Health and human services remain to have the biggest chunk of the overall budget of the United States. In 2012 alone, President Obama allotted almost $900 billion dollars to ensure the health and wellness of the people of America. In comparison, NASA received less than $20 billion and the Department of Energy’s budget was just under $6 billion. If the trend is to be believed, we can expect the medical research budget to grow from year to year, with people being more concerned about their health than ever before. There is a widespread call to lead healthier lives and the main concern of the government is so raise the quality of life by giving instant access to health care and health related services. The United States has a unique ecosystem that turned it into a world leader in medical research. The National Institute of Health is the driving force behind this initiative. Separated into four, the NIH houses more than 330,000 scientists working hard in over 2,000 research institutions around the country. From the bigger pharmaceutical companies to smaller start-ups that aim to improve the quality of life, science and technology continues to work hand-in-hand to bring about advances in medicine. In the United States alone, there are over 1 million employees that work on the biopharmaceutical industry, gathering more than $140 billion worth in revenue. The next generation of drugs and devices are being tested in these industries, ensuring that they provide the best care before being launched to the public. This industry requires a huge chunk of the overall budget to ensure high quality products. Bringing one product out into the market is considered to be an uphill battle for those working in the pharmaceutical industry. It can take up to 15 years and more than $1 billion dollars in research and development fees before a product is safely released for the public to consume. From the drug discovery to the FDA review, scientists have to prove the worth of their innovation to get the research budget that they deserve. Research universities continue to gather resources from charities and helpful communities who strive to find cures for different illnesses that prove to be detrimental to health. The private sector relies on the research of these universities and some are awarded cash grants to advance the studies further. With greater concern about the lives of others, the government is expected to spend more in medical research over the coming years. There is an increase in funding given out by bigger institutions like the National Science Foundation and the Science of Science and Innovation Policy awards grants to those who present new tools for medical advancements. This trend is not only present in the United States, but it is also slowly making its way to the worldwide consciousness. From 1984 to 2013, Europe’s funding for medical research grew from 3.75 billion Euros to more than 50 billion Euros. Every year, more and more tools and information are needed to bring about change in the way we view the importance of medicine. From the simple Glutaraldehyde that’s being used to sanitize hospitals to finding the cure for cancer, humans can always find a way on how to improve the lives of others thanks to the steady rise in research funding.
|Scooped by Polysciences Inc.|