If you are wondering which country is spending the highest amount of money on medical research, keep reading this article, and you will get your answer in our list of 10 countries with highest medical research spending.
U.S. research and development expenditure (% of GDP) on medical research grew at a median annual rate of 6 % between 1994 and 2004. This pace fell sharply within the following decade, where the annual rate of growth reduced to 0.6 percent, falling behind the pace of inflation. With the exception of the temporary increase led to by federal stimulant spending in 2009 and 2010, the last 5 years have seen a decrease in research funding once adjusted for inflation. Overall, medical R&D funding has declined in real terms by 13 % since 2004. Research funding, by the personal sector, has conjointly shifted to later stage development and far from basic science. Guided primarily by the need to understand short economic advantages, the share of paying by pharmaceutical, biotechnology, and medical device firms on part 3 clinical trials (massive studies in people who usually represent the ultimate step before regulative approval) grew by 36 % between 2004 and 2012.
Although the USA once accounted for over three-quarters of the world’s research disbursement, its share has continued to increase in recent years, whereas countries in Asia saw a dramatic increase that we can see in any r&d expenditure by country 2016 report. We also looked into the r&d expenditure in India. In a study in the New England Journal, researchers found the U.S. comprised 51% of world research spent, at $131 billion in 2007. However, by 2012, that range dropped to $119 billion, or 45%. By comparison, Japan and China enhanced their outlay by $9 billion and $6.4 billion during the same time. According to global r&d spending 2015 and china r&d spending 2015 report, Japan and China accounted for 13.8% and 3.1% of the world’s total research spending. Meanwhile, countries like Japan and China saw a surge in investment from the non-public sector. Business contributions to research outlay in China raised from $1.5 billion in 2007 to $6.3 billion in 2012. In Japan, such investment enhanced from $6.7 billion, to $27.6 billion in 2012. Globally, research and development spending by industry has remained comparatively flat, which implies corporations are merely reallocating analysis funds to alternate countries. People with serious medical conditions from around the world would be grateful to live in one of the 10 most advanced countries in medicine. Once the undisputed center of world innovation in medicine, the U.S. is steadily losing ground to Asia and Europe and can, if trends continue, relinquish its leadership within the coming decade.
In order to compile this list of 10 countries with highest medical research spending, we have collected data from various trusted websites and news portals like US News, USA Today, Quora and many more sites. We also looked into the top 10 countries in science research and the list of countries by research and development spending 2017. The study tracked medical analysis activity from 1994 to 2017 within the U.S., Europe, Asia, Canada, and Australia, and other countries for collecting information to find out their funding by public and personal sources, the creation of property, and therefore the size of the medical and scientific manpower. The country that has the highest medical research spending ranked 1st on our list, and the country with the lowest research spending at the last place.
Based on these parameters, here is the list of 10 countries with highest medical research spending.