A landmark report released yesterday ( MONDAY) at the LIVESTRONG Global Cancer Summit has revealed that the total economic burden of new cancer cases will be a staggering U$305-billion this year while the treatment funding gap is conservatively estimated at U$217-billion in 2009.

The summit is the first international cancer meeting bringing together world leaders, corporations, non-governmental organisations and individuals to share experiences and make commitments towards the global fight against cancer.

The star of the summit has undoubtedly been testicular cancer survivor and seven times Tour de France champion Lance Armstrong, who flew to the Irish capital on Sunday night after participating in the Tour of Ireland. ‘€œWe need to shift the way in which we fight cancer. We need to stop spending and start investing to remove the losses and pain people suffer,’€ Armstrong, founder and chairman of LIVESTRONG, told a packed media briefing.

The report, which economists warn are making conservative estimates and projections, shows that lower and middle income countries make up for 65 percent of the treatment gap and that high-income countries, representing 15 percent of the world population, contribute to 94 percent of the global total expenditure.

In addition to the economic cost of cancer, the report estimates that there will be 30 percent (3,9-million) more new cancer cases in 2020 than in 2009. The largest percentage increase in new cancer cases is projected to occur in Africa, with Asia having the most new cases in absolute terms. More than half of new cancer cases and nearly two-thirds of cancer deaths occur in the developing world. By comparison, in 1970, the developing world accounted for 15 percent of newly reported cancers.

Studies are showing that cancers have progressed to where they are incurable in 80 percent of patients in the developing world.

‘€œCancer is an act of violence,’€ said Dr John Seffrin, Chief Executive Officer of the American Cancer Society. ‘€œFirstly cancer patients have to fight for their lives and then they have to fight for the care they need,’€ he said.

Armstrong was welcomed earlier in the day with a standing ovation by the more that 500 delegates from 65 countries. Dressed in a business suit and tie, Armstrong told participants ‘€œwe have picked a tough fight’€.

‘€œIt will not be won easily. It’€™s a very tricky disease, but as an optimist I believe we can ultimately defeat the disease,’€ said Armstrong.

Armstrong and fellow panelists used the summit platform to repeatedly call for a push towards better access to diagnostics and treatment in the developing world. A statement of unity has also been released calling among others on governments to develop and adopt cancer plans, an investment in research and efforts to fight stigma.