The Rising Opportunities in Japan's Agetech Sector 

Nearly one-third of Japanese citizens are 65 years old or older, making Japan home to the world's oldest population. According to the International Trade Administration, the number of older adults is expected to reach 22 million, or one in four, by 2025. This rising elderly population raises various concerns, especially in the medical field. Despite these challenges, agetech innovations are enhancing the quality of life for senior citizens by providing technologies that help them live comfortably and manage their healthcare needs more effectively.

Japan's rising elderly population makes the country one of the most viable markets for innovations in the agetech sector. Agetech is a broad field encompassing a wide range of technologies designed to improve the lives of older adults and initiatives are being implemented to make patient data more accessible. The development and integration of agetech into facilities aims to reduce the burden on the institutional care system, caregivers, and family members.

Here are some promising agetech applications:

Tokyo-based Future Care Lab is developing different types of digital devices to meet the needs of the elderly and improve their quality of life. These include a Shower Bathing Device for Nursing Care, which helps caregivers provide fresh and safe bathing experiences for the elderly; and a Rise Assisting Robot that enables caregivers to transfer individuals easily and singlehandedly to and from a bed.

A Japanese start-up founded by engineer Masaki Takeuchi, Syrinx, offers wearable devices designed to restore people's voices. Syrinx’s wearable, hands-free electrolarynx features two vibrators that generate a broader range of frequencies and can be personalized for each user based on recordings of their own former voice. This technology is especially beneficial for the elderly, who often experience age-related voice changes or may suffer from laryngeal cancer, which can result in the complete removal of the voice box.

Another company in Tokyo, CREWT Medical Systems, has developed a portable and wearable visual testing device called “IMOvifa” for diagnosing glaucoma and other eye conditions. To perform the test, the patient has to wear IMOvifa on the head while keeping both eyes open. IMOvifa enables visual field tests to be carried out far more quickly and far more comfortably compared to the traditional, complicated apparatus that requires one eye to be closed in a darkened room. This innovation is beneficial for Japan's steadily increasing retirement-age population.

PARO, certified by Guinness World Records as the World's Most Therapeutic Robot, provides cognitive stimulation for individuals with Alzheimer's and dementia. Developed by AIST, a leading Japanese industrial automation pioneer, PARO features five types of sensors: tactile, light, auditory, temperature, and posture. It is designed to adapt to user preferences and respond to its given name. Since its inception in 2003, PARO has been deployed in care homes throughout Japan, reducing patient stress and improving relaxation and motivation. Additionally, it assists caregivers in their work, making it a valuable tool in elder care.

Agetech is a rapidly growing sub-sector of healthcare, projected to be worth JPY 30 billion in Japan by 2025. As highlighted, agetech is transforming healthcare using smart devices, wearables, and even robotics. Current efforts also focus on developing tools for family support, such as AI diagnosis and medication assistance, unique transportation solutions, and remote monitoring and recording. 

Although there may be a digital divide where some elderly individuals struggle to use digital tools, and personalized solutions are needed due to varying senior needs, the industry is still poised for significant growth. Japan's status as the world's second-largest healthcare market, combined with its large elderly population, creates excellent opportunities in the agetech sector.

However, before entering the market, companies need to gather relevant information on demographics, government initiatives, and regional needs. MEDICAL JAPAN TOKYO serves as the perfect venue to learn more about agetech and network with potential partners from among the thousands of attendees expected.