In 2023, Germany leads global government expenditure on R&D in medical and health sciences with $3.36 billion (PPP), showing an impressive 11.27% year-on-year growth. Japan follows at $2.09 billion with a 7.7% increase. Spain, Italy, and Taiwan also show solid growth rates exceeding 5%. While the United Kingdom saw a notable decline of 14.2%, other European countries like Slovakia and Iceland experienced significant increases of over 10%. The compound annual growth rate (CAGR) is a crucial metric, reflecting overall growth consistency over the past five years.
Future trends to watch include the impact of geopolitical shifts and economic conditions on government budgets, technological advancements influencing R&D focus, and international collaborations driving shared innovations. Monitoring these factors will provide insights into future opportunities and challenges for global R&D funding in the medical and health sciences sector.
Top countries in Government Expenditure on R&D in Medical and Health Sciences by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 3,360 | 2023 | +11.88% | +11.27% | View data |
| 2 | 2 Japan | 2,090 | 2023 | +6.58% | +7.7% | View data |
| 3 | 3 Spain | 1,760 | 2023 | +3.87% | +5.15% | View data |
| 4 | 4 Russia | 1,440 | 2023 | +3.01% | +2.58% | View data |
| 5 | 5 Italy | 1,380 | 2023 | +4.14% | +5.78% | View data |
| 6 | 6 Taiwan | 1,130 | 2023 | +2.19% | +2.54% | View data |
| 7 | 7 Singapore | 549.2 | 2023 | +6.14% | +8% | View data |
| 8 | 8 South Korea | 452.32 | 2023 | +8.77% | +3.65% | View data |
| 9 | 9 Norway | 229.46 | 2023 | +3.51% | +4.1% | View data |
| 10 | 10 Portugal | 115.76 | 2023 | +2.02% | +5.02% | View data |
