A newly published study in JAMA Oncology estimates that cancer will cost the global economy more than $25 trillion between 2020 and 2050. The researchers analyzed data from 29 cancer types in 204 countries and territories, assessing the economic costs associated with cancer-related deaths and illnesses including treatment expenses, labor and productivity losses, unemployment and reduced capital investment. China, the U.S. and India account for roughly half of the global financial burden, while Monaco, Ireland and Bermuda pay the most per capita. Tracheal, bronchus, and lung cancer, alongside costs from colon and rectum cancer, breast cancer, liver cancer and leukemia, accounts for half of the global economic costs of cancer.
Wealthier countries accounted for the majority of the economic costs tied to cancer, the researchers said, facing losses of around $12.8 trillion, a 0.72% hit to total GDP and more than $10,000 per capita. The financial burden was much lower in lower income countries, the researchers said, an estimated $168 billion in total, or $174 per capita and around 0.26% of GDP. This figure comes despite the fact that such countries account for more than 85% of the world’s population and bear the brunt of the human costs of cancer.
The World Health Organization (WHO) estimates that cancer caused 1 in 6 deaths in 2020, nearly 10 million lives. The organization said around one third of cancer deaths are due to tobacco use, high body mass index, alcohol consumption, low fruit and vegetable intake, and a lack of physical activity.
In light of this staggering financial burden and immense human toll, the researchers said their findings can help give policymakers a more holistic picture and illustrate the value of taking steps to curb cancer, such as research and development, enhanced screening and diagnostics, better access to treatments, developing better treatments and initiatives to mitigate cancer risks, such as taxing tobacco and banning smoking in public. In February 2021, U.S. President Joe Biden revived the cancer “moonshot” initiative he led as vice president, with an aim of cutting the cancer death rate by 50% over the next 25 years.