Government Funding For Medical Research

In modern society, governments in both developed and developing countries contribute financial resources to various forms of research and development (R&D). This type of investment assists society to function more effectively, because of inventions and innovations in many sectors, such as health, education, technology and science. In this way, social growth is encouraged at both a national and international level, which further supports improved business and commercial expansion. Based on this, it can be understood that government funding promotes scientific exploration of new ideas and processes that can advance the standard of living around the world. Therefore, it is argued that government funding for research benefits society. This will be examined with reference to the way government funding for medical research aids society, and scientific production on technology.

Government funding for medical research aids society. This is because financial investment in research and development (R&D) in various areas of healthcare supports the medical system, medical professionals and citizens due to improved diagnosis and treatment. In particular, government funding for pharmaceutical research contributes to social well-being. Research conducted in China for decade 2002-2012 (Qui et al. 2014, p.3) shows that the increase in funding by both public and private groups has contributed to an expansion of the pharmaceutical industry across three sectors: chemical, traditional Chinese, and bio- pharmaceutical medicines. According to the detailed analysis of government statistical data(Qui et al 2014,p.5), Chinese government spending on medical research has been targeted on specific provinces which produce botanical resources, which are in...

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...novation a new technical things for benefit the society in future.

Refrences

Allaoui, S & Beaudry, C 2012, 'Impact of public and private research funding on scientific production: the case of nanotechnology ', Research Policy, vol. 41, no. 9, pp. 1589-1606.

Choi, J-Y, Lee J-H, & Sohn S-Y 2009, 'Impact analysis for national R&D funding in science and technology using quantification method II ', Research Policy, vol. 38, no. 10, pp. 1534-1544.

Murphy, KM, & Topel, RH 2003, 'The economic value of medical research ', in KM Murphy & RH Topel (eds), Measuring the gains from medical research: an economic approach, University of Chicago Press, Chicago, pp. 41-73.

Qiu, L, Chen, Z-Y, Lu, D-Y, Hu, H & Wang, Y-T 2010, 'Public funding and private investment for R&D : a survey in China’s pharmaceutical industry ', Health Research Policy and Systems, vol. 12, no. 27, pp. 11