The U.S. healthcare sector is transforming rapidly, solidifying its position as the nation’s top expenditure and a powerhouse for job growth. For oncologists and cancer researchers, this shift offers critical opportunities and challenges. In 2023, healthcare spending reached $4.9 trillion, or 17.6% of GDP, outpacing housing and food [1]. This post dives into the surge in oncology jobs, escalating cancer care costs, and their implications for 2025, tailored for the OncologyTube.com community.
The Surge in Oncology Jobs
Healthcare is redefining the U.S. economy, adding over 500,000 jobs in 2025, with oncology roles like medical oncologists and researchers leading the charge [2]. The healthcare workforce has expanded significantly, growing from 9% of U.S. employment in 2000 to 13% in 2025 [3]. These trends are particularly relevant for oncology, driven by demographic shifts and evolving care models.
Aging Population Fuels Demand
An aging population is a primary driver of oncology job growth. By 2030, 20% of Americans will be over 65, increasing cancer incidence [4]. Cancer cases are projected to rise by 49% from 2020 to 2050, with breast, lung, and colorectal cancers among the most costly [5]. This demographic reality demands more oncology professionals to address rising patient needs.
Oncology Beyond Hospitals
Oncology is expanding beyond hospitals, with jobs growing in outpatient clinics, telehealth, and home care, especially in rural areas [2]. Nurse practitioners and physician assistants are crucial in addressing oncologist shortages, ensuring access to timely cancer care.
Soaring Costs of Healthcare and Cancer Care
Healthcare spending has tripled, from $1.4 trillion in 2000 to $4.9 trillion in 2023 [7]. By 2032, it’s projected to reach $7.7 trillion, or 19.7% of GDP [8]. Households spent $505.7 billion out-of-pocket on healthcare in 2023, making it the top household expenditure [11].
Cancer Care Costs Escalate
Cancer care significantly contributes to these costs. In 2018, cancer care for privately insured patients under 65 cost $156.2 billion, with drugs as the largest expense [6]. Total cancer care costs were $183 billion in 2015 and are expected to hit $245 billion by 2030, a 34% increase [9]. Patients faced $21.1 billion in cancer-related costs in 2019, including $16.2 billion out-of-pocket [10]. Cancer care accounts for 48% of acute hospital spending, underscoring its economic weight [14].
Challenges in Oncology
Despite job growth, oncology faces significant obstacles that threaten care delivery and professional well-being.
Physician Shortages
A projected shortage of 124,000 to 160,000 physicians by 2035, including oncologists, could limit access to specialized cancer care, particularly in rural areas [12]. Innovative workforce strategies are essential to bridge this gap.
Burnout Among Oncologists
Burnout affects 32% of oncologists, driven by intense workloads and administrative pressures [13]. Addressing this crisis is critical to maintaining care quality and retaining professionals.
Policy Risks
Proposed $1 trillion Medicaid cuts over a decade could restrict job growth and cancer care access, especially for academic medical centers vital to oncology research [16]. Advocacy is needed to protect these resources.
Opportunities for Oncology in 2025
Amid challenges, oncology professionals can seize opportunities to shape the future of care.
Workforce Diversification
Training programs are diversifying the oncology workforce, preparing more specialists and technicians to meet demand [2]. These efforts enhance care delivery and promote equity.
Value-Based Care
Oncologists can champion value-based care, optimizing outcomes and reducing financial toxicity for patients. Systems thinking—integrating technology and patient-centered approaches—is key [2].
Compensation Trends
Oncology remains lucrative, with median salaries exceeding $400,000 annually [[15]. However, wage pressures in specialties like behavioral health highlight the need for sustainable economic models.
Call to Action
The surge in oncology jobs and rising cancer care costs mark a critical juncture. Oncologists and researchers must advocate for policies that support workforce growth, combat burnout, and ensure equitable care. Dive deeper into these trends with The New York Times’ 2025 report and explore OncologyTube.com’s ASCO topics page for the latest insights.
Conclusion
Healthcare’s dominance, with $4.9 trillion spent in 2023 and cancer care costs projected to reach $245 billion by 2030, is reshaping oncology [1, 9]. By addressing shortages, burnout, and policy risks, the oncology community can leverage this growth to enhance patient outcomes. Visit OncologyTube.com for a web companion to our exclusive video and share this post to drive discussion.
References:
- Centers for Medicare and Medicaid Services (CMS), National Health Expenditure Accounts, 2023. https://www.cms.gov/data-research/statistics-trends-and-reports/national-health-expenditure-data
- The New York Times, “How Health Care Remade the U.S. Economy,” July 2025. https://www.nytimes.com/interactive/2025/07/03/business/economy/healthcare-jobs.html
- Ibid.
- CMS, National Health Expenditure Projections, 2024–33. https://www.cms.gov/data-research/statistics-trends-and-reports/national-health-expenditure-data/projected
- National Cancer Institute (NCI), Cancer Statistics, 2020–2050 Projections. https://www.cancer.gov/about-cancer/understanding/statistics
- NCI, Financial Burden of Cancer Care, 2018 Data. https://pmc.ncbi.nlm.nih.gov/articles/PMC8495533
- Peterson-KFF Health System Tracker, Health Spending Trends, 2024. https://www.healthsystemtracker.org
- CMS, National Health Expenditure Projections, 2024–33. https://www.cms.gov/data-research/statistics-trends-and-reports/national-health-expenditure-data/projected
- NCI, Cancer Care Costs Projections, 2015–2030.
- American Cancer Society, Economic Impact of Cancer, 2019.
- CMS, National Health Expenditure Accounts, 2023. https://www.cms.gov/data-research/statistics-trends-and-reports/national-health-expenditure-data
- Association of American Medical Colleges (AAMC), Physician Workforce Projections, 2025–2035. https://www.aamc.org/data-reports/workforce/report/physician-workforce-projections
- American Society of Clinical Oncology (ASCO), Oncologist Burnout Survey, 2023. https://www.asco.org/news-initiatives/policy-news-analysis/new-reports-assess-oncology-workforce-well-being-propose
- NCI, Cancer Care Spending Breakdown, 2018. https://www.cancer.gov/about-nci/budget/fact-book/archive/2018-fact-book.pdf
- Medscape Physician Compensation Report, 2024. https://www.medscape.com/slideshow/2024-compensation-overview-6017073
- The New York Times, “How Health Care Remade the U.S. Economy,” July 2025. https://www.nytimes.com/interactive/2025/07/03/business/economy/healthcare-jobs.html