Medtech-focused recruitment consultant Ivor Campbell casts his eye over the profiles the global medtech industry needs most today. Campbell argues that while specialist scientists and engineers remain as important as ever, medtech lacks leaders with the commercial acumen and results-driven mindset to turn innovation into profitable and sustainable ventures.
The medtech sector is experiencing rapid growth, fuelled by technological advancements, evolving healthcare needs, and regulatory changes. This expansion translates into a burgeoning job market with a wealth of employment opportunities.
And yet, despite the near-unprecedented demand for qualified professionals, progress is being stalled by a skills shortage across a wide range of disciplines.
As a recruitment consultant who has worked in the sector for more than two decades, I am frustrated by the failure of the industry to address two fundamental issues.
The first is to match the advancements made in particular areas of expertise with a supply of suitably qualified candidates. This seemingly intractable problem suggests a disconnect between industry and higher education and a lack of consultation at the government and institutional level.
The second issue, which is more structural and cultural, relates to a general lack of commercial awareness and understanding across the industry. In short, the medtech sector is dominated by very clever scientists who are very bad at converting their ideas into marketable products and services.
There are many roles that shape the medtech landscape. Here are five that we need more of right now.
- Biomedical engineers: These professionals bridge the gap between engineering and medicine, designing and developing life-enhancing devices. Strong technical skills in engineering principles, coupled with an understanding of biological systems and healthcare needs, are essential. A relevant degree and potential chartered status are typical requirements.
- Quality assurance technicians: As the medtech industry operates under increasingly stringent regulatory standards, quality assurance technicians play a crucial role in ensuring compliance. They conduct quality control checks, implement quality management systems, and stay abreast of evolving regulations. A degree in life sciences or medicine is beneficial, while strong analytical and problem-solving skills are essential.
- Medical device software engineers: These professionals are at the forefront of developing and maintaining the software applications that are becoming ubiquitous in medical devices. Proficiency in programming languages like C++, Java, and Python, alongside a solid understanding of medical device regulations, are crucial. A computer science degree is often preferred but not mandatory.
- Clinical research associates: Responsible for managing clinical trials for new medical devices, these professionals assess the safety, efficacy, and benefits of these technologies. Strong knowledge of clinical research principles, regulatory guidelines, and ethical considerations is vital. A life sciences degree and hands-on experience in clinical research are highly valued.
- Biostatisticians: Employing their statistical expertise, biostatisticians analyse data from clinical trials and assess the performance of medical devices. They contribute to evidence-based decision-making, ensuring patient safety and treatment efficacy. A master’s degree or PhD in biostatistics or a related field is typically required, along with proficiency in statistical software packages.
These five roles represent a snapshot of the diverse and rewarding career paths within the rapidly evolving medtech sector. As technology continues to advance and healthcare needs evolve, the demand for these skilled professionals will only continue to grow, offering promising career prospects and the opportunity to make a tangible difference in healthcare.
The most in-demand skills are not necessarily technical, but the link to commercial acumen and a results-oriented mindset really matters.
Bridging the gap between science and business
Finding individuals with advanced degrees or specialised scientific knowledge is surprisingly straightforward. The difficult part is identifying those who can translate their knowledge into profitable ventures.
While technical expertise is essential, it’s the ability to navigate the complexities of the market, understand regulatory hurdles, and ultimately generate revenue that truly sets candidates apart.
When we look for the ideal CEO to run a medtech company, it’s the proven track record of turning scientific innovation into financial success that reigns supreme. Investors and stakeholders are more concerned with a CEO’s ability to secure funding, manage cash flow, and ultimately deliver returns, regardless of their scientific background.
This prioritisation of commercial experience reflects the inherent risk associated with these sectors. Many talented individuals spend their careers in medtech, without ever working for a company that turns a profit. This reality underscores the need for leaders who not only understand the science, but also possess the business acumen to navigate the challenging path from innovation to marketability.
Soft skills and the importance of teamwork
The importance of soft skills, particularly the ability to work effectively in teams, cannot be overestimated. Even within research-driven environments, collaboration is key to achieving meaningful results.
This emphasis on teamwork extends beyond the lab bench. The ability to lead, inspire, and motivate others is crucial for those aspiring to managerial and executive positions. This requires individuals who can not only manage technical complexities, but also navigate the nuances of interpersonal dynamics and foster a cohesive and productive work environment.
This is underscored by the increasing demand for professionals with statistical analysis skills, highlighting the growing importance of data-driven decision making within the medtech industry.
Understanding and interpreting data is essential for ensuring products meet regulatory standards, achieving statistical relevance in clinical trials, and ultimately, achieving commercial success. In other words, it is a skill set too important to be left entirely to statisticians.
Balancing academic pedigree with real-world application
Companies face a challenge in seeking a balance between academic credentials and real-world experience. While advanced degrees demonstrate a depth of knowledge, they don’t necessarily translate to practical application or an understanding of the commercial realities of bringing a product to market.
Individuals with PhDs or other advanced qualifications often excel in research-oriented roles, but they may struggle with the transition to management or leadership positions requiring a different skillset. This underscores the need for both individuals and academic institutions to bridge the gap between theoretical knowledge and practical application.
Incorporating business courses into scientific curricula or encouraging internships within industry settings can better prepare graduates for the commercial realities of the medtech sector. Similarly, companies can benefit from providing mentorship programmes and professional development opportunities, to help technically minded employees develop the leadership and business skills needed to advance within their organisations.
Strategies for success
Here are some takeaways for both companies and job seekers navigating the evolving talent landscape of the medtech, biotech, and pharmaceutical industries:
Embrace the commercial imperative: Companies should prioritise candidates who demonstrate a clear understanding of the commercial aspects of bringing a product to market. This includes experience with regulatory pathways, market analysis, and a proven ability to drive revenue generation.
Develop soft skills: Both individuals and organisations should invest in developing strong communication, teamwork, and leadership skills. These qualities are essential for effective collaboration, successful product launches, and ultimately, a thriving company culture.
Seek real-world experience: Academic achievements are valuable, but practical experience is equally crucial. Internships, industry collaborations, and mentorship programmes can bridge the gap between theoretical knowledge and real-world application.
Embrace continuous learning: The medtech landscape is constantly evolving. Individuals should seek opportunities to expand their knowledge base, whether through formal education, industry events, or professional development programmes.
While technical expertise will always be essential, it is the ability to translate that knowledge into tangible commercial success that will define the next generation of leaders in these dynamic and rapidly evolving industries.
