The Longevity Economy: How Aging America is Shaping Consumer Market
The United States is undergoing a profound demographic shift by 2030, 20% of the population is projected to be aged 65 and above up from 16% in 2023, This demographic shift is driving the “Longevity Economy”, which is expanding both in size and influence, reshaping consumer markets across sectors.
The global aging population is fueling demand for longevity drugs and supplements to extend healthspan and prevent age-related diseases. Rising conditions like cardiovascular disorders and neurodegeneration drive interest in NAD+ boosters and senolytics, while wellness trends and government-backed R&D further accelerate market growth.
The growing pipeline of longevity drugs, driven by biotech investments and aging populations, is creating major market opportunities. Promising candidates like senolytics are advancing through trials, with potential to revolutionize age-related disease treatment and fuel exponential market growth.
Economic Impact of Older Adults
Individuals aged 50 and above annually contribute over USD 8 trillion to the U.S. economy, encompassing consumer spending, caregiving and voluntary activity. This Economic influence surpasses that of entire nations like China and Japan. Market Research Future (MRFR) reported that the global longevity market was valued at USD 19.29 billion in 2023 and is projected to reach USD 63.0 billion by 2035, growing at a CAGR of 10.37%.
Healthcare and Wellness
Due to rising of prevalence of age-related chronic conditions like diabetes, cardiovascular diseases and arthritis, demand for healthcare services, Pharmaceuticals, telehealth and personalized programs are also significantly increasing. MRFR Highlights health services, life extension therapies, nutraceuticals and fitness programs as high growth segment.
Housing and Urban Development
This modern trend of Housing and Urban development is driving growth in age friendly homes, assisted living facilities and accessible community designs for older adults seeking housing that accommodates mobility, safety and convenience.” Aging in place” solutions, supported by smart home technology and urban planning innovation are reshaping real estate and infrastructure development.
Technology Adoption
Older adults are rapidly integrating technology into their daily lives. Gadgets like smartphones, tablets, and wearable devices play a vital role in improving communication, monitoring health, and providing easy access to essential services. In response, companies are designing intuitive interfaces and specialized applications tailored to older consumers. At the same time, many new product launches are happening in the wearables segment—for instance, WHOOP introduced WHOOP 5.0 and WHOOP MG, expanding its focus to longevity and healthcare. WHOOP 5.0 offers faster speeds, longer battery life, improved sleep tracking, plus new features like Healthspan scores, Hormonal Insights, and a Health Monitor for early illness detection. WHOOP MG adds medical-grade ECG sensors for AFib checks, shareable health reports, and Blood Pressure Insights (beta). Looking ahead, WHOOP announced a Personal Health OS with upcoming blood testing, backed by tiered memberships from $199 to $359 per year. Similarly, Osteoboost, a wearable medical device, became the first FDA-cleared Class II De Novo Breakthrough Device for low bone density in postmenopausal women. Using patented vibration therapy on the spine and hips, it showed up to 85% reduction in bone loss in clinical trials. Already prescribed by 1,000+ physicians, Osteoboost is backed by major investors including AARP and Terumo Medical, marking a significant advance in drug-free osteoporosis care.
Workforce Participation
Many older adults remain employed longer, which is driven by financial necessity or a desire to stay fit and active. In 2024, according to the statistical data of the U.S Bureau of Labour, approximately 37.3% of Americans aged 55 and older were employed, compared to just 19% of those 65 and older in 1983. Employers are offering flexible work arrangement, phased retirement and lifelong learning programs. Corporate wellness and employment services for older adults are significant market contributors.
MRFR notes that activities like corporate wellness programs and employment- related services targeted the older adults are significant contributors to the longevity economy.
Consumer Preference
Older adults are active consumer weight, a significant distinct preference. they value quality, reliability and customer service that often favoring brand demonstrating social responsibility and sensitivity to life stage needs. MRFR identifies dietary supplements, and aging skin care, medical devices and health services as core product categories capturing this demographic's attention. understanding these differences is critical for business admin to tap into longevity economy.
For instance, in the dietary supplements category, brands like Nestlé Health Science and Amway Nutrilite have developed specialized supplements for bone, joint, and cognitive health, targeting older adults’ preventive health needs. In aging skincare, companies such as L’Oréal and Estée Lauder market anti-aging creams with proven efficacy and gentle formulations suitable for mature skin. In medical devices, innovations like Osteoboost (FDA-cleared wearable for low bone density) and WHOOP 5.0 (wearable for healthspan monitoring) are gaining traction among seniors looking for non-invasive, tech-driven solutions. In health services, providers like Mayo Clinic’s Healthy Aging programs and AARP’s telehealth services address the lifestyle, wellness, and care requirements of older consumers.
Regional and Market Insight
MRFR Highlights regional Dynamics in the global longevity market. North America dominates with a market valuation of USD 10.0 billion in 2024 weight is projected to escalate to USD 30 billion by 2035 that will reflect its higher healthcare investment and infrastructure maturity. Europe experienced this steady growth driven by a heightened awareness of health issues related to age, while Asia Pacific is expected to register faster growth rate, probing the buyer easing population and escalating health demand. these insights of Egypt road map for companies those who are seeking global expansion.
The longevity economy showcases a significant structural shift in the U.S. economic landscape. Older adults are not merely a growing demographic but also a powerful economic force driving transformation across healthcare, housing, workforce participation, technology and consumer market. Companies that align different strategies with the need and preference of this demography which is informed by government and data presented by MRFR we'll be well positioned to capitalize on opportunity in an increasingly aged diverse marketplace.
