As Singapore’s life sciences industry continues to be a regional force to be reckoned with, rapid developments in digitalisation –– fuelled by governmental support and the influx of foreign investments –– are shaping the world of work, therefore setting the bar high for talents in the sector.
Demand for candidates is highest in the following areas:
- Medical affairs specialists
- Engineers and quality assurance professionals
- Product managers and sales specialists
"In the face of game-changing advancements in AI technology, employers are increasingly discerning in looking for the best fit for demanding and evolving roles. Candidates who constantly upskill themselves will certainly find themselves buoyant when new waves of technological transformation yet again engulf the industry,” says Grant Torrens, Business Director at Hays Singapore.
The Singapore government is relentless in heavily investing in technology to maintain its position as a leading pharmaceutical and medical technology manufacturing hub. As a result, 2018 saw the rapid development of advanced manufacturing and engineering research, and the unfolding of additive manufacturing technologies in the biomedical and healthcare arenas.
The industry was also notably stimulated in the past year by a host of major partnerships and collaborations in the name of innovation including the co-development of significant medical technologies and joint efforts in revolutionising pharma manufacturing capabilities.
Within companies, especially those with a heavier commercial emphasis, employers are providing their work force with overseas exposure, in addition to comprehensive in-house training programmes. For companies that operate mostly in the APAC region, new sales representatives may undergo training in key markets such as Malaysia and Hong Kong. Global companies may also send employees to their headquarters such as the Basel region, the pharmaceutical hub in Switzerland.
“Equipped with a world-class ecosystem that is quick to self-regenerate in the face of ever-evolving market demands, the city state remains an attractive destination for pharmaceutical and biotechnology firms around the globe looking to establish a gateway to Southeast Asia. With good times in Singapore’s life sciences industry, candidates looking to explore new opportunities will be greeted with a strong market in the coming year,” adds Grant.
Following the launch of new products and offerings, alongside promising growth predictions, strong leaders with business integration experience, product managers, and sales specialists would find their fields of work most promising in the current market.
Pharmaceutical companies are also in need of medical affairs specialists to provide scientific and clinical support alongside actively engaging key opinion leaders. Medical professionals looking to transition into this role make for very desirable candidates in this talent short sector. Likewise, engineers and quality compliance professionals enjoy leverage as top biopharmaceutical companies establishing an international base in Singapore will be offering competitive salary packages to attract talent with strong profiles.
An overview of what other trends have been observed in Singapore’s Life Sciences sector can be viewed below.
- A notable trend that is on the rise is precision treatment, where drugs and products are customized to suit bodies and lifestyles. Shifting away from mass production and creating highly specific products, manufacturers are transforming their manufacturing activities to involve robotics, automation and digitalisation to increases efficiencies.
- The medical devices sector blooms with the influx of foreign players, on top of mergers and acquisitions of giant corporations buying up peers in multi-million-dollar deals. The optimism stems from Singapore’s pervasive aging population which increasingly demands for sophisticated home care devices — such as Elderly Care -Monitoring Systems (sensors at home, applications, and wearable devices).
- Industry-wide, there has been an increased focus on drug manufacturing productivity and efficiency with automation and new technologies to service patients at a faster and more affordable way.
To view the full Inside Story of Life Sciences in Singapore, please click here.