The growth of the biotech industry in Asia and the challenge of hiring experienced talent
Asia has quickly become one of the hottest centers for the biotech industry. Whether from industry development, to demographics and more, the globalization of the Asian biotech industry has boomed. However with the new business expansion and partnerships being formed, it's becoming increasingly difficult to locate and hire experienced talent.
Countries such as China, Singapore and Hong Kong have surged to the forefront of biotechnology. Being able to locate talent through recruiting services can help the increasing demand, but it's still a challenge to find qualified help. Here's some of the determining factors to why it's so hard to hire workers for the biotech industry.
Challenges in finding biotech industry talent
Growth - The biotech industry is booming so fast, that from a supply and demand standpoint it's just hard to keep pace. The fact that Asia is quickly urbanizing and growing only complicates matters. What this has done is created a huge void of qualified employees that can help.
With venture capitalists and big pharmaceutical companies partnering to fund biotech start-ups, the demand is higher than ever.
Expansion - From the various new partnerships in the biotech industry, to the expansion of new business models, the need for experienced talent is growing every day. With the growth of the biotech industry in Asia, there will always be a need for recruiting services in this market.
Almost daily new partnerships with government on the investment side, as well as universities on the R&D side expand the biotech industry in Asia
Healthcare - Asia is quickly developing a new consumptive middle class, which in turn increases the demand for healthcare. With this need, there's also a need for improvements in life science and finding more discoveries to help others.
The rise in population of such countries like China or India have boosted the need for qualified biotech industry workers.
Globalization - Not only does the need for biotech workers affect Asia, it's also for cross-border healthcare. In fact much of the business developed and delivered by large biotech companies is overseas and across the globe. There are many companies out there that are dedicated to different areas of the industry.
There are even some venture capital companies that are exclusively set up to manage assets of big pharmaceutical companies. Serving the global marketplace is what Asia's biotech industry has grown into, and it's driving the immense need for employees.
Technology - Not only does Asia lead the way in global biotech development, it's quickly growing into a hub of technological advances as well. Asia leads the way in technological development and advances in the biotech industry. In fact Singapore was recently named the fastest in clinical trial regulatory approval.
When you are looking for biotech industry professionals, the best talent recruiter is what you need. From the laboratory to the tail end of drug regulatory approval processes, there's no lack of need for qualified biotech industry workers. Use the best talent recruiting processes to find employees or work in the biotech industry today.