R&D spending growth worldwide on pharmaceuticals 2015-2028
This statistic depicts the growth in global pharmaceutical research and development spending from 2015 to 2028. During 2022, the pharmaceutical industry expenditure on research and development actually declined some 2.2 percent. Reasons can be found in a setback after the very R&D-intense year 2021 (COVID-19), rising inflation and cost of capital, and a bear market in the biotech sector which had a negative impact especially on small companies.