With a large proportion of the world's production, research and development activities located there, Europe is the global leader in vaccine production. The following infographic is based on Vaccines Europe data and it shows that Europe currently accounts for 76 percent of global production with North American following with 13 percent. Some 1.7 billion vaccines are produced in Europe every year and the industry invests 16 percent of its revenue back into research and development. By comparison, that figure stands at 8.4 percent in software and computing and 2.6 in the chemical sector.
Europe is well positioned to develop a vaccine against COVID-19 and President Trump recently tried to financially entice German scientists from thebiopharmaceutical company Curevac, who are working on a corona vaccine, to supply their treatment exclusively to the United States. However, the main owner of Curevac, German billionaire Dietmar Hopp, rejected these those lucrative advances.