As the ageing of the world population rapidly progresses global income levels rise, interest in health increases accordingly. The health ageing industry is growing fast and public health is becoming increasingly important. The health ageing industry is categorised by products such as medicines, medical devices, foods and cosmetics as well as health care services and appearance management services. Growth rate for this market has exceeded the annual average of 11 percent for the rest of the nutraceutical industry and its rapid rise is an opportunity for development in this space. On the other hand, despite the rapid increase in demand, the lack of scientific basis and efficacy of the mechanism for the health benefit is becoming a threat to future growth. In addition, the healthy ageing industry has strengths such as a high level of service in the medical field and advanced manpower base, while a lack of research on ageing and lack of integrated support system is a potential weakness.
A clear and common definition of the health ageing has not yet been established, but from a comprehensive perspective, the healthy ageing industry could be defined as ‘all products and services to prevent and manage physical ageing’. This includes pharmaceuticals, foods, cosmetics, medical devices and relevant healthcare services.
In the future, the healthy ageing industry should focus on the prevention and management of diseases, not the treatment of diseases. Systematic studies should be conducted on ageing mechanisms and healthy ageing efficacy demonstrations enabling the growth in demand. Considering the relevance to the existing industry, the healthy ageing industry is an industrial sector formed by the realisation and specialisation of the demand for health and youthfulness. Consequently, it is necessary to further enhance the existing industry base and competence—the existing industry should be expanded and strengthened. It is reasonable to combine this with related technology and research to establish a competitive advantage.
In his session on the Vitafoods Europe 2018 Education Programme, Dr Sun-Ho Frank Kim will highlight key dietary supplements, non-pharma approaches, and solutions for healthy ageing as well as reviewing successful case studies in bringing healthy ageing products to the global market. Register to attend the Vitafoods Europe 2018 Education Programme here and view the entire programme here.