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Life Sciences Funding in Europe (2007)Published by: Frost & Sullivan Published: Mar. 1, 2008 - 88 Pages Table of Contents
AbstractThis Frost & Sullivan research service titled Life Sciences Funding in Europe (2007) provides an overview of funding challenges, initiatives taken to overcome them and key policies implemented, including developments in the framework programme funded by the European Commission. Funding volumes of various public, private and charity organisations in the major EU nations and their impact on the R&D quality have been analysed. In this research, Frost & Sullivan's expert analysts thoroughly examine life sciences research markets in the United Kingdom, Germany, France, Italy and Spain.Support from the European Commission and Countries Strong in Life Sciences Research Provide Fillip to Funding Inflows Funding for research in life sciences across Europe has been gaining importance in recent years. However, the productivity of life sciences research in Europe still lags behind the United States, with comprehensive measures having been implemented to improve the quality of Europe’s research base. The lack of funding for late-stage development and commercialisation has been responsible for the limited productivity in the small and medium enterprise (SME) sectors. With the industry’s focus shifting towards biological drugs, Europe is according top priority to investing in R&D. However, major pharmaceutical and biotech companies continue to shift their R&D base to the United States. This trend has slowed down the development of life sciences research in Europe. Weak tax incentive schemes for private investment in R&D companies have been identified as the main reason for several companies preferring to base their operations in the United States. Accordingly, tax incentives in major EU nations are being revised to encourage R&D. "European life sciences funding is rising at a healthy pace, driven mainly by the commitment of the European Commission and research-performing nations to boost R&D productivity," notes the analyst of this research. "In addition to the support from major EU nations, these positive trends are being buttressed by the framework programmes for financing R&D in universities and SMEs". The European Commission has started the seventh Framework Programme (FP7), which offers increased funding and wider objectives. FP7 is the next step in realising the objectives set in the Lisbon strategy. It provides funding for life sciences through the ‘Health theme’, which aims at increasing Europe’s competitiveness. At the same time, the establishment of ERC offers enhanced support for basic research in life sciences. The European Commission has promised to augment the financial support for SMEs in the life sciences industry. Lack of Cohesion Looms as a Major Threat to Market Development The European funding landscape is highly fragmented. While several public, private and charity bodies contribute to funding research, the goals and objectives vary among organisations, making it difficult to maximise on results. "With varying policies across Europe, there is a risk of replication and hence, a wastage of money and effort," explains the analyst of this research. "At the moment, there is not enough communication across the EU to promote a coordinated effort towards achieving research goals." Moreover, EU-backed initiatives cover projects that are too large to manage and coordinate among the large number of participating countries. Europe needs to streamline its research policies and goals to optimise on the output of R&D in life sciences. Funding made available for SMEs and other individual projects have to be enhanced in size to support late-stage development phases. Get Full Details About This Report >> |
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