Healthcare & Life Sciences Market Update

The US economy has significantly picked up since recession which has generated jobs and the need for talent. Candidates are opportunistic and technical profiles are highly demanded on the market today – as well as medical doctors with a niche therapeutic area knowledge, pharmacovigilance professionals, pharmacology and biostatistics people. On the commercial side, there is a high demand for health economics outcomes research people, which is a fairly new discipline that becomes vital for product commercialisation. 

Flexibility is what counts a lot when attracting high level talents.  Home office, remote management with less frequent commutes to the office are options people are increasingly looking for. If companies are willing to give these options to senior level candidates while not limiting their career development, it would go some way to attract and retain people.  

On the candidate side, specialisation and consistency is highly beneficial; being niche is more valuable than being a generalist. Due to the nature of the life sciences business, there is always a demand for all the functions involved in drug or device development life cycle. 

Big pharmaceutical companies have reached the stage of patent expirations for big blockbusters and they struggle to bring new ones to the market. This has led to reorganisations, mergers and major change which affect people within these organisations. As a consequence, some people tend to be attracted to smaller organisations which allow them to be closer to the business and work on more specialised products, although there is still a large number of people that enjoy being part of  a major company.

Innovation is what counts on the market today. This is what attracts candidates, investors and governmental bodies. The medical device market is picking up immensely and in the upcoming year this is what will drive the market and the economy more and more. Biotechnology and pharmaceutical markets will also remain an important part of the business; however, it will have to deal with the challenges of strict government regulations and demanding payers. 

If you’re looking for new opportunities or need top talent for your organisation, get in touch to find out more about our healthcare and life sciences recruitment in the US.