Not an expert at all but I believe metabolism plays a big factor in it all.
Metabolism also in general plays a big factor in reaction time, think of how a fly can dodge you swatting at it repeatedly. From the fly’s perspective you’re actually very slow, it’s body is working at a much higher rate and leading to a shorter life.
Not a specialist, but it depends. But, basically, if the animal is simple (not many types of cells), then it survives because… It’s simple. Examples: sponges and some jellyfish. If it is complex, then the smaller the animal, the easier it loses heat, and therefore, the higher its metabolism. Higher metabolism means more oxidation, which means more cell and DNA damage, which causes age (or cancer) and eventually leads to death. The opposite works for bigger animals, which basically have slower metabolism, but as they have huge number of cells, one would expect them to be infested with cancer: more cells, more replication, more cancer, then death. I think it’s not well understood how, but it’s generally agreed that they have mechanisms to prevent cancer and so they live longer, because they have slower metabolism and less cancer.
The relationship between age and size is not as self-evident as you might think. There are some bugs that can in fact live to be decades old (Termite queens and some cicadas). Many birds, although not very large have some of the longest lifespans in the animal kingdom (Parrots can live to 80 years, although they generaly have a very high metabolism). Whales and Elephants are much larger mammals than humans but they do not have longer lifespans (although they might if they were given the same medical care). Ageing is a very complex topic that is still very poorly understood by scientists. It is a number of factors that result in the variety of lifespans in the animal kingdom and while metabolism, cancer rates, and the like play important roles, environmental factors, like the risk of being killed by predators are also important. Consider also that getting to a very old age is only selected for in evolution if it means an increase in reproductive sucess. Most animals die quickly after they stop being able to reproduce.
Check out the book Scale by Geoffrey West. There is actually correlation between an animals size and the metabolic rate that leads to animals like hummingbirds and blue whales having roughly the same number of heartbeats over the course of their lifetimes.
Here’s a summary:
https://link.medium.com/gbEjB14peib
Latest Answers