Although the word “cancer” has been scary since we identified the disease, it is important that we actually quantify how big of a problem cancer actually is. So, let us look at a few “ballpark” numbers to properly put this in context. First, we are presently spending approximately $200 billion globally per year in cancer related costs and some estimates project this rising to $250 billion in the US alone by 2030 after around $160 billion in 2020. Estimates for lost earnings are around $100 billion annually in the US alone and this number is rising as fast as our overall expenditures. Pharmaceutical companies are aware of this as costs for oncology products continue to increase dramatically and are already averaging over $100,000 per year per patient. As this space is highly lucrative, oncology products in late-stage trials continue to expand aggressively and many hundreds of companies around the world have products in late-stage development.
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