MedTech – UK Life Sciences Labour Market Trends, October 2023
Scientific Recruitment on the rise within Medtechs
Key findings include:
- 2023 is set to witness a substantial 27.9% increase in vacancies compared to 2019
- The North is the fastest-growing region, with a 24.7% increase in vacancies YOY
- Project management roles are set to see a substantial increase of 136.2% in 2023
- Convatec is one to watch, with a 230% increase in scientific vacancies
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When analyzing trends in Med Tech, we see 2023 is set to witness a substantial 27.9% increase in vacancies compared to 2019, indicating steady and robust growth. Similarly, in 2023, scientific jobs are projected to represent a 21.2% share of all vacancies, marking a notable improvement compared to the 14.2% share recorded in 2022, according to the latest Life Sciences Labour Market Trends report by CPL and market data analysts Vacancysoft.
Yvette Cleland – CEO – CPL – comments:
“With approximately 30 million people living with long-term health conditions in the UK, there is a high demand for medical devices. As healthcare systems continue to search for innovative solutions to address diseases and medical conditions, the MedTech industry is undergoing dynamic growth.”
Historically, the South region has been the most active for recruitment, and this trend continues in 2023. However, there’s a projected 20.3% decrease compared to previous years. In contrast, the North and Midlands regions are seeing growth. The Northern regions have had a 24.7% increase while in the Midlands, vacancies are up 10.3%.
By role, Project management is set to experience a substantial increase of 136.2% in 2023, making it by far the biggest growth area, year on year. Otherwise, Quality assurance roles, despite having the highest total, are projected to see a decrease in their share of vacancies, dropping to 8.1% with a 23.8% year-on-year change.
Finally, looking ahead, as the Med Tech sector is heavily reliant on investment, that being throttled has slowed down hiring, so as it starts again, it will be interesting to see how recruitment picks up. Already Convatec is leading the way, with a 230% increase year on year. Similarly, the forecast is for next year to see a further uplift, as corporate finance picks up again.
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