The production value of biotechnology research and experimental development in Spain has shown significant growth from 2013 to 2023, reaching 1,220 million euros in 2023. Over recent years, year-on-year growth has fluctuated with a peak of 28.28% in 2015 and a slight deceleration to 10.73% in 2023. The compound annual growth rate (CAGR) over the last five years stands at 14.63%, indicating strong and consistent growth in this sector.
Future trends to watch for include continued advancements in biotechnology research, increasing investment in experimental development, and the impact of regulatory changes. Forecasts suggest a modest CAGR of 6.14% from 2024 to 2028, with an overall growth rate of 34.71% over these five years, suggesting a stable but slowing growth trajectory.
