Europe continues to be a powerhouse of science and innovation. The region maintains a clear lead over China, the United States, and the rest of the world in terms of the quality and quantity of its science. For example, Europe is home to 43 of the global top 100 life-science universities, while the United States has 34. Europe is a powerhouse in scientific publishing as well, with roughly twice the output of the United States and three times that of China.
Europe also leads in terms of quality, as measured by the number of citations for its publications. More than 40,000 biotech patents have been granted in Europe since 2015, although the region’s 3 percent CAGR in patent approvals between 2015 and 2019 lagged behind that of the United States (4 percent) and was a fraction of China’s (14 percent).
Despite Europe’s strength in science and innovation, translation remains the biggest challenge. Translation of science into companies is stagnant. The distribution of newly funded biotechs remains unchanged across geographies over the last six years, and Europe accounts for only 25 percent of new biotechs. Future success will depend on improving the translation of research into new companies, raising more capital, and building entrepreneurial talent.
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