Making a Cut in the Biotechnology Sector
Biotechnology has made rapid improvements as a sector. In the present scenario, one would find most countries listing it as an investment priority sector. While promoting a particular nation as favourable for foreign investment, countries often stress on the thriving biotechnology sector as a possible area of investment. There have been numerous reports so far that have posited the United Kingdom as one of the leading biotechnology sectors in the whole of Europe. The factors that have helped the United Kingdom to achieve this position are its strength as an industry. There are immense opportunities when it comes to the biotechnology sector in UK.
Even fifteen years back the United Kingdom was relatively immature when it came to out-licensing its technology. The existing viewpoint at that time was that though UK was good at the development of technology, it did not succeed in commercialising the technology. However, things have changed over the years. As many as 450 biotechnology companies in the UK employ around 21,830 people and generate revenue of around £2.63 billion. These companies are provided support by the BioIndustry Association or BIA.
UK occupies a leading position in the European biotechnology market. It is a mature market and has a strong product pipeline to back its projects in the future. UK pharmaceutical companies comprise around 35% of the products in the market. As many as 41% of the new biotechnology drugs are still been clinically tested and are in the final stages of the clinical trials.
Cambridge, Oxford and London have emerged as the leading centres in biotechnology. These cities are also regarded as the ‘golden triangle’. These cities act as the hub for some of the leading pharmaceutical companies. Certain other regions in the country are known as biotech clusters. These are scattered around the north-eastern and north-western parts of England.
There are more than 40,000 people employed in the industry and most of them have been absorbed in positions that require the candidate to be highly skilled. The industry has made rapid progress over the years and thus holds great potential for absorbing candidates in the years to come in biotechnology jobs. It has certainly emerged as one of the industrial sectors to reckon with.
The country is also home to some of the biggest biotechnology investment funds. The United Kingdom has special expertise in particular areas of healthcare services. These include infectious diseases, monoclonal antibodies, tissue engineering, oncology, stem cell technology and neurosciences. The business units range from extremely small units to multinationals that have established their presence over the years.
An offshoot of the biotechnology industry is the pharmaceutical industry. Pharmaceutical companies either manufacture a number of drugs or are engaged in the manufacture of a few selected drugs. These include generic prescription medicines as well as branded medicines along with ‘over the counter’ preparations. The services provided by specialist companies include consultancy, diagnostics and laboratories. Pharmaceutical careers revolve around all these fields. A number of recruitment agencies offer recruitment opportunities in this field.
Steven Hayes is a recruitment professional and his area of expertise is spread across the field of biotechnology and the pharmaceutical industry. He believes that there is immense scope for biotechnology jobs in UK in the coming years.