What is the state of the MedTech job market?
Clients ask as a means of understanding what the potential talent pool looks like and what they may need to do to attract and retain talent. Candidates ask as means of learning how attractive they may be to potential employers and opportunities to advance both in role and compensation.
Thus far in 2015, we have seen a vigorous job market with employers looking for talent across marketing, sales, regulatory, clinical, engineering and general management. This activity is being driven by many factors. Some of those are due to baby boomers moving into retirement, economic expansion and new start-ups in the MedTech space. Perhaps one of the more interesting trends is the growth of digital healthcare innovations.
We at Finnesse are excited by the array of technology companies developing new solutions to better monitor our health and improve our lives as well as developing solutions to better predict potentially life threatening scenarios such as sudden cardiac arrest. Imagine a world where your Fitbit or iWatch could monitor your blood sugar or predict when you might have a heart attack.
What’s really interesting is that this activity is spread from start-ups in incubators such as Treehouse Health all the way to tech giants such as Google and Apple.
In our view, this has increased demand for those with demonstrated MedTech skills across all functions. The uniqueness of our industry and the need for these non-traditional competitors to understand a wide array of regulations, laws, medical terminology, healthcare reimbursement, and a host of other MedTech business issues is driving this heightened demand.
So in short, we anticipate that 2015 is going to be an exciting year in the MedTech employment market with a particular need for top talent that understands the intersection of digital technology and the potential to improve and extend human lives.