The Pharmaceutical Industry is Booming – Here’s Where the Best Jobs are Located
Introduction
The pharmaceutical industry is responsible for the research, development, production, and distribution of medications around the world. The life science industry can offer individuals a rewarding career with high demand for roles in many areas in pharmaceuticals, biotechnology, medical devices and clinical research sectors. These would include quality control and assurance, research, manufacturing, project management, biology, and many more. The market, as a subsector of the Life Science industry, has experienced significant growth during the past two decades, particularly during and post pandemic, where pharmaceutical revenues worldwide totaled 1.48 trillion U.S. dollars in 2022 [1].
If you are looking to start a career or are looking for a change of role within pharmaceuticals, your best bet is to go where the jobs are. This article will focus on two of the main growth countries in pharmaceuticals and will also present a list of other trending countries rich in pharmaceutical investment.
Two of the Best Locations
Two of the best-known countries in terms of growth and demand for pharmaceutical professionals are in Ireland and USA. Let’s look at Ireland first and determine why it’s one of the best European countries attracting pharma professionals and companies alike:
Ireland
Favourable Business Environment
Ireland offers a highly attractive business climate for pharmaceutical companies and is committed to providing high-quality healthcare services. That’s why some of the largest pharmaceutical companies, such as Pfizer, Takeda, and West Pharmaceuticals, have chosen Ireland as it offers several key factors which are very attractive:
The low corporate tax rate of 12.5% is one of the lowest in the world
Generous 25% tax credit on qualifying R&D expenditure
Stable regulatory environment and business-friendly policies
It’s geographical location and accessibility is also attractive as it is ideally located for exporting to European and global markets with ease, and is one of the most predominantly English-speaking EU countries. By having access to the EU labour pool, it can leverage over 240 million people. Internally, and because of the health of the pharmaceutical market in Ireland itself over the past decade and more, it has Europe’s largest per capita employer of medical device professionals, with numbers quoting over 50,000 people employed in the sector alone. Ireland also places a strong emphasis on STEM education and training at an early age to capitalise on the skills already present there. Having a skilled and seasoned workforce to tap into on their doorstep is a huge positive to pharmaceutical companies who want to or have already invested in Ireland [2].
Strong Industry Ecosystem
For its size, Ireland is certainly punching above its weight when it comes to pharmaceutical investment. It has cultivated a thriving pharmaceutical ecosystem, going back decades, and can proudly boast that 19 of the top 20 pharma and biopharma companies have operations based in Ireland. This is combined within a strong network of domestic companies and research centres.
The STEM education mentioned earlier has also collaborated highly effectively between industry, academia, and the government. This results in state-of-the-art facilities and research centres, expansion into emerging areas like biologics and cell/gene therapies, and continuous investment.
Success Story
The track record of success of the pharmaceutical industry has a proven history of growth in Ireland, with it being labelled as the largest net exporter of pharmaceuticals in the EU, with exports worth €12.6 billion annually. This combination of factors has made Ireland an extremely attractive location for pharmaceutical companies looking to establish and expand their global operations. The country's strategic approach to developing the industry has created a self-reinforcing cycle of investment, talent development, and innovation.
United States
The United States remains one of the top regions for pharmaceutical jobs globally, and makes it the largest pharmaceutical market in the world – it was the largest national pharmaceutical market in 2023, making up around 44% of the total pharmaceutical spending worldwide [1]. It remains the worldwide leader in per capita prescription drug spending, representing between 30-40% of the global market [3], but what makes it different to Ireland is that it has several key hubs within the country, representing huge opportunities for life science and pharmaceutical professionals all over the country.
US Key Hubs
These key hubs can be broken down into:
Boston/Cambridge Area
Home to about 82,000 life science professionals
Considered one of the world's best places for top life science talent
Has a high concentration of biotech, pharma, and medical device companies
San Francisco Bay Area
Birthplace of the first biotechnology company
Major hub for biotech and pharmaceutical innovation
New York City/Long Island
Emerging life sciences centre with an impressive 14,000 life science professionals
Home to companies like Regeneron and Forest Laboratories
Philadelphia Area
Growing pharma presence, with companies like GlaxoSmithKline expanding operations
San Diego
Part of the "Biotech Beach" region
Has a significant biotech and pharma presence [4]
Like Ireland, there are several key factors which make the US such a strong player in the pharmaceuticals market, with an expected value of $685 billion attained in 2023. While output has fallen recently due to negative impacts from COVID 19, regulatory changes and tariffs, and the emergence of China as a major player, the US still leads the way in innovation and drug development [5].
US Pharma Advantages
Some of the factors which make the US a superpower for pharmaceuticals are due to the already mentioned drug innovation and research capabilities it possesses, its strong regulatory environment which delivers effective intellectual property protections and transfer policies, and certain market characteristics that are US specific. These are down to a large aging and expanding population, rising income levels, a sizeable and diverse population for clinical trials, and one of the most important drivers based on the previous statements – the willingness of consumers to pay for private healthcare. All of these factors make the United States a crucial and attractive market for the global pharmaceutical industry, and therefore those willing to be a part of it professionally as a career choice.
Other Leading Countries
As the demand for skilled professionals in this field continues to rise globally, the allure of international opportunities becomes increasingly evident. Europe represents the second largest pharmaceutical market globally, with several key countries:
Switzerland
Home to major pharma companies like Roche and Novartis
United Kingdom
Hosts companies like AstraZeneca and GlaxoSmithKline
Germany
Experiencing growth in pharma exports
Denmark
Copenhagen is noted for having good opportunities, especially for English speakers
Netherlands
Cities like Amsterdam and Leiden have growing pharma sectors
Summary
The United States and Ireland stand out as the premier destinations for professionals seeking new or expanding their careers in the pharmaceutical industry. The US, with its robust research and development ecosystem, substantial funding, and home to many of the world's largest pharmaceutical companies, offers unparalleled opportunities for innovation and career growth. Ireland, despite its smaller size, has emerged as a global pharmaceutical powerhouse. Both countries boast highly educated workforces, strong regulatory environments, and significant investments in the sector. With their commitment to innovation, substantial job opportunities, and global industry presence, the US and Ireland provide exceptional environments for those looking to build successful careers in a variety of roles within pharmaceuticals.
Orion Group
If you are thinking of taking your career to the next stage within the Life Science sector, Orion Group is perfectly placed to help you fulfil that goal. With Life Science offices strategically located in Ireland and the US, our recruitment specialists can help you locate the role you are looking for.
Take a look at our current life science roles here: View Jobs
Orion Group, as one of the leading life science recruitment agencies, specialising in connecting talented individuals like you with leading companies that value your specific expertise. By registering your CV with us, you’ll gain access to a wide range of life science jobs, ensuring that your skills and experience are matched with the right role.
