Report: Cost of Cancer Is Becoming Unaffordable

cancer costs

The cost of cancer is rapidly becoming unsustainable in many developed countries, according to panel of 37 experts contributing to a new report in the The Lancet Oncology.

To keep costs from spiraling ever upward, the experts said that some tough calculations about cancer treatment would have to be made going forward, like determining the value of using expensive new therapies to prolong patients’ lives by only months.

Already, 12 million people worldwide receive a cancer diagnosis each year, with an associated price tag of $286 billion in medical costs and lost productivity. By 2030, that number is estimated to increase to 22 million people each year, with a comparable rise in costs. More than half of the cost is attributable to medical care.

The overall increase is being fueled by rising cancer rates in an aging global population, along with increasingly advanced and expensive new cancer drugs and high-tech diagnosis methods, the expert panel found. They said that experts, patients, insurers, policymakers, drug companies and the health industry had to work together to lower costs without compromising care.

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  • Dean

    There’s no money in curing anything! Treatment, is the “Cash Cow”!

  • RickC

    I remember on one of his radio shows back in the mid 1980′s, Paul Harvey said if we spent as much on cancer research as we did on one flight to the moon, we would find s cure. How wrong he was. We have probably raised 20 times that much in all our cures for cancer campaigns and still no cure. The reason: too much money to be made in continuing research and dallying around about it. In the late 70′s the front page of a brochure printed for American Family Life Cancer Ins. Co stated at that time cancer was a ten billion dollar a year industry. Congress made them take that off their brochures because it was a scare tactic. Scary that that much money was known about and nothing being done. I would like to know how many cures have been found for all types of cancer since 1970, but no one would dare spill the beans. Let’s just raise more money to feed the HOG.