The UK biotechnology sector is undergoing significant change as 2024 ends, driven by increased corporate venture capital and private equity funding. This financial boost has spurred activity, with investments in startups and scaling initiatives creating new jobs despite lingering post-COVID challenges.
The Swiss life sciences industry, despite a challenging dip in job vacancies in 2023 (down by 31.4%), shows a robust rebound in 2024, with vacancies projected to rise by 24.1%. R&D roles have been notably active, reflecting global trends and a renewed push in innovation.
The UK pharmaceuticals sector is recovering from its post-pandemic slowdown, with a focus on addressing the backlog of drug approvals by the MHRA. As approvals accelerate, pharmaceutical manufacturing is ramping up, contributing to an 8.8% increase in engineering vacancies in 2024 compared to last year.
The 2023 year saw a dip across both DACH and BENELUX regions, reflected by the EU data. DACH has kept higher numbers than BENELUX since the start of 2022, but this gap is now shortening whilst still being apparent. So far, the first half 2024 is projected to see lower volumes than the full-year estimate.
The UK’s political landscape is particularly noteworthy with Europe facing a series of summer elections. If it gains power, the Labour Party has explicitly stated its intention to improve trade relations with the EU. Although specific plans have not been detailed, any shift in this direction could alleviate the sectoral dampening caused by Brexit.
