The disease that kills the most people in the world is also the most expensive to rid of by patients, as the latest reports show last year's reports on cancer drug spending, as it's been proven that the disease takes up more money than ever for patients around the world.
Since the latest cancer drug spending reports came out earlier this week, the world has been in shock as it's becoming clearer and clearer that there's a global necessity to decrease costs in the disease's medicine and treatment, as the vast majority of people around the world aren't able to afford their prescription.
According to NBC News, the recent cancer drug spending report's all-time high comes at a time when the world is attentively watching on medicine prices, as it becomes a larger issue in the matter of social security and the like.
International Business Times reports that the cancer drug spending in 2014, a total of $100 billion worldwide, is up more than 10 percent from 2013 and about 33 percent from just five years ago, when it stood at $75 million; it seems like the rising rate on spending for cancer medicine stands at about 6.5 percent annually in the past five years, though jumping an amazing 10.3 percent in 2014.
The cancer drug spending numbers came from IMS Health's Global Trend Report, which was released last Tuesday.
According to Reuters, these $100 million represents 10.8 percent of global drug spending and includes drugs that treat consequences to other treatments, including nausea and anemia.
The new report states that the leading cause for the high prices comes from expensive newer treatments in more developed markets.
Estimates state that, by 2018, the rates could be between $117 and $147 billion, taking into account the possible annual rate of 6 to 8 percent, certainly a lot more than what should go into cancer drug spending for such a difficult and common disease.
