Navigation Links
US global share of research spending declines
Date:1/1/2014

ANN ARBOR, Mich. The United States' global share of biomedical research spending fell from 51 percent in 2007 to 45 percent in 2012, while Japan and China saw dramatic increases in research spending.

The research and development spending in the United States dropped from $131 billion to $119 billion, when adjusted for inflation, from 2007-2012, while Japan increased spending by $9 billion and China increased by $6.4 billion. Overall, Asia's share of spending grew from 18 percent to 24 percent. Europe held steady at 29 percent.

Prior analyses have suggested the United States' share of global expenditures were once as high as 80 percent.

Results of this new analysis, conducted by researchers from industry and academia, including both medical researchers and economists, appear in the Jan. 2 New England Journal of Medicine.

"The United States has long been a world leader in driving research and development in the biomedical science. It's important to maintain that leadership role because biomedical research has a number of long term downstream economic benefits, especially around job creation," says study author Reshma Jagsi, M.D., D.Phil., associate professor of radiation oncology at the University of Michigan Health System.

Despite reductions in funding from the National Institutes of Health, including a 20 percent drop in purchasing power since 2003, the researchers discovered that the United States' decline was driven almost entirely by reduced investment from industry, not the public sector. This includes support for clinical trials testing potential new therapies.

Jagsi suggests that this may boil down to fewer regulations and less expense to conduct research in Asia labor costs less, government may be offering subsidies and the research infrastructure is not as bureaucratic as it is in the United States.

"We were surprised the impact of industry funding was that dramatic, but it's key to note that government funding is equally important to maintain or grow. Research funded through the National Institutes of Health helps scientists understand how diseases work this will happen slower as NIH funding continues to be cut," says study author Justin Chakma, a venture capital investor with Thomas, McNerney & Partners in La Jolla, Calif.

Historically, about half of drugs approved by the U.S. Food and Drug Administration had some federal government funding during the course of the research and development.

The authors note the critical need for increased NIH funding coupled with incentives to industry for investing in biomedical research and development here. They call the lack of a coordinated national biomedical R&D strategy "disappointing."


'/>"/>

Contact: Nicole Fawcett
nfawcett@umich.edu
734-764-2220
University of Michigan Health System
Source:Eurekalert  

Related medicine news :

1. Global Food Exchange Welcomes D. Scott Robinson and Duane Reed
2. Global Food Exchange™ Welcomes Joe Ignat
3. Contract Research Organization WCCT Global Announced the Philippines Typhoon Relief Initiative Raised over $15,000 by Clinical Trial Participation
4. Aequor Technologies Awarded Managed Services Contract to Provide Hardware Configuration and Deployment for Global Pharmaceutical Corporation
5. Juicing Radio Launches a Global First With New Year’s Juicing Podcasts
6. Global Breath Analyzers Market is Expected to Reach USD 4.5 Billion in 2019: Transparency Market Research
7. Contract Research Organization WCCT Global Announces Milestone for Clinical Study Completion
8. Global and China Monoclonal Antibody Industry Report 2013 Analysis and 2017 Market Focus by Researchmoz.us
9. Global Hernia Repair Devices Market is Expected to Reach USD5.9 Billion in 2019: Transparency Market Research
10. Global Healthcare Cold Chain Logistics Market Report & Forecast (2013-2018)
11. BCC Research Publishes a New Report on Global In Vitro Toxicity Testing Market
Post Your Comments:
*Name:
*Comment:
*Email:
Related Image:
US global share of research spending declines
(Date:6/24/2016)... ... , ... Global law firm Greenberg Traurig, P.A. announced that 20 Florida attorneys ... peers for this recognition are considered among the top 2 percent of lawyers practicing ... members of this year’s Legal Elite Hall of Fame: Miami Shareholders Mark D. ...
(Date:6/24/2016)... ... June 24, 2016 , ... Comfort Keepers® of San Diego, CA ... the Road To Recovery® program to drive cancer patients to and from their cancer ... ensure the highest quality of life and ongoing independence. Getting to and from ...
(Date:6/24/2016)... TX (PRWEB) , ... June 24, 2016 , ... People ... part in Genome magazine’s Code Talker Award, an essay contest in which patients and ... an award to be presented at the 2016 National Society of Genetic Counselors (NSGC) ...
(Date:6/24/2016)... ... 24, 2016 , ... The Haute Beauty Network, affiliated with ... as a prominent plastic surgeon and the network’s newest partner. , Dr. ... handsome men, look naturally attractive. Plastic surgery should be invisible.” He stands by ...
(Date:6/24/2016)... Maryland (PRWEB) , ... June 24, 2016 , ... ... Angels is actively feeding the Frederick area economy by obtaining investment capital for ... over the past 2½ years that have already resulted in more than a ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... OTTAWA, Ontario , June 27, 2016  VMS ... the Company,s Board will take whatever measures required to ... the Company,s stock which is currently listed on the ... S Wexler, Company Chairman and CEO, "We are seeing ... be difficult to understand, not only by the Company, ...
(Date:6/24/2016)... June 24, 2016  Global Blood Therapeutics, Inc. (GBT) ... developing novel therapeutics for the treatment of grievous ... the closing of its previously announced underwritten public ... the public offering price of $18.75 per share. ... offered by GBT. GBT estimates net proceeds from ...
(Date:6/24/2016)... Va. , June 24, 2016 The ... set of recommendations that would allow biopharmaceutical ... (HCEI) with entities that make formulary and coverage decisions, ... the "value" of new medicines. The recommendations ... does not appear on the drug label, a prohibition ...
Breaking Medicine Technology: