Communications of the ACM
R&d Spending to Continue Climbing
Credit: blogs.learnc.org
The United States, Europe, and Asia are expected to boost spending on research and development (R&D) a combined 5.2 percent to $14 trillion in 2012, according to a Battelle Memorial Institute report.
The U.S. is projected to increase R&D spending 2.1 percent to $436 billion next year, while in Europe R&D is expected to grow 3.5 percent to $338.1 billion, and Asia's R&D spending should increase 8.6 percent to $514.4 billion.
The report says that the United States will remain the most dominant country in terms of R&D, but notes that China and Japan continue to quickly gain ground. "Asian economies are continuing to grow, which gives them resources to invest in R&D efforts," says Battelle's Martin Grueber.
Based on projected R&D growth rates for China and the U.S., China's level of annual R&D spending is expected to surpass that of the U.S. in about a decade, the report says. However, the U.S. currently is the R&D leader by a significant margin.
One major issue for U.S. R&D is the pharmaceutical industry, which is expected to make major R&D cuts in the next year. "The retrenchment of pharma's conventional model has created significant R&D opportunities for universities, nonprofits, and the government," the report says.
From Wall Street Journal
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Abstracts Copyright © 2011 Information Inc. 
, Bethesda, Maryland, USA
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