In 2023, Germany led European R&D expenditure in pharmaceuticals at 5.76 billion euros, surpassing Spain (0.839 billion euros), Finland, Portugal, Latvia, Slovakia, and Estonia. While Germany witnessed a modest 1.97% growth, Spain grew by 2.14%. Latvia and Estonia experienced notable increases of 7.34% and 10.02%, respectively. Conversely, Portugal and Slovakia saw declines, with Slovakia notably dropping by 8.12%.
Future trends suggest that innovations driven by digital transformation, biotechnology advancements, and regulatory evolutions will likely shape R&D investments. Collaborative efforts within the EU and external partnerships can also influence national R&D allocations.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Basic Pharmaceutical Products and Pharmaceutical Preparations by Country
| # | 7 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 5,760 | 2023 | +2.23% | +1.97% | View data |
| 2 | 2 Spain | 839.31 | 2023 | +1.73% | +2.14% | View data |
| 3 | 3 Finland | 161.4 | 2023 | +1.49% | +1.58% | View data |
| 4 | 4 Portugal | 110.96 | 2023 | +2.36% | -1.02% | View data |
| 5 | 5 Latvia | 6.47 | 2023 | +1.57% | +7.34% | View data |
| 6 | 6 Slovakia | 1.72 | 2023 | -14.75% | -8.12% | View data |
| 7 | 7 Estonia | 0.97 | 2023 | -0.51% | +10.02% | View data |
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