VIRGINIA BEACH, Va. - June 12, 2023 - PRLog -- According to a newly released study from Schonfeld & Associates, Inc., R&D Ratios & Budgets, the pharmaceutical industry continued to be the biggest R&D investor in fiscal 2022 with budgets of drug companies increasing by 8% to $171 billion. Software companies contributed a total of over $200 billion to this investment pool.
The biggest single R&D investor in 2022 was Alphabet at over $39 billion, followed by Meta at $35 billion, and then Microsoft and Apple at over $25 billion each. Firms involved with digital content are investing much more heavily than those in more traditional arenas.
Pharmaceutical firms continued significant R&D spending in 2022. Johnson & Johnson, the top spender at $15.4 billion, is followed by Merck, Pfizer, Novartis, Astrazeneca and Bristol Myers Squibb, each spending over $9 billion. The biotech industry, led by Gilead, grew R&D by just 1% to over $35 billion. Electromedical apparatus makers, led by Medtronic, spent a total of over $3.8 billion, an increase of over ten percent.
R&D budgets of semiconductor makers grew to over $68 billion, an increase of 21.5%. Intel had the largest R&D budget, $17.5 billion, a 15% increase over 2021. R&D budgets of the industries that are major suppliers to the infrastructure of the Internet cloud continue increased R&D spending.
The 2022 R&D spending of the automotive industry, led by General Motors, Toyota, Ford and Honda each spending over $7 billion, was up over 24% from the 2021 total with industry revenues up 38%.
About the Study
R&D Ratios & Budgets contains fiscal 2021 and 2022 R&D spending, 2022 revenue and 2022 R&D intensity ratio, as well as annual growth rates in R&D spending and sales for over 2,800 firms. Over 280 industry summaries of the same information are provided. The study reports for each company a low and high value for the R&D-to-sales ratio (also known as R&D intensity) for the last five years to indicate stability of R&D spending.
R&D Ratios & Budgets is used for budget planning, monitoring competition, identifying joint venture partners, and spotting acquisition candidates.
The 2023 edition of the PDF report is $ 395 and the report along with Excel datafiles is $ 495. Contact Schonfeld & Associates, Inc., 1932 Terramar Lane, Virginia Beach, VA 23456. Call for more information: 800-205-0030 or visit the company's web site for immediate download at www.saiBooks.com under Area of Expertise: Research & Development Spending.
Carol J. Greenhut
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