Returns to Society from Investment in Cancer Research and Development

Q3 Economics, Econometrics and Finance

Forum for Health Economics and Policy Pub Date : 2016-06-01 DOI:10.1515/fhep-2014-0022

A. Chandra, J. MacEwan, A. Campinha-Bacote, Z. Khan

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引用次数: 4

Abstract

Abstract Background: Since the start of the War on Cancer there have been enormous investments in improving oncology treatment. The return to society generated by this investment is unknown. We estimate the returns generated over the previous four decades and extrapolate future returns from current investment in cancer R&D. Methods: Using data on cancer incidence, mortality, and treatment-specific R&D expenditures from 1973 to 2010, we used regression models and two-sided significance tests to relate investment in cancer treatment R&D to cancer mortality, by tumor type. For investment, we used a measure of the knowledge stock generated by cancer treatment R&D expenditures over the previous 25 years to capture the cumulative benefits of past innovations and advances in treatment. Results: Investment of an additional $1 million in cervical, breast, colorectal, and prostate cancer between 1973 and 1990 was associated with a cumulative return of more than $5 million from cancer R&D by 2010. Through 2010, investment in cancer R&D was associated with average benefits in excess of costs in all but two cancers, ovarian and pancreatic. Regarding future returns, we estimated that each additional $1 million invested in cancer treatment research and development in 2010 will produce over $28 million in value over the following 50 years. Conclusions: The return to society from spending on cancer treatment R&D is large, but varies across tumor types.

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癌症研发投资回报社会

背景:自从抗癌战争开始以来，人们在改善肿瘤治疗方面投入了大量资金。这种投资给社会带来的回报是未知的。我们估计了过去40年产生的回报，并推断了当前癌症研发投资的未来回报。方法:利用1973年至2010年的癌症发病率、死亡率和治疗特异性研发支出数据，采用回归模型和双侧显著性检验，按肿瘤类型将癌症治疗研发投入与癌症死亡率联系起来。在投资方面，我们对过去25年癌症治疗研发支出产生的知识存量进行了衡量，以捕捉过去治疗创新和进步的累积效益。结果:1973年至1990年间，在宫颈癌、乳腺癌、结肠直肠癌和前列腺癌上额外投资100万美元，到2010年，癌症研发的累计回报超过500万美元。2010年，除了卵巢癌和胰腺癌这两种癌症外，癌症研发投资的平均收益都超过了成本。关于未来的回报，我们估计，2010年在癌症治疗研究和开发上每增加100万美元的投资，将在接下来的50年里产生超过2800万美元的价值。结论:癌症治疗研发投入的社会回报很大，但因肿瘤类型而异。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Forum for Health Economics and Policy Economics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)

CiteScore

1.60

自引率

0.00%

发文量

期刊介绍： Forum for Health Economics & Policy (FHEP) showcases articles in key substantive areas that lie at the intersection of health economics and health policy. The journal uses an innovative structure of forums to promote discourse on the most pressing and timely subjects in health economics and health policy, such as biomedical research and the economy, and aging and medical care costs. Forums are chosen by the Editorial Board to reflect topics where additional research is needed by economists and where the field is advancing rapidly. The journal is edited by Katherine Baicker, David Cutler and Alan Garber of Harvard University, Jay Bhattacharya of Stanford University, Dana Goldman of the University of Southern California and RAND Corporation, Neeraj Sood of the University of Southern California, Anup Malani and Tomas Philipson of University of Chicago, Pinar Karaca Mandic of the　University of Minnesota, and John Romley of the University of Southern California. FHEP is sponsored by the Schaeffer Center for Health Policy and Economics at the University of Southern California. A subscription to the journal also includes the proceedings from the National Bureau of Economic Research''s annual Frontiers in Health Policy Research Conference. Topics: Economics, Political economics, Biomedical research and the economy, Aging and medical care costs, Nursing, Cancer studies, Medical treatment, Others related.