20 Countries with the Highest Cancer Survival Rates in the World

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In this article, we will be taking a look at the 20 countries with the highest cancer survival rates in the world. If you do not want to learn about the cancer treatment in the US, head straight to the 5 Countries with the Highest Cancer Survival Rates in the World.

Navigating the Terrain: The Complex Landscape of Cancer Treatment in the United States

The global market for cancer treatments is expected to grow significantly from its 2021 figure of $166.5 billion to a projected value of $335.06 billion by 2029. The severity of the cancer crisis is demonstrated by the 1,603,844 new cancer cases that were reported in the US alone in 2020, which resulted in the deaths of 602,347 people. Lung, breast, and prostate cancer are among the most common types of cancer in the US which  provide difficulties to patients and medical professionals.

The United States leads the global oncology market, with the highest percentage of reported cancer cases and fatalities worldwide. The US cancer treatment market is growing due to the availability of sophisticated diagnostics and medicines, attractive reimbursement rules, and a strong healthcare infrastructure, which somewhat offsets this burden. But the price of this advancement is high, both materially and psychologically. In 2015, the US spent an estimated $190.2 billion on cancer care and this amount was increased to $208.9 billion in 2020. The annual average cancer-related expenses per patient vary greatly which depends on the kind of cancer a person has developed. For example, prostate cancer costs $312 on average, whereas multiple myeloma costs $29,878.

Despite these difficulties, there is a lot of untouched commercial potential, especially in the oncology therapies market, which account for 20% of all pharmaceutical sales worldwide, which highlights the enormous market prospects that encourages pharmaceutical companies to spend more money on developing novel therapies through R&D.

Insights into Global Cancer Medicine Spending, Breast Cancer Trends, and the Oncology Pipeline

In 2021, the world spent a staggering $185 billion on cancer medicines, with a projection to reach $300 billion by 2026, as per IQVIA. Leading this spending spree was the US, closely followed by European countries. By 2022, a remarkable 2,200 oncology-related products were in various stages of development, with 63% of them originating from emerging biopharma companies. These emerging players, typically investing less than $200 million annually in research and development, are rapidly expanding their pipelines. However, large pharmaceutical firms, covering only 23% of products in 2022, down from 39% in 2016, seem to be facing a decline in their oncology pipeline.