Taking a low dose of aspirin every day could help slash the risk of developing cancer, a study has suggested. 

Aspirin, which is found in most medicine cabinets, is a painkiller used to treat a variety of aches and pains.

Previous studies have shown the medicine—which can cost as little as 3p a pill—can lower the risk of colon cancer.

Now, Australian researchers who tracked almost 10,000 adults over five years, have discovered those taking a low dose of the drug had a 15 per cent lower risk of developing cancer.

The participants were aged between 71 and 77 at the start of the study, and 53.7 per cent were female. 

They either took 100mg of aspirin per day, or a placebo tablet. 

Researchers found aspirin was more likely to prevent cancer in people at the older end of the age range, who did not smoke, had a lower BMI, and had a family history of cancer. 

Many in this group also had a condition known medically as clonal haematopoiesis of indeterminate potential (CHIP)—when someone has blood cell mutations as they age that raises their risk of cancer.

They found having CHIP in 10 per cent of blood cells was the strongest predictor that a low dose of daily aspirin could lower the risk of cancer.

Writing in the journal JAMA Oncology, the researchers said the findings suggest CHIP may 'play a vital role' in influencing how effective aspirin is, potentially through how it affects the body's 'inflammatory pathways'. 

However, they acknowledged that further research was vital to proving if aspirin could prevent cancer.

They also noted the study had several limitations, including the fact it included 'relatively healthy older white adults in Australia'. 

'Previous studies suggest that initiation of aspirin use at earlier ages may have differential benefits on long-term cancer risk compared with at older ages,' they added.

Research has also long warned that long-term aspirin use can cause stomach ulcers and bleeding.

The scientists said that if a low dose of daily aspirin is considered for cancer prevention, bleeding risk should be considered when weighing up the benefits of using the drug. 

The medication has long been hailed for its ability to lower risk of a heart attack and stroke.

It is typically recommended patients with coronary artery disease (CAD) take a daily aspirin to thin their blood and reduce their odds of suffering a serious cardiac event. 

Coronary artery disease, also known as coronary heart disease, is the most commonly diagnosed type of heart disease and affects 2.3million people in the UK.

It occurs when arteries in the heart become narrowed by a build-up of atheroma, a fatty material within their walls.

Patients with CAD have traditionally been put on aspirin for the rest of their life but evidence supporting its long-term benefits and safety have been limited.