LABOR MARKET - THE LIFE SCIENCE AND PHARMACEUTICALS SECTOR IN - euraxess
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L A B O R M A R K E T B R I E F I N G S S E R I E S LABOR MARKET INFORMATION FOR RESEARCHERS THE LIFE SCIENCE AND PHARMACEUTICALS SECTOR IN EUROPE
T H E L I F E S C I E N C E A N D P H A R M A C E U T I C A L S S E C T O R I N E U R O P E LMI RESEARCHER BRIEF SERIES As part of the Labor Market Briefings Series, this report will give an overview of the Life Science and Pharmaceutics sector specifically in Europe and how European researchers can begin making their career in the sector. While providing a general overview of the LS (Life Sciences) sector, this report will focus on the LS sector in four European countries, the United Kingdom, Germany, France and Israel (non- European- Associated country), as all four countries boast significant LS and pharma sectors. It should be noted that is this is a general overview of the LS sector and does not seek to give specific information, rather a glimpse of the sector.
T H E L S & P H A R M A S E C T O R I N E U R O P E THE SECTOR For the purposes of our overview, the LS Life sciences sector growth correlates highly sector is comprised of industries and with countries’ general economic strength companies that deal with the life science and health care spending levels. and Pharmaceuticals fields. The most Demographic trends in both the developed prevalent of which are Biotech, Pharma, and and emerging markets create the basis for Med-tech companies. growth in the life science center. These Biotechnology companies- Biotech trends include; aging populations/the companies can be defined as companies that lengthening of life expectancies, a rise in the employ living organisms or biological global population, the rise in wealth and substances for the development of products income inequality as well as an increase in and services. The Biotech field has the instances of chronic diseases worldwide. applications in numerous fields such as While research into certain disease areas waste management, food processing, such as diabetes and cancer are delivering agriculture, and pharmaceutics. An promising results, new treatments can be important sub-segment of Biotechnology extremely expensive in both developed and companies is Biotechnology therapeutics, emerging markets. In 2015 and beyond, the core business of which is the application governments, providers, and payers are of Biotechnology for the discovery and expected to intensify their efforts to engage development of therapeutic compounds for consumers in wellness and disease medicine and diagnostic purposes. prevention programs. Given the number of Biotechnology companies also include potential policy and regulatory changes companies that apply biotechnology for anticipated in 2017, life sciences services such as screening, analytical stakeholders are expected (and encouraged) services, bioinformatics, manufacturing, to pay close attention to five sector trends agriculture, nutraceuticals, veterinarian that have the potential to help and/or hinder services, and cosmetics. their clinical, financial, and operational Pharmaceutical companies- Pharma plans. They are managing cost & pricing, companies are commercial enterprises that driving clinical innovation, connecting with research, develop, produce, and sell drugs or customers & consumers, transforming other medicine. These enterprises are business & operating models, and meeting typically large and deal both in branded and regulatory compliance. generic compounds. They rely, at least in part, on smaller Biotechnology companies The most relevant trend for researchers is for the in-licensing of novel compounds for "driving clinical innovation". To achieve this their pipelines. goal, companies and governments are Med-tech companies- Med-tech companies expected to continue increasing funding for are companies that are involved in the the development of new products: research, development, production, and Worldwide pharmaceutical R&D spending marketing of systems and devices for totaled $149.8bn in 2015 and is expected to medical applications in humans and animals. grow by 2.8% annually to $182bn in 2022 (compared with CAGR of 1.7 percent between Growth in the life science sector is closely 2008 and 2015). In addition, total medical tied to economic and demographic drivers device R&D spending is expected to grow at that fuel a continual transformation of the a CAGR of 4.3% from 2015 to 2020. R&D broader healthcare industry. Life science spending amongst leading medical device companies have demonstrated their ability manufacturers has grown by 38% YoY, from to survive and thrive amidst periods of $1.6bn in 2014 to $2.2bn in 2015. In 2015, economic recession, health care spending more than 7,000 drugs and treatments are cutbacks, geographic market swings, and under development, globally. Meaning that changing population profiles. more researchers are needed in the LS field than ever before.
T H E L S & P H A R M A S E C T O R I N E U R O P E THE EUROPEAN LS & PHARMA SECTOR AT A GLANCE One of the main activities of LS companies The UK has the most regional headquarters throughout Europe is R&D, with an average for LS companies and the second most of 43% of companies in R&D activities. In global headquarters amongst European contrast, only 45% of companies in LS are nations. In terms of product development, focused on manufacturing. The average the UK has the strongest pipeline in percentage of European companies involved Europe, with an emphasis on pre-clinical in research on a contract basis is 10%. with a strong emphasis in clinical As mentioned and as can be seen below, the (primarily oncology). four countries which have the most UK companies were able to raise record developed LS industries are Germany, the amounts of funding in 2014 and 2015, with UK, France, and Israel. public companies raising more than $2bl in 2014. Whereas, privately owned companies Germany- have consistently raised more than $400ml The largest country in Europe also has the each year since 2011. greatest number of LS companies. German companies focus more on services, France- diagnostics, and environmental services. The France has a strong LS sector, especially in number of Med-tech companies in Germany the Biotech and Pharma sub-sectors. Both is quite high with a strong proliferation of of which have a strong focus on the innovative SME companies. These companies cosmetics, food, and environmental are often active globally, translating into a markets, in addition to being a main R&D high number of global headquarters. Other focus within the country. Regarding Med- features of the German LS ecosystem tech companies, France is very average by include the largest number of Biotech European standards. Many French companies in Europe, though less so in companies offer R&D on a contract basis, terms of Biotech therapeutics companies. indicating innovative capabilities and lower Germany has the second highest number of risk. Pharma companies in Europe. France is home to many global and German companies have strong preclinical regional headquarters of firms that also and clinical pipelines for the development of manufacture in the country. In addition, new products, with a strong focus on France has the third largest number of oncology. Since 2007, Germany has had products in development within Europe, relatively few IPOs (initial public offerings) with a heavy focus on early stage products, totaling eight resulting in the funding levels particularly in oncology. It should be noted for public companies becoming significantly that the country is weaker in clinical stage lower. Financing for private companies, products where its focus is more on however, was the third highest in Europe in infectious diseases. France also has the 2014, behind only the U.K. and Switzerland. most products in Europe in pre-clinical development. The U.K.- France has seen the most IPOs (initial The U.K. has the second highest number of public offerings) in the LS sector in Europe LS companies in Europe with the highest since 2007, with 34 companies raising number of innovative companies in Biotech money from the national market. However, therapeutics. The UK also leads in Europe in the annual amount of capital raised by the percentage of Pharma companies with private companies in the LS sector in the LS sector. Surprisingly, only 40% of the France was below the European average LS companies undertake R&D in the UK and ($225ml in 2014 for Europe). only 35% undertake manufacturing.
T H E L S & P H A R M A S E C T O R I N E U R O P E THE EUROPEAN LS & PHARMA SECTOR AT A GLANCE Israel- Israel has a very strong LS sector, especially in the Med-tech and Biotechnology sub sectors. In terms of Med-tech companies, Israel is in second in the field after Germany. The main activities of the LS companies in Israel are R&D (45%) and manufacturing (45%). There are dozens of global Life Science R&D centers in Israel of the global medical device, healthcare IT, and pharmaceutical company types. This came about as a result of a large number of acquisitions of Israeli companies by foreign LS investors/corporations. Between 2005 to 2014, 62 Israeli life sciences companies were acquired, with the aggregate sum of these acquisitions totaling $7.7bl excluding royalties. During the same period, $4.13bl was invested in Israeli life sciences companies. From 2011 to 2014, more than 160 Israeli IPOs (initial public offerings) were conducted in Western exchanges.
T H E L S & P H A R M A S E C T O R I N E U R O P E EMPLOYMENT IN THE EUROPEAN LS & PHARMA SECTOR The field of life science and pharma industries consists of large and well- founded companies, some of them are global companies with local branches in many countries. There are also small and medium companies, many of them are startup companies. The average salary in the LS sector in Europe in 2016 was about €52,300. Here are some examples of major LS companies in the specific countries:
T H E L S & P H A R M A S E C T O R I N E U R O P E GETTING A RESEARCH JOB IN THE EUROPEAN SECTOR PhDs and Postdoc holders in Life Sciences (Biochemistry, Biology, biotechnology, biomedical science, chemistry, food science, Genetics, Microbiology, Pharmacology, Nanotechnology) and in Engineering (Biomedical engineer, Materials engineering, chemical engineering) can look forward to finding employment in the LS and Pharma sector. Graduates in Computer Science, Mathematics, and exact sciences can find employment in science and pharmaceuticals companies, specifically medical device companies as part of their IT departments. Areas of potential employment include clinical trials, manufacturing and supply, marketing, medical sales, and R&D, within the pharmaceutical sector. As well as, such as finance and human resources in LS companies or in other areas (HR). The LS and pharma sector is keen to add professional employees, therefore a Ph.D./Postdoc in a specific field would be greatly valued by LS companies. A Ph.D. can serve as a useful for job seekers to distinguish themselves from other potential job candidates. It may also allow for accelerated upward mobility in the employee hierarchy in large companies. The most relevant skills for LS positions are: problem-solving, objective thinking, commercial awareness, communication, interpersonal, creativity, enthusiasm, IT, numeracy, time management, organizational, project management, presentation, research, and teamwork skills .
T H E L S & P H A R M A S E C T O R I N E U R O P E OVERVIEW The Life Science sector is a promising sector which rapidly grows worldwide. Europe is playing a key role in Life Science field, as innovation and the growth, which characterize the sector, are part of the European Union's vision of science and Innovation. For recent graduates looking to make their way in the LS sector, there are many employment opportunities with excellent conditions, salaries, and possibilities for personal growth and professional development. Other useful sources of information and links Graduate jobs in science and pharmaceuticals- https://www.prospects.ac.uk/jobs-and-work-experience/job- sectors/science-and-pharmaceuticals/graduate-jobs-in-science-and- pharmaceuticals Overview of the science and pharmaceuticals sector- https://www.prospects.ac.uk/jobs-and-work-experience/job- sectors/science-and-pharmaceuticals/overview-of-the-science-and- pharmaceuticals-sector Deloitte 2017 global life sciences outlook- https://www2.deloitte.com/us/en/pages/life-sciences-and-health- care/articles/global-life-sciences-sector-outlook.html IATI-Israel Advanced Technology Industries- http://www.iati.co.il/files/files/IATI%20Israeli%20ICT%20Industry%20Revie w%202015.pdf KPMG Life Science Companies in Europe- https://assets.kpmg.com/content/dam/kpmg/ch/pdf/site-selection-for- life-sciences-companies-europe-en.pdf
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