With world-leading medical and scientific research bases, excellent institutions, a growing biotech sector, as well as an adaptive healthcare system, government initiatives and strong workforce, Australia’s life sciences market is on track for huge potential growth. In conversation with BioSpectrum Jobs, Shermaine See, Principal Consultant, EPM Scientific throws light on the various life sciences related career opportunities in Australia.
How is the life sciences sector contributing to the Australian economy?
The Life Sciences industry is one of the top few contributors to the Australian economy. The ASX-listed Australia life sciences sector is worth around AUD 100billion, comprising of about 100 companies in the sector.
How is Australia creating new job opportunities within the life sciences sector? Is there a road map by the industry or government?
Australia has streamlined clinical processes and protocols which made it one of the preferred destinations to conduct clinical trials – this has opened up job opportunities for many talents especially in the clinical research industry.
Is there a ‘talent crunch’ within the life sciences sector in Australia?
In general, the life science sector is a candidate driven market. Most of the candidates are usually comfortable and happy with where they are and will only move if the opportunity is really attractive. These candidates do not only look at career development potential, but they also take into consideration compensation packages and work culture.
Is Australia investing enough to train the right talent for life sciences-related jobs?
The life sciences industry is entering a significant stage of growth, accelerated by a renewed focus on health and biotechnology as a result of the COVID-19 pandemic and as such record levels of capital raising have occurred over the last 2 years. Although we are seeing the Western Australian Government has committed $8.65 million to implement WA’s first ever Health and Medical Life Sciences Industry Strategy – a four-year plan to attract investment, diversify the economy and create new jobs, we don’t see many investments yet that is purely focusing on training talent. With a lot of government-funded investment programs within the Life Sciences industry in the background, the investment in training the right talent for life sciences-related job is not yet enough to meet the needs.
What are the basic talent/skill requirements for jobs in the life sciences sector in Australia?
Most companies are looking for talents who have graduated with a life science degree – biology, bioengineering, nursing, pharmacy, medicine, etc.
How is the industry-academia partnership helping in providing better job opportunities?
Industry-academia partnership can ensure health and medical discoveries are more accessible to industry and can be fast-tracked to commercialisation opportunities. The partnership can align the supply of life sciences talent that are commercially ready for industry opportunities.
Which segments within the life sciences sector such as biopharma, biotech, clinical research offer more job opportunities than the others in Australia?
Biotech and clinical research industries are definitely booming. More job opportunities are with Clinical Research Organisations because of how sponsors are outsourcing their clinical trials to them.