Returns on NHMRC funded Research and Development – Deloitte Access Economics – 17 October 2011

Posted on November 1, 2011. Filed under: Health Economics, Research | Tags: , |

Returns on NHMRC funded Research and Development – Deloitte Access Economics – 17 October 2011

For the Australian Society for Medical Research

Extract from the Executive summary

“Almost two-thirds of the projected increase in Australian government spending to 2049-50 is expected to be on health (Commonwealth Government, 2010). Total health and residential aged care expenditure is projected to increase by 189% in the period 2003 to 2033 from $85 billion to $246 billion – an increase from 9.3% of gross domestic product (GDP) to 12.4% in 2032–33 (Goss, 2008). Moreover, disease and injury presents a socioeconomic burden from loss of longevity and quality of life for individuals and the community.

Investment in increasingly effective and efficient technologies has the potential to ameliorate some of this projected increase in health burden in Australia. In 2009, the NHMRC invested approximately $711 million on health research and development (R&D), equivalent to 0.23% of GDP, targeted in particular to diseases which pose a significant health burden to Australia.

This study estimates the economic benefits to Australian society of the NHMRC’s contribution to health and medical research, by estimating wellbeing gains for specific diseases, namely cardiovascular disease (CVD, including stroke), cancer, sudden infant death syndrome (SIDS), asthma and muscular dystrophy (MD). These diseases collectively comprise approximately 40% of the total burden of disease in Australia (Begg et al, 2007), representing a significant health burden on Australian society and the health system. This study estimates the impacts of NHMRC funded R&D for these diseases between the years 2000 and 2010 on projected gains in health system expenditures, productivity gains and commercial returns for each disease in the years 2040-2050.”

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