What is the True Value of Spending on Medical Research?

Over the past four years, OHE has been involved in research intended to examine more thoroughly the economic value of medical research in the UK. Understanding and maximising the value includes consideration of both direct and indirect returns when deciding research policies. Taking account of spillovers is essential. Spillovers occur when research undertaken by any one organisation, public or private, benefits not only that organisation, but also other organisations in the medical sector, other sectors and even other countries.

Jon Sussex reviewed OHE's research on spillovers at the Cancer Research UK Symposium held on 3 February 2012.  His presentation is available for viewing below.

OHE research on this topic, listed below, is available for download free to registered users.

Buxton, M., Hanney, S., Morris, S., Sundmacher, L., Garau, M., Mestre-Ferrandiz, J., Sussex, J., Grant, J., Ismail, S., Nason, E., Wooding, S. and Kapur, S. (2008) Medical research: What’s it worth? Report for the Medical Research Council, the Wellcome Trust and the Academy of Medical Sciences. London: Office of Health Economics.

Mestre-Ferrandiz, J. and Sussex, J. (2009) Forward together: Complementarity of public and charitable research with respect to private research spending. OHE Consulting Report. London: pOffice of Health Economics.

OHE and RAND Europe. (2010) Enhancing the benefits from biomedical and health research spillovers between public, private and charitable sectors in the UK. Occasional Paper. London: Office Health Economics and RAND Europe.

Garau, M., Mordoh, A. and Sussex, J. (2011) Exploring the interdependency between public and charitable research: Report for Cancer Research UK. OHE Consulting Report. London: Office of Health Economics.

Download this presentation.

Posted in Innovation, Other Public Policy | Tagged