Silver Economy Market Has the Potential to Generate USD 25.5 Billion
MALAYSIA'S POTENTIAL IN THE SILVER ECONOMY
The care economy, or silver economy, is rapidly growing in Southeast Asia, with Malaysia projected to tap into a market worth approximately USD 25.5 billion.
Deputy Minister of Economy, Datuk Hanifah Hajar Taib, emphasized that Malaysia should view the aging population as an economic opportunity by leveraging new economic sectors like the care economy to enhance societal well-being and productivity.
“The global market potential driven by the aging population trend is estimated to reach USD 4.56 trillion by 2025,” she stated during the opening of Seterra Dialogue 2024 (SeDIA24) – National Care Conference 2024 at M Resort & Hotel Kuala Lumpur on Thursday.
OPPORTUNITIES ACCROSS INDUSTRIES
Datuk Hanifah Hajar highlighted the vast opportunities for various industries in Malaysia, including health tourism, long-term care services, medical equipment supplies, and medical technologies powered by artificial intelligence (AI) and robotics.
She urged private companies to actively participate in developing products and solutions tailored to senior citizens and the care economy sector.
ABOUT THE CONFERENCE
The conference, organized by Bina Darulaman Berhad in collaboration with Seterra Group of Companies and MY Iskandar Sdn Bhd, featured two main forums:
Integrating the Care Economy into National Development
