What it means to age is being redefined. Breakthroughs in medicine, technology, and preventive care are enabling people to not only live longer, but to lead healthier lives. Global life expectancy is 73 years of age, up from 45 in 1950. But longevity is not just about adding years to life, it is about ensuring those years are vibrant and meaningful. This shift is forcing governments, industries, and people to rethink how we work, live, and thrive in a world where aging is no longer a limitation but an opportunity.
Our recent report, “The Longevity Story: Opportunities And Considerations,” in collaboration with the World Governments Summit, highlights how an aging population will reshape society — and the exciting opportunities it presents.
How the aging population is expected to boost the longevity industry
The longevity industry has emerged in response to the growing demand for solutions to age-related challenges, spanning sectors such as biotechnology, pharmaceuticals, healthcare, and technology aimed at older adults, sometimes called age-tech. Collectively, these sectors are advancing innovations that extend lifespan and improve life quality as people age.
The industry was valued at $25 billion in 2020 and is projected to surpass $600 billion by 2025. Innovations driving this growth include traditional treatments and lifestyle interventions to prevent premature death, advanced medications and early detection technologies that push lifespan boundaries, and cutting-edge research into cellular rejuvenation and gene therapy. These advancements are laying the foundation for revolutionary changes in how we view and experience aging.
Several companies are investing in research aimed at trying to reverse aging. Simultaneously, tools powered by artificial intelligence (AI) are identifying biomarkers of aging and facilitating the discovery of new drugs targeting age-related conditions. These breakthroughs hold the potential to extend human longevity and fundamentally reshape economies and governments worldwide.
Societies and governments face three challenges of longer lifespan
As people live longer, societies must adapt to address the challenges and opportunities of aging populations. From healthcare to urban planning, governments and organizations are rethinking how to meet the evolving needs of older citizens.
Preventive care is the key to strengthening healthcare systems
Healthcare systems face increasing pressure to transition from reactive treatments to preventative care. Doing so reduces costs, and helps people better maintain overall health. Countries like South Korea and Singapore are leading the charge by implementing programs that focus on geriatrics, community-based care, and health screenings. Singapore’s initiatives, for example, enable seniors to age in place, reducing the strain on hospitals while improving quality of life.
Workforce policies need to adapt to aging workers
With people living and working longer, labor markets must accommodate older employees. Reskilling and upskilling initiatives are critical to preparing aging workforces for technology-driven economies. Japan, for instance, has allocated ¥1 trillion to human capital development, emphasizing lifelong learning for older workers. These policies help extend productivity while ensuring aging populations remain active economic contributors.
Cities of the future will be designed for aging populations
Communities must rethink urban planning to support older residents. This includes creating age-friendly spaces, enhancing accessibility, and developing multipurpose community hubs. Singapore plans to nearly double its eldercare centers by 2025, while Japan is redesigning public spaces to serve as disaster response hubs and multigenerational meeting places. These infrastructure changes ensure cities remain inclusive and functional as populations grow older.
The role of technology innovation in the longevity industry
Technological innovation is a cornerstone of the longevity industry. Wearable devices, such as smartwatch-based health apps, enable real-time tracking of vital health metrics like heart rate and blood pressure. These tools help identify potential issues early and can hasten interventions if integrated with the broader healthcare system. That, in turn, can improve outcomes for individuals and ease the burden on healthcare systems.
Epigenetics, another promising area, uses genetic data to identify biological aging markers, allowing for precise diagnostics and targeted interventions. This technology is already being explored for therapies aimed at reversing aging at the cellular level, offering hope for revolutionary medical breakthroughs.
How the longevity revolution creates economic opportunities
The longevity revolution is more than a healthcare story; it is also a major economic opportunity. With global spending on aging-related solutions expected to reach billions annually, governments that invest in enabling the longevity industry benefit from job creation and increased economic activity.
The United Kingdom serves as a model of how strategic policymaking can turn demographic challenges into economic strengths. By focusing on an aging society as part of its industrial strategy, the UK has fostered public-private partnerships, launched funding programs, and set ambitious goals to improve health-adjusted life expectancy.
Other notable examples are Japan, which is focusing on reskilling initiatives to address the challenges posed by its aging workforce, and Singapore, focusing on strategies that allow companies to retain older workers. These actions demonstrate how forward-thinking approaches can transform aging populations into a source of economic vitality.
Proactive strategies are essential to prepare societies for this unprecedented shift. Governments must invest in healthcare innovation, adapt workforce policies, and create supportive infrastructure to seize the opportunities presented by longer lifespans. Collaboration between public and private sectors, support for groundbreaking research, and a commitment to addressing the needs of aging populations will ensure that the benefits of longevity are equitably shared.
The time to act is now. The choices we make today will shape the future of aging for generations to come, unlocking both economic and social potential in a world where people live longer, healthier lives.
Written in collaboration with the World Governments Summit.
