Longevity, as simple as it may sound, is one of the most complex industries spanning across science, technology, finance and even politics. It is also one of the most impactful industries commonly described as “the most ethical form of business with the potential for the greatest positive impact for humanity.”
Below is a sweeping overview of the longevity industry. It is an incredibly exciting space for business creation and investment. The scientific and technology developments around the prediction of age-related diseases make this an indisputable market opportunity. And as author Andrew Steele points out, longevity is a matter of investment. The more that is invested, the faster scientific progress can be made.
Ageing and Longevity
We may all be familiar with the desire to slow ageing down and maybe even dream of stopping it. This is not necessarily because we may want to stay young but more to do with the impact it has on quality of life.
We are all born with the inevitability of ageing. It is a biological process that starts from around the age of 25. In addition to the visible signs of ageing, our bodies become increasingly vulnerable to developing age-related diseases such as cardiovascular diseases, diabetes, cancer, neurodegenerative disorders, and osteoarthritis, being the most common.
Longevity pertains to the elimination, either from prevention or treatment, of the diseases that impact ageing. In other words, if we can understand the mechanisms of ageing that lead to age-related chronic diseases, it may be possible to prevent and even reverse these diseases (the geroscience hypothesis). However, longevity is much more than biology and medicine. Longevity is about how we live, our physical, mental and even financial well-being, elements that have shaped the industry’s landscape.
The Industry Landscape
The longevity industry can be described first and foremost as the business of targeting ageing at the cellular and molecular level (i.e. research and development, science and medicine). It is also the business of tracking and reporting age and health data (i.e. health-related products and services). And finally, it is the business of managing a global retirement market (i.e. financial-related products and services). In the industry, these ‘businesses’ are commonly categorised into four (4) sectors: geroscience, biomedicine, AgeTech and finance.
1) Geroscience focuses on understanding the mechanics of biological ageing (the science of ageing) to identify the means of slowing the process from where it starts. This sector looks at treating the root causes of ageing, often combining biotech and biomedicine. It is also the earliest stage of the industry and looks at ageing in a biomedical engineering approach.
2) Biomedicine is identified as P4 medicine: Personalised, Precision, Preventive and Participatory. This sector has driven two important shifts in medicine. The first shift going from generalised (large scale) to personalised treatment, and the second from treatment to prevention.
3) AgeTech encompasses non-medical digital, IT and technology products and services focusing on the improvement and maintenance of quality of life including mental well-being, functionality (i.e. neuroplasticity preservation) and even social activity.
4) And finally, the financial sector. This sector participates in the longevity industry from different angles. There is the development of technologies (i.e. WealthTech) to support and manage the economic impact of the rising global retirement market (Silver Tsunami). Additionally, there is the involvement of financial institutions investing in the longevity industry especially when supporting the entry of new markets (i.e. AgeTech).
Where to look
Whether you are a startup or an investor, the complexity of the longevity industry can make it difficult to understand the industry’s movements and what to pay attention to. But look a little closer and there are a few indicators that can prove helpful.
For example, owing to the capacity to create market-ready products and services for the B2C and B2B markets, the P4 sector is regarded as the largest in terms of funds and number of companies, representing about 50% of the market. When it comes to the largest growth in the short term, these opportunities fall commonly within AgeTech.
At a more specialised level, the largest investments are being allocated to cellular (rejuvenation) reprogramming; longevity discovery platforms; regeneration; longevity drugs, neuropharma, genetics, diagnostics, and immunity; rejuvenation; and longevity platforms.