There is already a lot of money being spent on medical research. Cancer is a prime example. Cancer Research UK estimates that about 1/3 of us will have cancer during our lifetime, So there's a very large 'market' or political willingness to fund research. There are some dramatic changes at the scientific level (gene sequencing is getting much faster and cheaper), but progress at the treatment level isn't so quick.

The dramatic advances in consumer electronics aren't just about spending. We spend a similar amount on cars, but a new car today isn't much different from a new car ten years ago. Forty years after we landed on the moon, we don't have day trips there. Consumer electronics change fast largely we've been able to make increasingly tiny patterns in silicon, but most of our other technology develops much slower.