The Wellness Access Institute (WAI), a global leader in health innovation headquartered in Sydney, has published their annual trends report. Examining a range of subjects within the wellbeing landscape, Wellness Reimagined 2024 focuses on longevity and strategies for healthy ageing.
The wellness industry is growing at a rate of 10% per year1, twice the rate of the global economy, and projections estimate it will reach a staggering $12.9 trillion by 2031. Founded by Warren Liu and Greg Macpherson in 2022, The Wellness Access Institute is focused on accelerating the passage of scientific breakthroughs to society, infusing the international wellness movement with greater accessibility, and providing consumers with greater comprehension of industry leading health and lifestyle solutions.
The Wellness Reimagined report consists of a series of nine articles, exploring longevity and presenting anti-ageing strategies across a range of engaging subjects. It reimagines scientific advancements through the first hand experience of doctors, geroscientists, biotechnologists, cardiologists, and other leading industry experts, encouraging a rigorous focus on the science underpinning the latest health developments.
Wellness Access Institute Co-Founder, Warren Liu, commented;
“In the wake of the pandemic, the global approach to wellness has understandably shifted, what’s remarkable is the momentum that’s now propelling this category. While consumer interest has focused predominantly upon lifestyle changes and wellness products that can be easily integrated into everyday life, industry has focused upon integrating cutting-edge technologies and innovative research designed to discover the next ‘silver bullet’ health ingredients.”
As the wellness market expands and segments, consumers are overwhelmed by choice and navigate purchasing using a cultural compass where North is celebrity endorsement and South is trends.
Greg Macpherson, Wellness Access Institute Co-Founder, explained;
“The Wellness Access Institute is tightly focused on innovation, underpinned by scientific evidence and efficacy. We invest in technology and research projects that help solve universal ageing and health related challenges.”
Medtech and Artificial Intelligence innovations have taken healthcare analytics to new levels, enabling predictive modelling and highly personalised interventions. Wearable devices with health functionality are now commonplace and empower individuals to actively monitor their health and make informed lifestyle choices in real time.
A surging ageing population is an ongoing international phenomenon, with the latest projections indicating that by 2050, 2.1 billion people will be over 60 years old. This demographic shift presents a monumental economic and operational challenge: how can societies, both developing and established, plan to fund the healthcare needs of these surging aged populations?
To circumvent a global health crisis, preventative health must become more widely understood, with individuals becoming more invested in their own health practices and lifestyle choices. The Wellness Access Institute envisages a future where wellness and longevity are universally accessible, scientifically backed, and seamlessly integrated into our daily lives. Our work reflects an open forum of collaboration and thought leadership, teamed with a commitment to fostering innovation in health and wellbeing that can help ensure positive futures for communities worldwide.
The report can be accessed on the WAI website
1. 10% growth rate provided by the Global Wellness Institute
