6 Best Articles About Life Science Industry Trends For Your Job Search

I went into my first industry interview full of confidence.

I had an abundance of the technical skills that were required for the position — surely, they would want to hire me.

But, as soon as they started asking me questions, I realized that — uh oh — I was not as prepared as I thought I was.

I tried to hide the feeling of panic that overcame me.

They asked me, “What do you think of the most recent trends in our industry?”

What?

I was ready to answer that tough interview question, “What is your greatest weakness?” but this came out of left field.

I had no idea what was happening in industry.

I wasn’t sure what to do.

It was a rude awakening.

If I was going to get an industry position, I would have to figure out how I could stay up-to-date with what’s happening in the business world.

This was a totally unexpected and new thing for me.

So, I started researching and learning.

For my next interview, I was ready for those behavioral interview questions, but also I was prepared to talk about the most recent industry trends.

Why You Have To Know The Current Industry Trends

In the past few years, the global life science and healthcare industry has experienced significant changes brought about by technical breakthroughs.

And, through all that change, the industry has managed to strengthen and grow.

According to a report by the consulting firm, Deloitte, at the end of 2015 total global health care spending was US$ 7 trillion and this spending is expected to grow to US$ 8.7 trillion by 2020.

This increase represents opportunities of growth, as well as new challenges for major players in the life science sector.

This growth also indicates more career opportunities for students who are interested in pursuing careers in this sector.

Alongside the growth seen in industry, each company within the sector is striving to adapt to changes and challenges.

Embracing changes and adopting new technologies and policies that will shape the future of the life science industry will be key to any organization’s success.

Industry is looking for employees who can take on this challenge.

And, while the hiring of PhDs is up in industry, an article published in The Scientist reported that only around 15% of US postdocs secure tenure-track jobs and the unemployment rate for postdocs is increasing.

Lack of opportunity and low pay have made PhDs realize that there is much more available to them outside of the ivory tower, and that PhDs in industry positions are happy with their careers.

Recently, Nature published a large-scale survey that examined the salaries and job satisfaction levels for PhDs and MSc holders.

The survey found that those who were working in industry were more satisfied with their work-life balance than those working in academia — 79% versus 68%.

The data is clear: PhDs are finding opportunities outside of academia and they are happy.

But, in order to get hired into these industry jobs and position yourself as the best job candidate, you must be up-to-date with the latest industry trends.

Cheeky Scientist Top 6 Industry Trends Articles

As a PhD, there is a need for your skills and expertise in industry.

But, employers might view your academic status and think that you don’t have the industry know-how they want.

Prove them wrong.

Don’t be a naive academic.

Do your research and learn as much as you can about what’s happening in industry as a whole, as well as in your specific field.

This will set you apart from other job candidates.

Here are the top 6 Cheeky Scientist articles to help PhDs stay up-to-date with current industry trends…

Top PhD Job Candidates Must Know These 4 New Developments Influencing The Life Science Industry.

Embracing changes and adopting new technologies and policies that will shape the future of the life science industry will be key to any organization’s success.
The industry will also have to continue to deal with the threat of decreasing returns on R&D investments, and increasing competition from biosimilars and generics.
If you are a graduate student in the life science field and you are eager to pursue a career in industry, it is essential to be aware of current trends and upcoming changes in this sector.
Here are 4 trends in the biopharma industry that will influence your job search and future industry career…

6 Trends PhDs Must Know About The Biopharma Market.

The world of science and technology moves fast.
It can be difficult to keep track of everything.
However, it is essential that you put in the effort and learn about what is happening in industry.
Doing this will help you understand the kind of opportunities that will be available in the future and how you should prepare yourself to maximize your chances of success.
This information affects you, your job search, and your future job prospects.
Here are 7 current trends in biopharma that PhDs must be aware of…

Industry Is More Than Just Big Pharma — Learn What Types Of Companies Are Hiring PhDs.

There is a place for you in industry.

A place where you can doing meaningful work and enjoy your life.

PhDs are often unaware of the huge variety of careers available to them.

There are different industry sectors and different organization types in industry.

It’s just a matter of finding the place that is the right fit for you.

And, understanding what companies are currently hiring lots of PhDs.

Here are descriptions of 5 different types of companies found in industry to help you decide what might be a good fit for you…

3 More Industry Trends To Help PhDs Develop Their Business And Commercial Acumen Skills.

Business acumen doesn’t mean the ability to say smart-sounding business words like, “costs of goods sold” or “rolling forecast.”

It refers to a deep understanding of current industry trends.

The more you understand the trends in your industry, the better you can handle business situations.

Industries are highly innovative and evolve at a rapid pace.

To be successful, you need to be aware of these trends and the implications each trend has on a specific project.

You must get in a habit of researching new trends and staying up-to-date on the latest news across the biotech and biopharma sectors.

The time to start developing and leveraging your expertise in industry is now.

Here are 3 more top industry trends to help you develop your business and commercial acumen skills for transitioning into the non-academic career of your choice…

Which Future Do You Want? Scarcity In Academia Or Abundance In Industry?

The academic system is not sustainable.

As a PhD, you have witnessed this first-hand: dead-end postdocs, limited funding, high rates of depression, and many other issues within academia.

But, all this can boil down to academia being associated with scarcity.

This limited vantage point from within academia makes it seem as if there is not enough to go around.

And, within the academic system there isn’t enough to go around.

The data proves this.

Here is the data behind why you will find scarcity in academia and abundance in industry…

How PhDs Can Impress Employers By Understanding The Latest Trends In The Life Science Industry.

One of the major drawbacks of PhDs or postdocs who attempt to transition to industry is their lack of awareness of what is going on in the industry.

Science PhDs are highly skilled and knowledgeable in their specific research topic, and this might be sufficient to secure an academic postdoctoral position.

However, if you wish to transition into industry, it is essential to develop an awareness of current industry trends.

This awareness, combined with the deep scientific knowledge gained through graduate training, will enable you to portray yourself as the ideal candidate for an industry position in the life science sector.

Overall, the immediate future looks promising, but to continue the positive trend the players in this sector will have to be mindful of the trends and the possible upcoming major changes.

Here are 5 of the top life science industry trends that PhDs need to be aware of…

As technology, society, and economies change, companies in industry face the challenge to adapt to these changes.

Being familiar with these trends and positioning yourself as a person who knows what’s coming next will make you a very desirable employee.

By staying on top of the latest developments, you can demonstrate that you are a top industry job candidate.

Bottom line — as a PhD transitioning into industry, it is essential that you understand what is currently happening in your industry.

If you’re ready to start your transition into industry, you can apply to book a free Transition Call with our founder Isaiah Hankel, PhD or one of our Transition Specialists. Apply to book a Transition Call here.