Cancer research may not be so bad at far as developed world interventions go.
The Wellcome Trust, a UK-based medical research charity funding research into human and animal health, estimated that “total expenditure on cancer-related research [in the UK] from 1970 to 2009 was £15 billion” and that “over the period 1991–2010, the interventions included in the study produced 5.9 million quality-adjusted life years”. This would imply a return of £2542.37 per DALY at the time of the study, or ~$4195 per DALY in 2016 US dollars.
Notably, none of these estimates compare well to the best developing world interventions (~$80 per DALY), but they are far more cost-effective than the average medical intervention at $30K per DALY in 2016 US dollars (Tengs, et. al., 1994, p371).
Of course, that these estimates are not robust and comparisons with figures from other sources are not apples-to-apples.
Agreed. I think that medical research is probably a pretty decent choice for the reasons you give, but that cancer is likely to be the worst choice within the medical research space.
Cancer research may not be so bad at far as developed world interventions go.
The Wellcome Trust, a UK-based medical research charity funding research into human and animal health, estimated that “total expenditure on cancer-related research [in the UK] from 1970 to 2009 was £15 billion” and that “over the period 1991–2010, the interventions included in the study produced 5.9 million quality-adjusted life years”. This would imply a return of £2542.37 per DALY at the time of the study, or ~$4195 per DALY in 2016 US dollars.
Separately, Holden Karnofsky at the Open Philanthropy Project estimated the cost-effectiveness of cancer research in the US to be ~$2800 per DALY.
Notably, none of these estimates compare well to the best developing world interventions (~$80 per DALY), but they are far more cost-effective than the average medical intervention at $30K per DALY in 2016 US dollars (Tengs, et. al., 1994, p371).
Of course, that these estimates are not robust and comparisons with figures from other sources are not apples-to-apples.
Agreed. I think that medical research is probably a pretty decent choice for the reasons you give, but that cancer is likely to be the worst choice within the medical research space.