Biotechnology and pharmaceutical firms are dominating the outsourcing scene in Europe and have a control over nearly one fourth of sub contracting activity within European Union. This was revealed by a survey conducted and around 449 companies participated in it. These companies would be increasing their global investments in R&D by 5% per annum for the next three years.
This shows that pharmaceuticals, chemicals and biotechnology account for more than half of the total research and development investment of the companies. Companies both small and big are accepting it and are using outsourcing as a tool to supplement their efforts and utilize technologies which they cannot afford.
The survey also states that companies are still preferring to locate their R&D in their home country. The survey has also highlighted the major factors which go into while deciding where R&D is to be located and availability of researchers.
