The U.S. government is the largest funder of global health research and development in the world says a recent report brought out by the Global Health Technologies Coalition (GHTC) and Policy Cures, United Press International reports. The main findings of the report titled “Saving Lives and Creating Impact: Why investing in global health research works”, are:
- The US Government contributes around 45% of the total investment in global health R&D each year.
- Over the past 10 years, the US Government spent $12.7 billion on in global health R&D.
- The US Government is the leading funder of R&D for 26 of the 30 most neglected diseases and conditions affecting the developing world. These include HIV/AIDS, TB, malaria, diarrheal diseases, sleeping sickness, dengue fever, parasitic worms, and contraceptive technologies.
UPI reports, “The U.S. funding helped lead to the development of more than half of the 45 new health products — including vaccines, drugs, diagnostics — in the last decade that have been used to save lives around the world,”.
These rends will have a positive impact on the laboratory equipment market. Spending on R&D is one of the key drivers of the expansion in the demand for lab equipment by research institutions, the government and private organizations.