In 2023, Japan led global private non-profit R&D expenditure in medical and health sciences, with substantial figures. Italy and South Korea followed, exhibiting strong growth trends. Canada, Spain, and Finland, although trailing, showed moderate positive variation. Russia and Poland displayed notable expenditure growth, whereas Chile and Taiwan experienced declines. Israel's significant drop is noteworthy, while the Czech Republic and Romania showed sharp increases in percentage terms. Slovakia faced a steep decline. Over the past five years, compound annual growth rates (CAGR) reflected these trends, highlighting persistent investment particularly in Asia and parts of Europe.
Future trends to watch include the potential for increased investment in Asian markets and emerging European countries like the Czech Republic and Romania. Factors such as technological advancement, governmental support, and collaboration among organizations will be crucial in shaping future spending dynamics in global medical and health R&D.
Top countries in Private Non-Profit 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 Japan | 650.03 | 2023 | +1.49% | +5.99% | View data |
| 2 | 2 Italy | 494.03 | 2023 | +1.73% | +7.4% | View data |
| 3 | 3 South Korea | 474.46 | 2023 | +5.08% | +16.51% | View data |
| 4 | 4 Canada | 56.03 | 2023 | -2.99% | +3.84% | View data |
| 5 | 5 Spain | 55.73 | 2023 | +2.35% | +4.69% | View data |
| 6 | 6 Finland | 32.77 | 2023 | +1.26% | +2.52% | View data |
| 7 | 7 Russia | 20.28 | 2023 | +6.32% | +26.74% | View data |
| 8 | 8 Portugal | 18.32 | 2023 | +4.88% | +5.82% | View data |
| 9 | 9 Chile | 14.35 | 2023 | +0.77% | -3.04% | View data |
| 10 | 10 Taiwan | 6.48 | 2023 | -6.57% | -2.56% | View data |
