Data linked to WIPO's Global Innovation Index show global R&D spending reached $2.87 trillion in 2024, growing almost 3% a year. China became the top spender at $785.9 billion, edging past the United States at $781.8 billion. India placed 7th with $75.7 billion. Asia now accounts for about 45% of worldwide R&D spending, reflecting a shift away from Western dominance.