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Recommendation 1.1A: Conduct Environment (Consumer Council, October 2018). The report 1
provides information on elderly’s daily life consumption habits and
an overall market study on Hong
advocates for consumer rights of the elderly. However, there is no
Supply-side
Kong’s gerontech industry specific information on elderly’s gerontech consumption habits.

Our survey revealed that there has been huge increase in Based on the EU case, we recommend the Hong Kong
general awareness of gerontech among the general public (Gap Government’s Census and Statistics Department to
1; score 1.08). However, one of the key challenges that remain is collaborate with relevant Government departments to
the lack of clear information on the overall gerontech market conduct a thematic survey on the gerontech market size and
situation or market needs. As a result, companies have a hard needs. To start with, the study should quantify the current size of
time assessing where there is the greatest market need and the gerontech market. For example, the study could include data
opportunity. Similarly, financiers—whether private foundations, on the health and social needs of elderly, PwDs, and caregivers
venture capitalists, or Government bodies—have a hard time to indicate where the greatest social need and potential market
assessing what the greatest opportunity for social or economic opportunity is. There could also be information on how much end-
benefit is. users are using gerontech, what kind of gerontech they find the
most useful or desire the most, and how willing they are to spend
The European Union (EU) has an initiative called Ambient money on it.
Assisted Living (AAL) Programme that offers different initiatives
relating to the theme of “ageing well in a digital world” (AAL About Furthermore, there could be information on the different
12
Us, 2021). One of the initiatives under the AAL Programme is behaviours and needs displayed by different institutional
the Market Observatory, which commissioned studies on the “ICT market players, such as residential versus community service
for ageing well” market. The studies provide a consolidated units, private versus NGO service units, and elderly versus
13
view of the existing market and investment information in Europe rehabilitation service units. Recorded data could include how
within the ICT for ageing well market. It also includes information digitised different service units are, whether they have used
on the current status, trends, and perspectives on future market the $1 billion I&T Fund, how comfortable staff are with learning
opportunities (AAL Market Observatory, 2021). and using gerontech, how willing they are to privately purchase
gerontech, etc. Collection and dissemination of this data would
In Hong Kong, there is no study on the gerontech market situation hopefully attract more private investment into the industry to
or market need. The closest source of information that we have is ensure the market’s long-term sustainability, as well as enable
a report published by the Consumer Council in 2018 entitled Risk further analysis that define and describe gerontech-related
or Opportunity: A Study on Building an Age-friendly Consumption behaviour and needs of different market segments.

12 The AAL Programme is funded by the European Commission and 19 member countries (European Innovation Partnership, 2021).
13
Two ICT for Ageing Well market reports were published, in 2014 and 2018 respectively.
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