Europe’s pharmaceutical sector has grown slowly for 25 years and its share of research is shrinking. It’s time to turn things around.
The EFPIA’s recently published European Economic Impact report shows that research and development (R&D) expenditure in Europe has grown on average by 4.4 percent each year between 2010 and 2022, from €27.8 billion to €46.2 billion.
Good news? Yes and no. If we look at the wider picture, Europe’s position is clearly becoming more and more precarious against a backdrop of falling competitiveness. While global research into medicines and vaccines is growing, Europe’s share of the pie is getting smaller as the distribution of R&D shifts elsewhere.
