The term ‘Longevity Market’ is often tossed around in the media, workplace and
scientific publications. Yet despite its commonality, the true meaning of the term differs based
on the perspective of the person using it. Broadly speaking, the Longevity Market is designed to
push society towards adopting values and methods that will support an aging population. To
understand all that the Longevity Market encompasses, though, we have to look at the
generation propelling it.
For most of us serving the senior market, we know the Baby Boomer generation is changing and
shaping the way we do business. The Boom produced over 77 million babies. These babies are
now retiring, at a rate of 10,000 per day, with most starting in 2012. This retirement period is
shaping the longevity market as science, medicine, nutrition and basic lifestyle are attributing
to much longer retirement periods compared to previous generations. After retiring at the age
of 65, Baby Boomers are now expected to live at least 10-25 more years than their parents did.
With priorities like travel, learning new hobbies, encore careers, volunteering and spending
quality time with friends and family, Boomers aren’t expecting to hang up their briefcases and
sail off on a cruise.
Boomers are demanding flex schedules from the workplace, high quality of life from long-term
care communities, personalized experiences from the travel and hospitality industry, products
to halt the aging process from the medical community, and the opportunity to fund an active
lifestyle from legal and financial entities. They are demanding an entire market cater to their
aging wants and needs. Ergo, the Longevity Market.
With the many sectors of the longevity market ranging from healthcare and life science to
housing, finance, travel and public policy, most of us have a hand in this market. And with the
increase in demand over the next couple decades, the ability to accommodate the increasing
demand requires collaboration and sharing of resources amongst professionals and
organizations serving this demographic. Together, we can make rapid and innovative change
meaningful for whom those we serve.
To hear a more in-depth discussion on, “What is the Longevity Market?” tune into the Senior
Summit Podcast on all major podcast platforms. We’d love to hear your thoughts as to what
‘Longevity Market’ means to you, your work, your perspective on the future and how you plan
to meet the needs of this changing industry!
The Senior Summit Podcast Links:
Radio Public: https://radiopublic.com/senior-summit-podcast-8XPgr5
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