Oncology drug and treatment R&D specialists, CRO specialists are facing shortages

Rapid development across the life sciences industry in Mainland China is outpacing talent supply, according to the latest report The inside Story of Life Science in Mainland China delivered by global recruitment group Hays. The top skills in demand in Mainland China’s life sciences industry include oncology drug and treatment R&D specialists, contract research organisation (CRO) specialists and product marketing managers.

“Mainland China’s life sciences industry has undergone a major transformation. With recent investment boosts in Mainland China’s pharmaceutical research and development programmes, the contract research organisation (CRO) sector will see corresponding growth, resulting in heightened demand for talent in this field,” says Simon Lance, Managing Director at Hays Greater China.

“The ongoing development in R&D for cancer treatments and oncology drugs are taking centre stage in the life sciences arena, thereby attracting a significant amount of capital investments and overseas scientist talents to be part of the thriving scene. Notwithstanding, there persists a local market talent shortage due to skills mismatch, resulting in greater acceptance from hiring managers of industry cross-over. Employers are therefore more receptive of candidates who are not experienced in oncology therapy,” adds Simon.

Another driving force of Mainland China’s life sciences industry is the medical devices sector, which is making technological strides. With greater support from the government, and the shift in focus from low-tech goods to medium-and-high-tech devices, the sector has achieved great leaps in annual revenue. As the volume of medical devices increases exponentially due to local enterprises’ product launches and foreign companies’ market entry strategies, product marketing mangers & business development managers play an increasingly important role in ensuring growth in the business-to-business (B2B) market share.

Companies are increasingly turning to the Chinese who return each year from studying or working in Life Sciences overseas, particularly in the U.S. Repatriating talent, especially in the candidate-starved life sciences arena, are highly coveted for their cross-cultural awareness and diversity of ideas they bring to the table. Most employers are willing to offer competitive salary packages to attract and secure such talent.

“Despite the large influx of returnees and many life sciences graduates, the rapid market expansion is expected to continue at this pace for the next three to five years such that demand will far outstrip talent supply. This is likely to exacerbate the already talent-short market in R&D, particularly in the nascent field of precision medicine. Hence, salaries are expected to rise well above the market average, with candidates in critically short areas commanding 20 per cent salary hikes, improved working conditions and career progression possibilities.” Simon says.

For the full Inside Story of Life Sciences in Mainland China, please click here.