The production of scientific R&D in the US has shown a significant upward trend from 2013 to 2023, with 2023's value standing at $320.59 billion USD. The trend experienced a temporary decline in 2020 (-16.4%) but rebounded strongly in subsequent years. Notably, the sector exhibited impressive growth from 2017 to 2019, followed by stable yet moderate growth in 2021 and 2022. By 2023, the production had increased by 3.01% year-on-year with a five-year CAGR of 4.12%

Future trends to watch:

Continued moderate growth with a forecasted 5-year CAGR of 2.24% from 2024 to 2028.
Anticipated innovations and advancements in technology which may drive further investment in R&D.
Potential impact of emerging markets and global collaborations on the US R&D landscape.