The global biopharmaceuticals market is predicted to earn a compound annual growth rate (CAGR) of 8.5 percent through 2023, according to Mordor Intelligence’s “Global Biopharmaceuticals Market” report. There is so much growth in the field, you may not know where to look for the best career opportunities. We’ve compiled the top trends in biopharma recruitment to help guide your biopharma job hunt.
China, India, Brazil and Russia have been called “pharmerging” markets for their potential growth in the pharmaceutical sector. These international markets are about to boon due to the increasing geriatric population and increasing healthcare expenditure. According to Grand View Research’s “Pharmerging Market Analysis by Product, by Industry,” the global pharmerging market size was valued at $548.3 billion in 2016 and is expected to grow at a CAGR of 17.1 percent through 2025.
Additionally, GEN reports the following 10 countries that offer promise for finding a biopharma job: Belgium, Canada, China, Denmark, France, Germany, India, Ireland, South Korea and the United Kingdom.
Stateside Job Opportunities
The “Global Biopharmaceuticals Market” report shows North America still dominates the biopharmaceuticals market in terms of revenue. If you want to stay stateside, Monster reports the following regions being the hottest places for biotech jobs:
- Biotech Bay: San Francisco Bay Area, Northern California
- Biotech Beach: San Diego, Los Angeles, Orange County, Southern California
- BioCapital: Delaware; Maryland; Virginia; Washington, D.C.
- BioMidwest: Illinois, Indiana Iowa, Michigan, Minnesota, Missouri, Nebraska, Ohio, Wisconsin
- Bio NC: Research Triangle Park, North Carolina
- BioForest: Idaho, Montana, Oregon, Washington
- Genetown: Massachusetts
- Pharm Country: Connecticut, New York, New Jersey, Pennsylvania, Rhode Island
- Lone Star Bio: Texas
Biologics and Biosimilars
The EvaluatePharma World Preview 2018, Outlook to 2024 report shows that biologics will contribute 52 percent of the top 100 product sales by 2022. Roche is the market leader in biologics. Other companies that specialize in biologics are worth a look, including Amgen, AbbVie, Novo Nordisk and Johnson & Johnson.
A competing force is biosimilars, which are generic versions of biologics. They are not an exact copy of the drug and therefore require their own clinical trials and regulatory approvals. Sandoz, which is a division of Novartis, recently announced a global partnership with a leading Asian biopharmaceuticals company, Biocon, to develop biosimilars for immunology and oncology patients. Other companies to watch are Celltrion, Amgen and Samsung Bioepis.
Mergers and Acquisitions
The first half of this year’s mergers and acquisitions in life sciences, which includes the biopharma sector, added up to $170.2 billion. This is on track to surpass the $200 billion annual volume of deals last year. Noteworthy deals include Sanofi acquiring Bioverativ for approximately $11.6 billion and Celgene acquiring Juno Therapeutics for $9 billion and Impact Biomedicines for up to $7 billion. The larger companies buying up the smaller ones is who you should keep a close eye on.
The number of biopharma companies going public and the amount of money their raise shows growth in the field. Renaissance Capital called it the “most active IPO market in three years,” according to GEN. The industry publication lists the top 10 IPOs this year: WuXi AppTec, Tricida, MorphoSys, Polyphor, Autolus Therapeutics, Kiniksa Pharmaceuticals, Homology Medicines, Solid Biosciences, Menlo Therapeutics and Arcus Biosciences.
With the influx of cash from going public, these companies are likely ramping up efforts in research, development, marketing and hiring. Now is the time to get in the door.
According to the EvaluatePharma World Preview 2017, Outlook to 2022 report, the CAGR for oncology therapies is 13 percent and its value will reach $192 billion in 2022. Roche remains top in the oncology field, but Celgene is not far behind. Informa Pharma Intelligence’s Trialtrove database records show oncology accounts for two-thirds of the clinical trials, followed by cardiovascular (11.5 percent) and infectious disease (6.5 percent). These are the areas to track as you consider your next move in the biopharma field.