
But where there is an ageing population, there’s also a growing market to serve it.
In Singapore’s case, it’s a massive market. Janice Chia, founder and managing director of business consultancy Ageing Asia, projects Singapore’s ageing market to reach US$72.4 billion by 2025.
“Ageing is the new black,” says Chia, adding that the two major market segments to capture are “the rising middle to higher income baby boomers and the high-net-worth baby boomers.” And the pandemic hasn’t dented the business opportunity in this segment. Au contraire.
When Covid-19 hit, Singapore swung into action action Ministry of Health Support Measures for Seniors During Covid-19 Read more and was able to stave stave World Health Organization Singapore Read more off the onslaught.