Duke University is a private research university located in Durham, North Carolina, United States. Around 15,000 students currently study at the university, which was established in 1924. In the 2014 fiscal year, the university’s research expenditure was USD 1.037 billion, the seventh largest in North America. Its key research strengths are in the fields of oncology and cancer biology, biomedical engineering, and applied economics. Major research breakthroughs include the first real-time 3D ultrasound diagnostic systems and the first engineered blood vessels and stents.