Employment in the biotech industry is not going to recover anytime soon, and no, it’s not just another market fluctuation. This is a profound change in the very foundations of the sector. Investment in biotechnology is no longer as widespread as in previous years. Investors have changed their approach and instead of investing in “a little bit of everything”, capital now goes selectively, targeted and with much stricter criteria. Biotech companies that have survived waves of uncertainty and falling funding can no longer afford to waste resources. Those who want to survive and grow must be focused, rational and specialized, and the same goes for those who are looking for a job.
Employment in the biotech industry is not going to recover anytime soon, and no, it’s not just another market fluctuation. This is a profound change in the very foundations of the sector. Investment in biotechnology is no longer as widespread as in previous years. Investors have changed their approach and instead of investing in “a little bit of everything”, capital now goes selectively, targeted and with much stricter criteria. Biotech companies that have survived waves of uncertainty and falling funding can no longer afford to waste resources. Those who want to survive and grow must be focused, rational and specialized, and the same goes for those who are looking for a job.
Biotech Job Market
One of the key indicators of change is the situation on the labor market. While funding is expected to recover slightly, employment levels from 2021 are unlikely to return. The entire business model has changed, which will make changes in the biotech market in the long run. We are no longer just talking about a temporary “funding winter”, but about a structural reset of the entire biotech industry.
In practice, this means that experts and all those who are part of the biotech market, and are looking for a job, will have to study the job offer in more detail. It is no longer and will not be enough to send applications blindly, but the individual must turn to a narrow specialization, since only it can provide him with a new and quality job. Job targeting and focus on career building are becoming crucial, and the job search strategy must be as precise as ever.
Focus on sustainable and efficient
Currently, all those who are looking for a job should think like investors, since that is the best chance that they will find a job. In your strategy of finding a job, you should primarily include those that show a tendency towards sustainability and efficiency. The biotech market is in crisis and one should pay attention to the long-term nature of the project it is joining. If we had to single out which are currently attractive projects and companies to target, we would mention the following:
- early-stage startups that have a differentiated technology or platform
- Companies that integrate artificial intelligence into research
- more mature biotech companies with quality clinical data and clear regulatory pathways
- projects in therapeutic areas with great potential – such as oncology, immunology, neuroscience, metabolism and rare diseases
Cutting costs – the only help with sustainability and new employment
Declining investments in the Biotech sector are a great challenge for all market players, both small and large. Without new investments, there are no new hires, and the only way to reduce existing costs is to use all the opportunities that the market offers. Currently, the startup Wasteless.bio is the one that offers concrete solutions to reduce operating costs.
In times when every euro invested needs to be well justified, this platform allows biotechnology and research centers to buy high-quality, unused laboratory equipment at significantly lower prices. Instead of valuable equipment sitting unused in warehouses for years or being discarded, Wasteless.bio connects it with laboratories that really need it. Such a model not only helps to save budgets, but also contributes to sustainability and a more rational use of scientific resources. At a time when many biotech companies are struggling to survive, it is platforms like this that make the difference between stagnation and leapfrogging.
The recovery of biotechnology is coming, but it will not be broad and comprehensive. It will be precise, almost surgical. And this means that professionals who want to succeed must also adapt to this reality and that they will have to be informed, focused and ready for change. The biotech industry as we knew it is changing. Those who recognize new laws and apply new methods of work as well as new innovative platforms, both companies and individuals, could come out of this crisis stronger than ever before.
