Ten million Britons alive today will live until they are 100 years old, according to new figures.
The findings have prompted the Government to inject more than £300m in developing the technologies needed to support an ageing population.
Ministers say they need to “revolutionise” the way people get older, ensuring they remain healthy and independent for longer.
Although today there are just 15,000 centenarians, the population aged 90 and over has grown more rapidly than other age groups in recent years.
A £210m fund will be set up to encourage the development of innovative new diagnostic tools, medical products and treatments, as part of plans set out by Business Secretary Greg Clarke.
A number of regional centres across the UK will be set up with the aim of using technologies such as artificial intelligence to improve patient diagnosis.
Money will also be used to invest in genome sequencing.
The genomes of 500 “Biobank” volunteers will help develop tools for early diagnosis of illness and disease and a new wave of therapies.
A further £98m will be invested in a healthy ageing programme to help people to live in their homes for longer, rather than having to go into care homes or assisted living facilities.
The UK Dementia Research Institute, in partnership with University College London, will receive £40m to create a new hub hosting 350 leading scientists, researching new treatments for the condition.
Mr Clark said: “We are investing over £300m 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.”