THE LIFE SCIENCES INDUSTRY WILL CONTINUE TO BENEFIT FROM INVESTMENTS
Driven by an increasingly aging population and growing healthcare requirements from middle-class populations, life sciences in China is considered to be one of the most promising industries by both employers and employees alike.
The life sciences talent market in China will continue to benefit from significant investments that are being made into the country’s innovative pharmaceutical industry. However, new regulations are expected to introduce an amount of uncertainty and challenges in the Chinese pharmaceutical market. Consequently, 2020 is likely to see high demand for market access and regulatory/government affairs experts. Such candidates can expect more than the average pay scale, particularly those with experience in new drug applications in both domestic and overseas markets like the U.S.
LOCAL AND FOREIGN COMPANIES IN FIERCE COMPETITION FOR LOCAL SPECIALIST TALENT
There has been more investment in fields like oncology, rare diseases and chronic diseases, alongside cutting-edge technology like NGS (next generation sequencing), CART (cardiac resynchronisation therapy) and cell therapies. Roles in specific functions like biomarker scientists, clinical research physicians and medical advisors are in huge demand and can command up to 15 per cent increments to encourage retainment. There is also fierce competition between MNCs and domestic companies to attract such candidates in the market. This competition has been further aggravated by an increasing number of Chinese talent that is moving out to take bigger roles in other parts of the Asian region.