In Europe, an average of 10% of gross domestic product is spent on healthcare.
Medical technology is constantly growing and pharmaceutical companies continue to invest in innovations, so they can deliver the best medical devices and solutions. The life sciences industry is an ever-evolving landscape. Businesses face pressure from all directions to remain competitive and relevant.
As a result of new technologies, healthcare professionals are adopting new ways to tackle diseases and contribute to the global quality of life. The future of life sciences will be defined by a range of technology, such as smart data, machine learning and 3D printing.
In this digital era, healthcare professionals need to be able to identify solutions from data, so it’s important they continue to develop their skills in human research. There are many challenges in the sector but with new advancements, pharmaceuticals are well-equipped to face them and continue to thrive.
Each life sciences firm needs specialised and bespoke talent solutions.
Whether small scale or highly established, all firms need these to retain a diverse workforce that can keep innovation targets high. We partner with biotech firms internationally to identify and select senior professionals to operate in all departments, from financial professionals to engineers and technology leaders.
Our three specialist areas are:
- Medical Devices
In the coming years, the global biotechnology market is expected to reach 780 billion USD. There’s a range of biotech products that are driving this growth, such as artificial intelligence and regenerative medicine. Biotech products are also being pushed by the increase of pathologies like cancer and diabetes, as healthcare professionals continue to seek solutions to tackle these diseases. The growth of the market is improving healthcare in remote areas and R&D research has become a key focus in the industry.
Biotech provides a platform of opportunities for organisations and people and careers, including in medicine and agriculture. The biotech market is expected to be valued at 775.2 billion USD by 2024, which will illustrate an annual growth of 9.9 percent. The industry is currently booming in China and general Asia with a surge of investment being made into new medicine. Europe’s biotech industry is also at the forefront of innovation with progress being made in research and development. Half of Biotech companies in Europe are located in France, UK and Germany. Benelux is a key player in the European biotech industry and could become an industry leader. In Europe, the focus is on immunotherapies, brain and neuronal therapies, as well as vaccines. While the US is leading the way in Biotech, Europe has significant funding and continues to grow every year.
The global pharmaceutical market has experienced huge growth in recent years and it had revenues of 1.25 trillion USD in 2019.Healthcare technology, speciality medicine and an ageing population have been key factors in the growth of the market. The US is the biggest market for pharmaceuticals products. As a result of the pandemic, many pharmaceuticals have been forced to identify new treatments and vaccinations.
The pharmaceutical industry is expected to reach 1.5 trillion USD by 2023.The contract development market will continue to grow substantially in the years to come. Artificial intelligence and robotics have paved the way for much more efficient and cost-effective treatment solutions. As new drugs are approved, there will no doubt be competition from China where the market is booming. The drugs and treatments are approved faster in Asia, which will help expand the market globally.
The medical devices market has reached nearly 500 billion USD in 2019-2020. New technologies are saving more lives and creating further business and investment opportunities.
The landscape is changing due to new regulations, so companies need to adapt and make sure they’re compliant. There’s also massive funding for new start-ups and with large corporations.