The Biotech and Medical Devices industries have always been fast-paced, and with the spotlight on these organisations as a result of the pandemic, the industries are only set to become larger forces.
With increased and accelerated growth comes regions which are set to be life sciences hotspots, which will be key to indicating the future trajectory of the industries at large.
From up-and-coming research institutions to extra job predictions, let’s look at the hotspots, what they mean for organisations and some key areas for growth.
Unsurprisingly, there are quite a few hotspots that are either already well established and continually growing, as well as newer, steadily expanding ones.
With its central location and position as one of the largest and fastest-growing markets for life sciences in Europe, Germany is a location which life sciences organisations have found to be ideal for stability, funding and technology.
Particularly for research and development, the advanced technology Germany has at its disposal is extremely appealing.
Having broken Korea’s six-year streak as the most innovative nation, taking first place in the 2020 Bloomberg Innovation Index, Germany is the location for life sciences organisations looking for technological innovation as the key to their growth.
Having already gained a reputation for excellence in medical areas, it’s no surprise that Switzerland is an ideal location for organisations looking for a commitment to R&D and innovation.
Additionally, Switzerland is home to firms such as Novartis, Roche, and Syngenta, and has a vast network of medtech and biotech companies.
Zurich has emerged as a key area of note, becoming one of Europe’s leading locations for the industries, including top-class universities and research institutions.
The Dutch life sciences market has always been a force to be reckoned with, which has continued to be true with the continual development and commitment to digitalisation, including the use of AI.
The European Medicines Agency relocation from London to Amsterdam signalled the Netherlands’ position as a life sciences leader, as well as being host to a number of other organisations, particularly those within the biotech and pharmaceutical industry.
For biotech organisations specifically, the Netherlands has the significant advantage of a rich pool of highly skilled talent, from their own workforce and those hired from all over Europe.
Boasting over 420 biopharmaceutical companies, 3,100 R&D companies, and a €4.7 billion medtech market, the Netherlands is undoubtedly an area of note for all life sciences organisations.
Fast approval processes for clinical trials and renowned universities and institutions are just two of the reasons why Belgium is a hotspot for both industries
With increasing investments each year since 2017, Belgium is also home to a variety of biotech, medtech, pharmaceutical, and healthcare organisations, having ranked number #1 for clinical trial procedure speed in 2019.
Universities play a key role in Belgium’s strong R&D reputation, with collaborative departments that also provide a steady influx of talented life sciences graduates.
One of the biggest benefits for organisations in Belgium is the mix of industry veterans and young researchers and entrepreneurs that are present, keeping the industry dynamic and reliable.
The life science sector in Northern Ireland supports over 18,000 full-time jobs, and has seen a steady increase of 6% in pharmaceuticals and medicines manufacturing employment since the last tally in 2015.
What stands out about Northern Ireland is the collaborative approach that fosters a great environment for R&D.
With a strong mix of international investment, excellent infrastructure and appealing skills availability, Northern Ireland has a significant potential for even further growth in the future, making it a hotspot to keep an eye on.
The medical device and biotech industries in Luxembourg is unique in that the emphasis rests on boosting innovation and commercialisation, in particular, the commercialisation of diagnostic and therapeutic tools.
Luxembourg is an area of interest when it comes to biotech and R&D, though it is more of an emerging hotspot than an established one at present, yet to be recognised on the same level as other hotspots.
With significant investments being made, however, it’s only a matter of time before Luxembourg becomes more established on the list of hotspots and attracts more candidates to its workforce, particularly in the area of R&D.
Key points for growth
Keeping an eye on the emerging hotspots in the medical devices and biotech industries means that your organisation can keep on top of future trends, key areas of investment, and get an idea of where there may be untapped talent pools with highly skilled candidates.
With the rapid growth in these sectors, it can be hard to keep up with emerging areas of interest, particularly with digitalisation and the rising necessity for skills such as software development to keep up.
If your organisation ever considers relocation or expansion, locations such as Germany with a robust economy and strong infrastructure are extremely appealing, and the benefit of being aware of these hotspots is knowing which areas offer strengths compatible with your organisation and its needs.
Access to talent is going to be vital during such a period of growth as the war for talent emerges within the sector due to skills shortages – it’s never been more essential to know where you can access highly-skilled candidates if you want to stay ahead.
Though there are many familiar faces on the list of hotspots such as the Netherlands and Germany, there are up-and-coming hotspots such as Northern Ireland and Luxembourg that are only going to continue growing alongside the industry.
Each of these locations offer opportunities for innovation, securing top talent, and collaboration – which is why it’s essential to stay up-to-date with these hotspots in order to consider how they may benefit your organisation in the long-term.
Get in touch with the Panda team today for expert help in securing top talent for your organisation.