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Life Science Hiring Index Highlights Growth In Medical Device Jobs
The ZRG Global Life Science Hiring Index showed a meaningful jump in the first quarter of 2011 with the index position posting a 14.5% increase in new hiring opportunities worldwide. Overall, the outlook for the global markets shows optimism and needs for talent as the Index jumped from 67.5 to 77.3. While all three major regions showed increased hiring this quarter, EMEA led all geographies with 28% quarter to quarter increase in hiring opportunities. Of the three life science sectors tracked, Medical Device and Diagnostics took a leading position in growth this quarter with a sizzling 33% increase in hiring from the fourth quarter results.
There is positive news emanating from the Medical Device Jobs market. Of the three life science sectors tracked, Medical Device and Diagnostics took a leading position in growth with a sizzling 33% increase.
The story of the quarter is the return to hiring in the Medical Device and Diagnostics sector. This area showed a 33.87% increase in hiring for this period. In real job terms, just looking at index companies, 1800 new jobs were posted during the period. Pharma showed a moderate 2.3% increase in the quarter and seems to be basically flat, with the exception again of increased demand in this area for Regulatory, Quality and Clinical talent. The CRO sector dropped 7.8% during the quarter after a spike in new hiring in Q4 2010.
While all three major geographic regions amped up hiring, EMEA led all geographies with a 28% quarter-to-quarter increase. After a sizable drop in new roles in Q4 2011, EMEA has opened the doors once again for hiring, with a sizable 28.24% increase in overall new employment opportunity. The overall hiring level in EMEA has hit a new overall high in the region since the index launch. Following close behind, the Asia Pacific Region is also in a growth mode with 21.31% more new jobs this quarter compared to year end levels. The America’s showed 5.5% overall growth with Medical Devices accounting for much of the increased activity.
Larry Hartmann, Managing Partner of ZRG Partners, said it appears hiring for global life science firms is back in overdrive, driven by Medical Devices and Europe. “After a few quarters of more restrained hiring in the Medical Devices sector, the indicators point to a newfound optimism shown by a 33% increase. Geographically, EMEA showed a meaningful jump in new jobs this quarter across all three sectors, with Asia Pacific close behind,” said Hartmann.
About the Global Life Science Hiring Index
The index utilizes a proprietary algorithm that looks at confidential hiring within selected benchmark companies in three distinct segments: 1) Life Sciences / Pharmaceutical 2) Medical Devices and Supply 3) Outsourcing and Services. The indexed participants represent 30 global organizations widely considered leaders in their respective fields. The companies in the index generate over $634 billion in revenues and employ over 1,300,000 people globally. The ZRG Partners research team conducts extensive direct market research in developing the data that drives the index.
MEDICA.de; Source: ZRG Partners