For several years now, the biotechnology market has been steadily showing a high growth rate. Total revenue reached its historically highest level of $139.4 billion in 2016. Expenditure on research and development increased by 12%, to $45.7 billion. Employment in biotechnology companies in the US and Europe increased to over 200,000 people, 14% more than a year before.
Revenues of industry leaders (companies generating at least 500 million USD in revenues) increased by 8% to 122.4 billion USD in 2016, which represents 88% of the revenues of the entire sector. Since 2011, the amount of revenues generated by commercial leaders has doubled from the level of 61 billion USD. At the same time, the number of companies generating the highest revenues in the US and Europe increased from 23 to 27. 2016 was also the sixth consecutive year when the total expenditure on R&D increased.
Source: Report “Biotechnology Report Beyond Borders” by EY
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