A new progress report from the American Association for Cancer Research (AACR) found that more people than ever are surviving a cancer diagnosis in the U.S. The report also revealed that the overall death rate, adjusted for age, continues to drop for those diagnosed with cancer.

According to CNN, the number of cancer survivors in America increased by more than a million in the past three years. There are currently 18 million survivors in the country as of last January and that number is expected to rise to 26 million in 2040, says the AACR. The report notes that there were only 3 million cancer survivors in 1971.

There’s more good news for cancer survivors. For all cancers combined, the overall 5-year survival rate jumped to nearly 70% in the years 2011 to 2017 (the latest figures available) compared to only 49% in the mid-1970s.

The association added that the overall cancer death rate fell between 1991 and 2019 with nearly 3.5 million deaths avoided. Their report, released Wednesday, attributed declines in smoking and improved early detection and treatments for the gains.

“Targeted therapies, immunotherapy, and other new therapeutic approaches being applied clinically all stem from fundamental discoveries in basic sciences, said Dr. Lisa Coussens, president of the AACR. “Investment in cancer science, as well as support for science education at all levels, is absolutely essential to drive the next wave of discoveries and accelerate progress.”

Coussens explained in a YouTube video that when she started her career, there were only two types of treatment options available for cancer patients: chemotherapy and radiation. Just this summer, the Food and Drug Administration approved eight anticancer therapeutics, expanded the use of 10 previously approved medications to treat new cancer types, and approved two diagnostic imaging agents, Coussens said.

Increased funding for cancer is the goal of President Joe Biden’s relaunched Cancer Moonshot initiative, says CNN, adding that the president aims to cut cancer death rates by at least half in the next 25 years.

More than 600,000 people are still expected to die from cancer this year, says the AACR, and the number of new cases in the U.S. is expected to reach nearly 2.3 million by 2040.

About 40% of cancer cases are caused by preventable risk factors such as smoking, drinking too much alcohol, eating a poor diet, not exercising enough, and being obese, said the report. COVID-19 had a detrimental effect on cancer cases with nearly 10 million missed screenings in 2020 for breast, colorectal and other forms of cancers.

“Making progress to end cancer means more birthdays, more Christmases, more graduations and everyday moments for families everywhere,” concluded the report.