European R&D spend outpaced by USA – with increasing China competition

New research published by the European Federation of Pharmaceutical Industries and Associations (EFPIA) provides in-depth analysis of the economic footprint of the pharmaceutical industry in Europe, across member states and compares Europe to other regions of the world.

It shows a ‘strong and growing’ industry which contributed a total of 311 billion euros ($328 billion) to the European Union-27 economy in 2022.

The research shows that EU pharmaceutical R&D spending grew on average 4.4% per year between 2010 and 2022, from 27.8 billion euros to 46.2 billion euros.