Biopharma R&D Funding Has Rebounded But Clinical Trial Starts Slowed Down in 2023, Says IQVIA Institute

Research and development (R&D) funding — which include initial public offerings (IPOs) in IQVIA’s reckoning — by biopharma companies grew to $72 billion in 2023, an 18% increase from $61 billion in 2022, although $62 billion less than $134 billion in 2020, according to the IQVIA Institute for Human Data Science “Global Trends in R&D 2024” report.