In 2023, South Korea led in business enterprise expenditure on R&D in medical and health sciences, with significant year-on-year growth of 16.35%. Canada and Taiwan also demonstrated positive trends, growing by 2.42% and 5.97% respectively. Poland and Singapore experienced growth as well, at rates of 8.45% and 9.87%. Transitional growth was observed in smaller markets like Portugal and Romania, achieving 10.65% and 11.25% increments respectively. Russia and Slovenia also maintained growth, while countries like the Czech Republic saw a decline of 1.9%. Significant growth was noted in Slovakia, with figures rising by 46.41%.
Future trends of note include:
- Emerging technologies, such as AI and biotechnology, significantly influencing R&D expenditure globally.
- Increased collaboration between countries and institutions to drive innovation in healthcare.
- Varying growth patterns due to policy changes, economic conditions, and regulatory landscapes shaping the future of R&D investments.
- Potential increase in R&D spending in developing countries as they enhance their infrastructure and capabilities.
Top countries in Business Enterprise Expenditure on R&D in Medical and Health Sciences by Country
| # | 10 Countries | Million US Dollars PPP = 2015 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 4,260 | 2023 | +10.29% | +16.35% | View data |
| 2 | 2 Canada | 1,840 | 2023 | +0.63% | +2.42% | View data |
| 3 | 3 Taiwan | 1,380 | 2023 | +5.8% | +5.97% | View data |
| 4 | 4 Poland | 1,180 | 2023 | +7.87% | +8.45% | View data |
| 5 | 5 Singapore | 834.26 | 2023 | +1.72% | +9.87% | View data |
| 6 | 6 Portugal | 383.56 | 2023 | +4.26% | +10.65% | View data |
| 7 | 7 Russia | 245.53 | 2023 | +3.7% | +9.69% | View data |
| 8 | 8 Slovenia | 207.55 | 2023 | +1.41% | +2.8% | View data |
| 9 | 9 Czech Republic | 167.79 | 2023 | +0.54% | -1.9% | View data |
| 10 | 10 Hungary | 106.89 | 2023 | +5.32% | +1% | View data |
