A new study suggests that using 75-100 mg of aspirin daily can lower the risk of developing cancer.

The researchers at the Queen Mary University of London (QMUL) have found that using aspirin on a daily basis for a decade can lower the risk of several cancers of the digestive tract such as bowel, stomach and esophageal cancer.

This isn't the first time that the popular drug has been linked to lower risk of cancer. Previous research has shown that daily dose of aspirin can help people reduce their risk of developing and dying from cancers of colon. However, studies have also shown that the drug could up eye disease risk. The latest study shows that the benefits of using the drug outweigh its harmful effects.

"It has long been known that aspirin - one of the cheapest and most common drugs on the market - can protect against certain types of cancer. But until our study, where we analysed all the available evidence, it was unclear whether the pros of taking aspirin outweighed the cons," said Jack Cuzick, Queen Mary University of London.

For the study, the researchers analyzed data from previous studies conducted on the subject. According to the team, taking 75-100 mg of the drug for at least five years and probably 10 years for those aged between 50-65 years led to a decline in cancer risk.

The researchers found that taking a daily dose of aspirin could decrease bowel cancer cases by about 35 percent and deaths by 40 percent. Similarly, rates of esophageal and stomach cancers were reduced by 30 percent and deaths by 35 to 50 percent.

Taking the drug for longer duration, however, was linked to an increase in bleeding risk. Sixty-year-old participants, who took the drug for over ten years, had 3.6 percent risk of developing digestive tract bleeds up from 2.2 percent risk in people who didn't take the drugs.

"Our study shows that if everyone aged between 50-65 started taking aspirin daily for at least 10 years, there would be a 9% reduction in the number of cancers, strokes and heart attacks overall in men and around 7% in women. The total number of deaths from any cause would also be lower, by about 4% over a 20-year period. The benefits of aspirin use would be most visible in the reduction in deaths due to cancer," Cuzick said in a news release.

The researchers said that the risk of bleeding is still low and that people should consult their doctors before taking the medication.

The study is published in the journal Annals of Oncology.