Small and medium-sized enterprises (SMEs) saw a 33% increase in the success rate for their marketing authorisation applications in 2023, according to a new report by the European Medicines Agency. SMEs are broadly defined as companies with a staff headcount of between 10 and 250 people and a turnover ranging from less than €2 million to up to €50 million. Despite their small size, they represent the backbone of the European life science industry with activity in nine distinctive sectors. There were 1,925 registered SMEs on 31 December 2023.
