The global quality-of-life (QoL) market is expanding beyond its traditional roots in health and life sciences to become a strategic priority for all sectors, including real estate, technology, and consumer-facing industries. Executives prioritizing QoL estimate that related offerings could represent 9 to 15 percent of annual sector revenues over the next decade, potentially amounting to $6.7 trillion to $11.2 trillion in market growth by 2034.
What’s more, investment in QoL-related industries has surged in recent years. Venture capital funding for digital health in the United States has grown fivefold between 2013 and 2023, and funds are channeling significant resources into longevity-focused research and development. These trends position QoL as a critical focus for investors, consumers, and businesses alike.
To better understand this evolution, McKinsey conducted a global survey of C-suite executives that explored sentiments across sectors and geographies about this emerging market, its potential impact, and the opportunities it presents. This piece presents the survey’s findings and explores how companies and investors across sectors can enter the QoL market and make the most of it.
Quality of life: An emerging market and cross-sectoral imperative
Understanding the QoL market begins with distinguishing two pivotal concepts: lifespan and health span (Exhibit 1). Lifespan focuses solely on the total number of years a person lives, while health span emphasizes the quality of those years—the time spent in good health, free from chronic illnesses or debilitating conditions.
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A pictograph shows results from a survey of 22 countries across 25 industries, conducted in November 2024. The goal of the survey was to measure how executives across industries feel about the potential of the quality of life (Q o L) market. According to the pictograph, 78 percent of executives express enthusiasm for the Q o L market’s growth prospects; 73 percent see the Q o L market as a growth accelerant to their sectors; 90 percent see participating within the Q o L market as a strategic priority; and 84 percent plan on developing Q o L-related offerings within the next year.
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The QoL market aspires to extend both lifespan and health span, enabling individuals to live additional years with vitality and well-being. This dual focus has allowed the market to expand beyond its traditional association with healthcare and extend into sectors such as information technology, finance, and consumer staples.
Nearly half of surveyed executives see QoL as a powerful opportunity to align with evolving consumer expectations while enhancing brand reputation (see sidebar “About the survey”). In today’s landscape, in which brand loyalty increasingly hinges on shared values, this alignment goes beyond generating revenue—it establishes relevance and builds trust in a highly competitive market.
Our research reveals that nearly…
Read More: Investing in living better: Quality of life and the future of business
