Biotechnology R&D intensity in Belgium’s business sector has shown varied trends over the past decade. In 2023, the level stood at 34.84 Unit of BERD. After notable fluctuations, including a peak in 2021 at 35.71, growth rates stabilized with slight decreases in 2022 followed by a modest growth of 0.85% in 2023. From 2013 to 2019, the CAGR varied from 2.66% to 6.21%, indicating periods of robust growth. The last five years showed an average annual growth of 1.61%, displaying a modest increase over time, consistent with the forecast through 2028 at 0.33% CAGR.
Future trends to watch for:
• Increased public and private investment in biotechnology.• Potential impacts of regulatory changes and policy support.• Technological advancements and breakthrough innovations driving R&D intensity.
