Public vs. Private Sector R&D Investments
In 2011, National Institutes of Health (NIH)-funded discoveries contributed $69 billion to the nation’s gross domestic product (GDP) and supported seven million jobs. In 2020 alone, the US biomedical and pharmaceutical private sector generated more than $1.4 trillion in economic output. From Reece et al. (Health Affairs 2025) In addition to economic output, private-sector R&D…