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New Study -- Cost of Cancer Rapidly Becoming Unaffordable

September 27, 2011 | 4,521 views

A new report from a panel of 37 experts states that the cost of cancer is rapidly becoming unsustainable in many developed countries.  The report questioned the worth of expensive new therapies that prolong patients' lives by only months.

Currently, 12 million people worldwide are diagnosed with cancer each year, costing $286 billion annually in medical costs and lost productivity. By 2030, that number could increase to 22 million people each year, with a similar rise in costs.

According to Time Magazine:

“The overall increase [in cost] is being fueled by rising cancer rates ... along with increasingly advanced and expensive new cancer drugs and high-tech diagnosis methods, the expert panel found ... Other factors that increase costs in wealthy countries include overuse of unnecessary tests and the use of expensive diagnostic equipment.”

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