Southeast Asia stands out for its young population, rising economic growth, and fast-paced digital adoption, making it a dynamic and rapidly evolving region.
Yes, Southeast Asia is young compared to other regions and countries, at the same time, owing to its large population, it also has a sizeable chunk of seniors.
The consumer internet ecosystem in the region serves various demographics—baby care, Gen Z, women, etc.—but lacks offerings for elder care. With a USD 250 Bn+ market opportunity by 2030, this space remains largely untapped, leaving room for new disruptors.
Startups offering affordable, scalable, high-quality services can secure a strong foothold in this white space.
Southeast Asia is young, but it also has a sizeable chunk of elderly population, which is up for grabs
Compared to various regions and countries across the globe, Southeast Asia has one of the youngest demographics, but at the same time, the region is home to ~50Mn + senior citizens (65 years+) as of 2025, with key markets being Thailand, Singapore, and Malaysia.
While in absolute terms, Indonesia has the largest elder/ senior population in the region, it is Thailand and Singapore that lead on a percentage of population basis.
Thailand and Singapore offer the biggest opportunities, driven by a combination of large elderly populations and/ or strong spending power
Thailand and Singapore present the largest dollar opportunity in the region, followed by Indonesia and Malaysia. While Indonesia has a much larger elderly population than Thailand and Singapore, there are major deviations in spending levels, with Thailand having 3x per capita spending compared to Indonesia. Vietnam and the Philippines, despite their older population size, lack sufficient per capita spending to be meaningful TAMs individually.
Eldercare is expanding beyond the West, with emerging players in Asia’s developing economies
Despite the perception that elder care services are more suited to the Western world, startups are emerging in India— a country with half the per capita income of Indonesia and significantly lower income than Thailand, Malaysia, or Singapore— yet with a culture like Southeast Asia.
Home care, out-of-hospital services, and elder care products are the most attractive business models in Southeast Asia
While living communities are usually the largest opportunity in the eldercare segment across the globe but in Asia it is not the case. Cultural aspects (filial piety), government steps – making sure youngsters live close to families in the case of SG and other factors in Asia, make out-of-hospital services, elderly products, and home care segments much more plausible and scalable opportunities.
Southeast Asia’s evolving demographics and adequate government support create immediate opportunities for eldercare startups
Governments across Singapore and Malaysia are actively backing eldercare solutions through policy initiatives, signaling immediate opportunities for startups in this space. AI-powered monitoring, caregiving platforms, and rehabilitation technologies are being integrated into eldercare, making digital health and automation a key investment area in the region.
