9 March 2023
Under the Radar: Homage on the fragmentation in the elder care market; Size of elder care market to rocket up to USD 1,268.43b by 2029; Trends in elder care market; Partnerships with AIC and DBS; Further possible funding rounds and IPO
Today we’re going to take a look at something that is close to our heart - ageing and eldercare.
According to a UN report, there were 703 million persons aged 65 years or over in the world in 2019, and that number is projected to double to 1.5 billion in 2050.
And as the world population ages, one of the most urgent needs for families is caregiving , with demand outstripping the pool of qualified operators.
What that means is that those in their thirties and forties - also known as the “sandwich generation” - end up shouldering most of the burden.
But what that also presents is an opportunity for tech startups and investors in almost every market in the world. Question is how are businesses bridging that gap?
Homage is a platform that pairs caregivers with family. The platform focuses on on-demand holistic home and community-based caregiving to seniors and adults for illnesses such as Dementia and Stroke.
On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Azusa Hanai, Chief Product Officer, Homage for more.

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