The Economics of Cancer Research
Cancer Research is and has been one of the fastest growing fields in the United States. With an annual growth rate projected in excess of 35 percent it is an economic force. With cancer providing a conduit for billions of dollars, the question is, can we afford to cure cancer.
Cancer Research Dollars
The United States Government spent 388,462,000,000 USD (US Dollars) on cancer related research in fiscal year 2012. The American Cancer Society added another 130.000,000 USD. Many other more specialized organizations (Breast Cancer Society, Colon Cancer Society etc.) add approximately 200,000,000 USD to Cancer Research spending. These Cancer Research funds help support over 3000 laboratories, research centers, and institutions of higher learning located in all 50 states and the District of Columbia. In excess of 100,000 researchers of Doctorial level are employed in these facilities. With a median salary of 76,130 USD, these cancer researchers have a major impact on their local economies.
Secondary Economics of Cancer Research
For every Cancer Researcher there is an army of supporting staff. These range from Research Assistance and Medical Report Writers to Janitorial staff and Receptionists. Each of these Cancer Research related positions, supplies a job and a salary that feeds the local economy. From the local grocery to the local mechanic every aspect of a community benefits from the dollars spent on Cancer Research.
Cancer Research; the business of Charity
Charities also play a major economic role in the business of Cancer Research. I will only detail here the role played by The American Cancer Society. I found 45 other, national level, cancer societies listed with the New England Hematology/Oncology, Associates but The American Cancer Society is the largest and best funded of all the Cancer related charities. For the Fiscal Year 2010, The American Cancer Society showed total revenue of 956 million USD. Of this 956 million, 368 million was paid as direct salaries and 231 million in retirement benefits. These numbers reflect only the national organization.
Cancer an economic question mark
As you can see, cancer is an economic force to be reckoned with. Millions of people depend on Cancer Research for their daily bread. It is hard to ignore numbers as large as those discussed above. No mention has even been made about the cost of treatment; billions spent on medication, hospital, and doctor bills. With the amount of money being spent and the number of people dependent on cancer for their livelihood the question has to be asked; Can we afford to cure cancer.
It is not my intention to cast any disparity on any of the fine people who work every day to alleviate the suffering that cancer causes. They have my utmost respect. I know this suffering first hand. My sister died from cancer when she was 35. I watched her and my entire family suffer through three remissions and recurrences before we lost her. As with most things I don’t understand, I hide in study. This article is the result of some of what I have learned.
Read more from Gregory Lovvorn.
