US spending on medical research falls as Asian spending rise

The US News & World Report (1/3, Bidwell) reports on the declining US spending on medical research, saying at one point of time it “accounted for more than three-quarters of the world’s research spending” but now continues to decline over the past few years, “while countries in Asia saw a dramatic increase.” A study published Wednesday in the New England Journal of Medicine said the US “comprised 51 percent of global research spending, at $131 billion in 2007;” however, by 2012, that amount fell to $119 billion, or 45 percent of the global spending. Japan boosted its spending by $9 billion while China hiked its spending by $6.4 billion during the same time. The article notes that though the NIH has witnessed major funding cuts since 2003, the study leaders found the US’ decline in research spending “was almost entirely driven by reduced investment from the private sector.”