global recruitment specialists
Health & Life Sciences Market Overview
The pharmaceutical industry saw slow growth in 2013, fuelled by products going off patent and weaker product pipeline visibility causing companies to restructure geographically and functionally to meet business requirements. Biologics and generics businesses continued to grow, however, with new business entries and production lines sustaining overall market growth. Comparatively, the medical devices and life sciences industries had stronger growth with several mergers and acquisitions and new product launches. After seeing a massive expansion of clinical research businesses in the region due to outsourcing of early stage research in the past few years, growth in clinical research is expected to soften in the SEA region but continue to increase in North Asia. Demand for regional clinical researchers, particularly towards end stage research, will increase in the next few years as research lifecycles evolve.
The health and life sciences industry continues to see employers offering competitive salary increases to attract and retain top talent, especially within niche and specialised roles. Increases typically range between 10-18% to attract talent with critical and specialised roles seeing the higher end of the increase.
Moving forward into 2014, we foresee a somewhat cautious outlook in hiring as a dampened economy and budget cuts throughout the US, Europe and Asia reduces growth expectations. The more optimistic areas of recruitment remain within technical functional areas of medical and regulatory affairs and quality assurance. While the pilot and secondary manufacturing plants will maintain headcounts, the biologics sector will remain robust with new production facilities driving the increased demand for talent.