Lord Lebedev highlighted the transformative potential of longevity research in addressing the UK’s ageing crisis during a recent speech in Parliament on Monday 22 July 2024. He emphasized that as life expectancy rises, the proportion of time spent in good health is declining, posing a significant medical and economic challenge.
Economic Impact of Ageing
Lord Lebedev stated, “Our country faces a medical crisis. As life expectancy has increased, the proportion of time spent in good health is going down. We must urgently develop a new approach to medicine.” He pointed out that the cost of age-related diseases like dementia, which alone costs the UK economy £34.7 billion annually, is escalating. With the population ageing, this economic burden is set to increase further.
The ICAEW analysis supports this, indicating that by 2040, the number of people aged 85 and over is projected to double, increasing the strain on healthcare, pensions, and social care systems. This demographic shift necessitates substantial public spending adjustments to maintain financial sustainability. ICAEW also notes that by 2039, public spending on healthcare is expected to rise by 1.8% of GDP.
“Going forward, NHS spending will need to grow by 3.1% a year and social care funding by 4.3% a year to meet the needs of the UK’s ageing population, estimates the Health Foundation. It’s more funding than was promised in the NHS Long Term Plan, published by the government shortly before the pandemic added yet more pressure to the UK’s healthcare infrastructure,” according to the ICAEW report.
Innovative Approaches and Scientific Breakthroughs
Lebedev emphasized the importance of a paradigm shift in medical research, advocating for a focus on the root causes of diseases rather than just symptoms. He highlighted the discovery of the 12 hallmarks of ageing, including stem cell loss and metabolic dysregulation, which are central to understanding age-related diseases. “A groundbreaking new theory suggests ageing is driven by the loss of vital regulatory information within our cells, rather than primarily accumulating damage over time,” he explained.
He mentioned advancements such as epigenetic reprogramming, which could reset body tissues to a more functional state, potentially reversing vision loss in mice, with human trials set to begin. He also highlighted drugs like senolytics, which eliminate senescent cells contributing to chronic diseases, as promising.
Economic and Social Benefits
Lebedev underscored the potential economic benefits of longevity research, citing that just a 20% reduction in six major diseases could boost the UK’s GDP by nearly £20 billion annually. Furthermore, increasing the state pension age could add £55 billion annually to the economy by keeping people in the workforce longer.
“Britain can become the global leader in longevity science, and capturing this beachhead will benefit us both socially and economically,” Lebedev stressed. “We stand at the precipice of a medical revolution, catalysed by medical monitoring devices, genomics, and our understanding of what drives ageing.”
Future Vision
Lord Lebedev envisioned a future where ageing is treated as a medical condition, leading to more effective interventions and improved health outcomes. He drew parallels between the rapid advancements in longevity science and the AI revolution, stressing that longevity research deserves equal attention for its potential societal impact. “By developing therapies that reverse age-related diseases, we can allow people to live not only longer but, more importantly, in good health,” he said.
Conclusion
By investing in longevity research and adopting a proactive approach to treating ageing as a medical condition, the UK can not only reduce the economic burden of age-related diseases but also enhance the quality of life for its ageing population. This approach can transform a looming crisis into an opportunity for continued vitality and productivity.
For more detailed insights, you can read the ICAEW’s analysis here.
