Percentage of global R&D spending, by industry 2021
In 2021, the highest share of research and development spending (R&D) was made within the software technology producing industry, accounting for a total of nearly 20 percent of the global R&D spending. The health sector followed in second at nearly 17 percent, whereas the hardware producing industry made the third highest share of spending. In total, global R&D spending reached 2.3 trillion U.S. dollars in 2021.
Health industry and COVID-19
The high share spent by the health industry must be seen in relation with the COVID-19 pandemic that started spreading in late 2019 and caused deaths, lockdowns, and restrictions throughout 2020 and onwards. As governments and pharmaceutical companies sought to find an efficient vaccine against the virus, investment in research continued to increase. However, regardless of the pandemic, R&D spending within health care is essential in order to combat a variety of diseases, from small pox via malaria to cancer.
Health industry and COVID-19
The high share spent by the health industry must be seen in relation with the COVID-19 pandemic that started spreading in late 2019 and caused deaths, lockdowns, and restrictions throughout 2020 and onwards. As governments and pharmaceutical companies sought to find an efficient vaccine against the virus, investment in research continued to increase. However, regardless of the pandemic, R&D spending within health care is essential in order to combat a variety of diseases, from small pox via malaria to cancer.
