Summary of Research Findings

The research focused on the markets targeting the senior generations or on the enterprises proactively striving to attract the seniors, and found out the extensive market trends and the attempts for market entry. It covers not only the traditional senior-related markets such as long-term care, rehabilitations, and homes for the elderly, but also new categories such as leisure, sports, hobbies, and learning lessons, together with the trends at retail and distribution businesses. In the last several years, there was no epoch-making service or mega-hit product for seniors, and the market generally had no ups and downs; still, as elderly population continues to grow, the market is expanding. 
Viewing at 2019 market by category, senior-care (long-term care) and rehabilitation market, housing/residence market, and food/dining out market have shown growth. Although senior-care and rehabilitation market was sluggish for a while, revision of the compensation paid to caregivers turned the market for the better since 2018. However, the survival of the fittest is seen as market players withdrew, close down, or went for M&A because of intensified competition with large companies, labor shortage, and lack of know-how.
In the home delivery market, although its market share is low, delivery services by restaurant chains is soaring as food ordering and delivery services like “Demae-kan” and “Uber Eats” gain popularity and consumption tax remains unchanged at 8 percent for take outs. 
Foods for seniors are growing significantly in the food/dining out market, particularly the foods rich in energy and protein to treat undernutrition in the sprightly seniors.
In addition, as the number of sprightly senior citizens increase, not only the travel market and entertainment market but also markets that attract young generations, such as fitness, mountain climbing and music, are also on the rise. Every enterprise that makes market entry perceives the senior generation as their key target customer for weekdays and low seasons, hence focuses on various customer retention strategies to encourage customer loyalty, while aiming at acquiring the young generations as new fans.
Meanwhile, linked to broader adoption of smartphones, the market of mobile phones/smartphones for seniors grew significantly.
On the other hand, the markets of those regarded as the conventionally popular among the seniors such as hobbies/learning lessons, bowling, and table tennis have failed to reach the previous year results. Nonetheless, as the learning lessons and sports are still attracting the seniors, the market expects a recovery by reacquisition of seniors that once engaged in those hobbies and sports.  
Since quite a few markets were heavily impacted by self-lockdowns and economic doldrums in 2020 due to COVID-19 calamity, shrinkage of the market size is inevitable. However, as Japan is aging faster, as a whole, the senior-related markets expect continuous growth.

 

Noteworthy Topics

Adaptation to New Normal Accelerated as COVID-19 Crisis Hits Senior-Related Market

As 2020 saw spread of COVID-19 infections, the senior related markets were deeply impacted. Since older adults are more vulnerable to severe illness from COVID-19, the elderly generation had become more cautious about going out, compared to other generations. Consequently, users diminished drastically at long-term care and rehabilitation facilities. Due to such changes in business environment, each long-term care and rehabilitation facilities newly deployed contactless services. One of the examples is the remote monitoring service for those facilities using digital technologies like IoT and AI (Artificial Intelligence); Panasonic and Hitachi Systems have launched new services. Furthermore, while residents of the COVID-19 affected prefectures are requested not to cross prefectural borders, installation of remote monitoring service for older single-person households is underway. 
In addition, as avoidance of “Three Cs” (closed spaces with poor ventilation, crowds, and close-contact settings) is required, traditional style of long-term care and rehabilitations that involve staffs assisting elderly people in close contact became increasingly difficult. To solve this issue, the rehabilitation service using robots and online conferencing systems are offered to the seniors unable to visit nursing home/rehabilitation facilities. An aim of the service is to have seniors perform effective rehabilitation at home. At some nursing facilities, they have begun introducing gait training programs using exoskeletons as their rehabilitation menu. 
Online services have also been deployed in leisure related services. In travel market, various business operators, including leading travel agencies, local bus companies and entertainment agencies, have introduced virtual tours. Moreover, virtual tours for a person designated as needing nursing care, a person that has been said to have difficulty travelling, have also been developed. Such tours include online travel service using VR (virtual reality) for elderly and dementia patients, and virtual bus tour guided by a sign language interpreter for a person with hearing impairment. Both services are well received as they make participants feel like travelling in the comfort of nursing facilities via large screens. 
In the gaming market, there is a trend of familiarizing eSports as a new leisure for the senior generations. By introducing eSports provision within nursing homes, seniors can play games against seniors in other nursing facilities, or watch games played by family members in remote areas. It creates a new contactless communication opportunity to connect elderly people with others.  
Further, in the market of marriage matching services for the seniors, contactless services such as marriage consultancy and matchmaking using web conferencing systems have been introduced. Various attempts to adapt to new normal are in progress in the senior-related markets as well. 

 

Research Outline