The Government is to inject more than £300 million in developing the technologies needed to support an ageing population.
With 10 million Britons currently alive expected reach the age of 100, ministers say they need to "revolutionise" the way people get older, ensuring they remain healthy and independent for longer.
Under the plans set out by Business Secretary Greg Clarke (pictured), a £210 million competitive fund will be established to invest in the development of innovative new diagnostic tools, medical products and treatments.
It will include the creation of a series of regional centres across the UK to improve the diagnosis of patients using technologies such as artificial intelligence.
It will also invest in genome sequencing, drawing on the genomes of 500 "Biobank" volunteers to develop tools for early diagnosis of illness and disease and a new wave of therapies.
A further £98 million will be invested in a healthy ageing programme to develop new products and services to help people to live in their homes for longer.
In addition, another £40 million will be going to the UK Dementia Research Institute, in partnership with University College London, to create a new hub hosting 350 leading scientists, researching new treatments for the condition.
Mr Clark said: "We are investing over £300 million into developing the treatments of the future, in new technologies that will revolutionise the way we age and provide everyone with the best possible chance to grow old with dignity in their own home."
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