According to the World Economic Forum, the median age in #Japan has risen from 26 in 1952 to 46 in 2018. One can immediately see the shift in demographics.
Social security programs in Japan accounted for roughly 18.7% of the GDP and it is projected to go over 22% by 2050, according to S&P Global.
Assuming that the strains on the economic productivity and output may, to some extent, be alleviated by #automation and governmental policies such as higher retiring age, there will still be some negative effects on #healthcare. One can think of higher costs, longer working hours for #medical staff due to a possible increase in demand for medical services.
At some point in time, other countries will have to face these shifting demographics too and Japan intends to raise awareness about its effects at this year's #G20 summit.
Being the first country in the world to face a rapid ageing population and as a result, its subsequent medical hurdles, Japan is the best place to tackle this problem and our little #startup, #EpignoSystems, is at the forefront of it.
Check out what we are working on and our job openings.