Industry Profile: Global Health & Healthcare

Learn more about our allied health focus!

Industry Profile: Global Health & Healthcare

By Nicole Leinders | April 11, 2019

You’ve heard it before: People are living longer. Thanks to advances in technology and medicine, our longevity – and quality of life – have increased. According to a study published in The Lancet, an international medical journal, it is projected that global life expectancy will increase an average of 4.4 years by 2040. And, 59 countries are predicted to have a life expectancy of at least 80 years old by then.

Trends

This means the healthcare workforce should expect to see an increase in demand for their services. In fact, the World Economic Forum’s “The Future of Jobs Report 2018,” lists the No. 1 trend driving health industry growth is “increasingly ageing societies.” Other economic and technology factors, like advances in artificial intelligence (AI), expansion of affluence in developing economies, expansion of the middle class and increasing adoption of new technology round out the top five trends driving healthcare industry growth.

The top 10 technologies the health industry is adopting are as follows:

  • User and entity big data analytics (87% of companies surveyed)
  • Biotechnology (87%)
  • Machine learning (80%)
  • App- and web-enabled markets (80%)
  • Wearable electronics (73%)
  • Cloud computing (73%)
  • Internet of things (67%)
  • Encryption (67%)
  • Distributed ledger (blockchain) (67%)
  • Augmented and virtual reality (67%)

Barriers to adopting new technologies include not understanding opportunities (80% of companies surveyed), skills gaps in leadership (73 %) and skills gaps in the local labor market (60%).

Projected adaption partners are reported equally as being professional services firms (93% of companies surveyed) and specialized departments in the firm (93%).

Impact

The expected impact of the trends putting pressure on the health industry overwhelmingly show modifications of locations of operation (73% of companies surveyed) and modifications to the value chain (67%).

In terms of the impact on the healthcare workforce, interestingly, 47% of companies expect a reduction in their healthcare workforce due to automation and 20% expect to expand their workforce due to automation. Twenty-seven percent report they’ll expand their healthcare workforce in general (not necessarily due to automation) and 33% report they plan to expand task-specialized contractors.

The biggest augmentation of key job tasks by 2022 will be in performing complex and technical activities. In 2018, machines were completing 26% of the task hours associated with these functions; by 2022, it’s expected to increase to 39%.

Roles expected to emerge in the health industry through 2022 include:

  • Data analysts and scientists
  • Biologists and geneticists
  • AI and machine learning specialists
  • Information technology services
  • Environmental and occupational health and hygiene professionals
  • Big data specialists
  • Administrative and executive secretaries
  • Supply chain and logistics specialists
  • Specialist medical practitioners

Roles declining in the healthcare industry through 2022 include:

  • Data entry clerks
  • Assembly and factory workers
  • Sales representatives, wholesale and manufacturing, technical and scientific products
  • Postal service clerks
  • Electronics and telecommunications installers and repairers
  • Client information and customer service workers
  • Business services and administration managers
  • Accounting, bookkeeping and payroll clerks
  • Accountants and auditors
  • Traditional and complementary medicine professionals

 

SEE OUR HEALTHCARE FOCUS

 

About the Author
Nicole Leinders

Nicole Leinders is a Senior Vice President within GQR’s Life Sciences division, operating out of New York City.

She specializes in Regulatory Affairs recruitment across Regulatory-Clinical, Regulatory-CMC, Regulatory-Nonclinical and Regulatory-Labeling.

Nicole brings the best and brightest talent to her clients, developing long-term, trusting relationships with her candidates as they grow throughout their career. She is passionate about staying up-to-date on the latest industry news and applies that market knowledge to seek out new and talented individuals and companies working on cutting edge R&D programs.

Nicole is a graduate of St Lawrence University with a dual degree in English-Environmental Studies and Political Science.

Outside of work, she enjoys spending time with friends and family in the Finger Lakes of Upstate New York.

Read More About the Author

Leave a Reply

Your email address will not be published. Required fields are marked *

Decode The Science Behind Motivation In The Workplace & How To Improve Its Quality

Unlock Your Motivation At Work!