Biotech to boost healthcare industry in 2024

Biotech professionals to receive a 5% average increment when switching employers.

In the post pandemic era, the healthcare industry now focuses on diagnostics, particularly in oncology, orthopaedics, and communicable diseases, Randstad reported.

AI is being integrated into biotechnology research and development to discover targeted or novel oncology treatments by mapping cell structures.

This requires skilled scientists which prompted companies to hire talent specialising in such areas.

Technology is also being utilised by generic biotech companies to prevent diseases and improve patient outcomes, especially for communicable diseases, helping them shorten speed-to-market and scale while improving product quality.

New medical devices are also expected which boosted the demand for new headcounts to capitalise on consumer growth.

In addition, field engineers are being hired to boost business-to-business revenue.

Meanwhile, despite the growing talent demand, biotech professionals are likely to receive only 5% average increment when switching employers in the industry.