The pharmaceutical industry has consistently maintained positive growth over many years now – even through difficult financial times. Market research firm Evaluate Pharma projected a 6.3% CAGR global growth rate, which would make the pharmaceutical industry worth $1.12 trillion by 2022.
Whether you’re a beginner in search of a suitable career path or someone experienced looking to make a career switch, a career in the pharmaceutical industry is sensible career option with strong financial prospects and plenty of opportunities for growth. Here are some readily available careers options within the field, for those keen:
Research & Development
R&D is the driving force for growth in many industries, but for the pharmaceuticals, it’s the pillar on which everything else rests. People in pharma R&D roles typically spend their time in laboratories to find solutions that will enhance and save lives – either by developing new medications or updating current ones. This is a high specialised role that requires qualified, skilled professionals.
Another key career in the pharmaceutical industry is managing the supply of materials needed for production. A procurement professional’s responsibility includes finding cost-effective suppliers for raw materials, equipment and any other products involved in the production process. They spend their time sourcing and negotiating with suppliers to find the best ways to cut procurement costs, so if you are great with numbers, business strategy and negotiation, this gig is for you.
Project management, like R&D, is a key role for multiple industries, and in the world of pharmaceuticals, a product manager the person in charge of overseeing the creation of the products. These professionals work closely with researchers, engineers, procurement professionals and operations teams to ensure that everyone is working towards developing the products on time and within the allocated budget.
Pharmaceutical products are directly linked to people’s well being, which makes quality control perhaps the most crucial function in the industry. A quality manager’s primary role would be to monitor the manufacturing processes of the product to ensure that it meets the necessary standards. They are responsible for investigating and ensuring that all the safety and testing procedures are met, and that products are of the highest standards possible.
Pharmaceutical companies appoint sales representatives to build key relationships and drives sales. By sharing product information, explaining product use and delivering samples, these professionals meet with doctors and work to help them understand why their company’s products are the best to prescribe the medicines to patients.
These diverse roles within the pharmaceutical industry demonstrate the amount of opportunities available for people with a variety of skillsets and backgrounds – so if you’d like to join the world of pharmaceuticals, there is very likely a role for you.
Want to know what the pharmaceutical industry has in store for you? Take a look at Pharma Jobs.