Tremendous growth potential in the US biopharma and life sciences market

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The US as the biggest spender on healthcare in the world   

 

High-income nations, such as the United States, typically allocate a greater amount of expenditure per individual towards healthcare and associated costs compared to lower-income nations. Nevertheless, even among affluent countries, the United States stands out by significantly surpassing others in terms of per capita healthcare spending, according to the Peterson-KFF Health System Tracker. In 2021, the National Health Expenditure (NHE) in the United States reached almost four trillion euro, accounting for 18.3 percent of the gross domestic product (GDP). Due to the country’s significant spending from both public and private sources, the healthcare sector has become financially advantageous for private enterprises. Consequently, major pharmaceutical corporations find themselves in a favorable position to expand their operations, drive advancements in medical research, and create innovative treatments.