The true cost of myeloma
has been invisible.
Until now.
For too long, the full burden of myeloma in Australia has gone uncounted. A landmark national study reveals the scale of what patients, carers, and the country are really absorbing every year.
1,100+
Deaths from myeloma every year
27%
Die within 18 months of diagnosis
$325,640
Cost per person, per year
22,000+
Australians living with myeloma
A disease that costs more than it appears
ABOUT THIS REPORT
Myeloma accounts for just 1% of all cancers in Australia, but its impact is vastly disproportionate. This report, prepared by HTANALYSTS and commissioned by Myeloma Australia, is the first comprehensive economic analysis of myeloma's true national burden.
Most of the cost is invisible in traditional health system reporting. Hospital budgets and pharmaceutical spending tell only a fraction of the story. The majority of the burden falls on patients and families through lost quality of life, premature mortality, reduced workforce participation, and unpaid caregiving.
Despite pharmaceutical treatments for myeloma representing 11% of all PBS cancer medicine spending in 2024–25, the disease remains seriously under-prioritised. This report provides the evidence base for a coordinated national response.
5-year relative survival rate, one of the lowest of all blood cancers
New cases expected to almost double by 2043 compared to 2018
Of new myeloma diagnoses are in people younger than 50
Direct Costs
$1.41B
19.7% of total burden
The visible tip of the iceberg: actual financial and health system expenses associated with diagnosis, treatment, disease management, and allied health services.
- Disease and symptom management$1.02B
- Myeloma drug treatments (PBS)$254.3M
- Stem cell transplants (ASCT)$75.0M
- Allied health services$37.5M
- Pre-diagnosis excess costs$24.4M
Indirect Costs
$161M
2.2% of total burden
Non-healthcare costs absorbed by patients and caregivers, including lost income, travel to treatment, and the financial strain of providing care.
- Productivity loss (patients)$66.2M
- Caregiver burden$61.0M
- Travel and accommodation$33.8M
Over 40% of people with relapsed or refractory myeloma are unable to work due to their disease. Among those not working, 48% report their unemployment is directly caused by myeloma.
Wellbeing Costs
$5.60B
78.2% of total burden
The largest and least-visible category: the devastating human cost of premature death, diminished quality of life for patients, and the toll on those who care for them.
- Premature mortality$4.44B
- Carer quality of life loss$630.6M
- Patient quality of life loss$520.4M
18,140 years of life lost and 2,124 years lived with disability every year. These costs are almost never reflected in funding decisions.
The Invisible Majority
Most of the burden sits outside the health system
Traditional health economics focuses on hospital admissions and pharmaceutical spending. These are real costs, but they represent less than 20% of myeloma's true burden. The remaining 80% is borne by patients who can no longer work, carers who give up income and their own wellbeing, and families left behind after premature deaths.
When policymakers rely only on budget-line metrics, myeloma is consistently under-prioritised. This under-counting also undermines access to income protection, carer payments, travel assistance, and workplace flexibility programs.
Making the invisible, visible
Making the invisible, visible
Making the invisible, visible Making the invisible, visible
Cancer Comparison
The highest per-person cost of any cancer
While myeloma affects far fewer Australians than breast or prostate cancer, its cost per person is in a class of its own, reflecting the complexity, chronicity, and incurability of the disease.
Blood Cancer
Multiple Myeloma
$325,640 22,000 AustraliansBlood Cancer
Non-Hodgkin Lymphoma
$133,090 61,739 AustraliansCancer
Bowel Cancer
$236,517 109,249 AustraliansCancer
Breast Cancer
$69,661 284,272 AustraliansCancer
Prostate Cancer
$54,829 290,163 AustraliansCost per person based on 40-year prevalence data. Source: AIHW, Australian Burden of Disease study, and HTANALYSTS analysis (2024).