China’s Medical R&D Quadrupled in the Past Five Years

China’s Medical R&D Quadrupled in the Past Five Years

“The National Institutes of Health (NIH) has been a key enabler of the global dominance of the United States in biomedical research and development (R&D). In 2012, NIH funding accounted for $30.9 billion of the R&D investment in the United States. U.S. government funding contributed to the development of 48% of all drugs approved by the Food and Drug Administration (FDA) and 65% of drugs that have received priority review between 1988 and 2005.”

“China showed the largest percentage increase — 313.0%, from approximately $2.0 billion in 2007 to just over $8.4 billion in 2012, for a compound annual growth rate of 32.8%. The United States' share of biomedical R&D expenditures among these regions fell from 51.2% in 2007 to 45.4% in 2012. Europe's share remained essentially unchanged — it was 28.5% in 2007 and 29.2% in 2012 — while the proportion spent by Asia–Oceania increased from 18.1% to 23.8%.”  Reported in Asia's Ascent — Global Trends in Biomedical R&D Expenditures published in the New England Journal of Medicine.

To read the full report, click the link: http://www.nejm.org/doi/full/10.1056/NEJMp1311068