CareerWise see higher demand for key skills within the Life Science sector
Following the end of the first quarter in 2016, statistics show that Ireland continues on a positive downward trend with unemployment currently standing at 8.6%. This is a 9.8% improvement from March 2015. One of the areas increasing employment is Life Science sector.
CareerWise has seen a steady and growing demand within the Life Science area with vacancies increasing by 33% measured against the same period of time in 2015. These are mainly within the Medical, Pharma, BioTech and Generics. It is expected this trend will continue with ageing population and rising consumer wealth are all expected to boost healthcare spending and the demand for healthcare products. This increase will mean a higher demand for key skills within the Life Science sector.
What Factors are driving this demand?
- Aging Population – The combination of population aging and increased life expectancy, by 2019 it is estimated 604 million will be 65 years plus nearly 11% of total global population.
- The rise of Chronic Diseases
- Vaccines drugs – Biotech – the majority of the top 10 pharma products by sales are biotech drugs treating, rheumatoid arthritis, Hepatitis C, Cancer. Sales estimated to increase from $289 Billion (2014) to $445 Billon in 2019.
- Expensive treatments developed, which is leading to increased government pharma spend
- Demand for generic drugs continue to rise as governments pursue avenues to reduce costs on the local tax payers – Generic spend has increased from $261 Billion in 2012 to $421 Billion by 2017.
- Ireland is perfectly positioned to benefit from this growth area as we have some of the key employers manufacturing in Ireland such as Genzyme, MSD, GSK, Novartis, Depuy, Vistakon, Roche, Stryker, Depuy, BioMarin, Regeneron, Alexion, Jazz to name a few from the Life Science Sector. However, there are some areas we need to improve in;
- Ireland needs to remain a model of significant investment, for example our near neighbours in the UK invest significantly in the BioTech sector.
- Ireland needs to remain tax competitive within the European Union.
- We need to start attracting more people back to Ireland whom have emigrated during the recession period..
- Develop more suitable courses within the third level institutions both at CIT and University level which are targeted towards Life Science vacancies.
- Maintain a focused approach (priority) to key subjects at secondary level such as Maths, Biology, Physics etc.
- Encouragement for students to take up science subjects to a higher level.
The challenge now for companies is to be effective and efficient with recruitment as companies are competing for the same talent.
What CareerWise can offer companies and candidates in the Life Science Sector;
Article by Mike Morrissy (Director, CareerWise Recruitment)
- A proven track record in dealing with key organisations based through out Ireland.
- CareerWise focus on attracting talent back to Ireland.
- Smart use of social media – National Recruitment Federation winner 2015 “Best Agency Online”.
- We are expert recruiters within the Life Science Sector.
- CareerWise is an active member within the INRALS (International Network of Recruitment Agencies in Life Science) – partnerships with agencies outside of Ireland.
- Job board usage across multiple platforms.
- Expertise with internet sourcing tools to attract people whom are passive candidates in the market place.
- Assistance with current market values to attract top candidates.
- Offering relevant market expertise to both clients and candidates alike.
- Process streamlining (reduction time spent by companies reviewing, shortlisting and pre-screening candidates).