Biotech company R&D expenditure by country and by application 2014
This statistic shows the research and development spending of dedicated biotechnology companies in selected countries for 2014 (or latest year available), by application. In that year, biotechnology companies in Italy spent 89.6 percent of their research and development expenditures on health applications.
Biotech R&D expenditure
Many countries spend a significant portion of their biotechnology R&D expenditures on the health industry, while the agricultural sector often garners the next largest portion of expenditures. In Germany, the health sector contributed to 82.3 percent of biotechnology R&D expenditures and 1.4 percent of spending was under the agricultural sector in 2015. As of 2012, the United States was the largest biotechnology region in the world, generating 65.5 billion U.S. dollars in revenue from the industry.
Biotechnology uses the processes of living organisms to develop or modify products for a large variety of applications. In the health sector, biotechnology has enabled pharmacogenomics, which allows for the analysis of responses to medications based on an individual’s genetics. Using biotechnology to produce pharmaceutical products is also common worldwide. Sanofi’s biotech treatment for hypercholesterolemia, Alirocumab, was released in 2015 and is expected to generate 2.18 billion U.S. dollars in global sales by 2020.
Currently, the biotech drug Humira, is one of the world’s best-selling drugs. In 2015, AbbVie generated 14 billion U.S. dollars from its revenue.
Biotech R&D expenditure
Many countries spend a significant portion of their biotechnology R&D expenditures on the health industry, while the agricultural sector often garners the next largest portion of expenditures. In Germany, the health sector contributed to 82.3 percent of biotechnology R&D expenditures and 1.4 percent of spending was under the agricultural sector in 2015. As of 2012, the United States was the largest biotechnology region in the world, generating 65.5 billion U.S. dollars in revenue from the industry.
Biotechnology uses the processes of living organisms to develop or modify products for a large variety of applications. In the health sector, biotechnology has enabled pharmacogenomics, which allows for the analysis of responses to medications based on an individual’s genetics. Using biotechnology to produce pharmaceutical products is also common worldwide. Sanofi’s biotech treatment for hypercholesterolemia, Alirocumab, was released in 2015 and is expected to generate 2.18 billion U.S. dollars in global sales by 2020.
Currently, the biotech drug Humira, is one of the world’s best-selling drugs. In 2015, AbbVie generated 14 billion U.S. dollars from its revenue.
