Objective: Cancer continues to be a leading cause of death, but the last few decades have seen many changes in the diagnosis and treatment of the disease. In this study, we estimate the economic value of gains in cancer survival over the last 20 years, separate these gains into the portions due to improvements in treatment and detection, and determine the extent to which the economic value of gains in cancer survival have been divided between patients and firms. Methods: Using methodology developed by Philipson and Jena (2005), we estimated the economic value of gains in cancer survival between 1990 and 2000. We then used estimates from the literature to calculate expenditures on cancer treatment, thereby allowing us to determine how the social value of gains in cancer treatment has been divided between patients and firms. Results: The value of survival gains for all cancers combined was worth roughly $28,000-$30,000 per cancer patient, and most (78-88%) of this gain has been driven by improvements in treatment. For all cancers combined, improvements in cancer survival between 1990 and 2000 had a social value of roughly $1.6-$1.9 trillion, and health care providers were able to appropriate 6-19% of this total, with the rest accruing to patients. Conclusion: The social value of recent gains in cancer survival is very large. Most of this gain has been driven by improvements in cancer treatment, and has been appropriated by patients, not health care providers.