Drug Developers

Most experts agree that experienced research and development professionals should have plenty of career opportunities with pharma/biotech companies in the coming years. More illnesses are being treated with drug therapy, particularly among elderly patients. As the average age of the population increases, pharmaceutical sales will increase, allowing companies to spend more on research and development. There are also record numbers of drugs being developed for mental health disabilities. Many drug companies will also be focusing on gene therapy, immunotherapy, and ethnobotany (the study of medicinal plants). According to the U.S. Department of Labor (DOL), employment of medical scientists and biochemists who work in pharmaceutical and medicine manufacturing is projected to grow 5.5 percent from 2023 to 2033, faster than the average for all occupations. "The aging population will drive demand for new drugs and procedures to prevent, cure, or manage disease," according to the DOL. "This increased demand is, in turn, likely to create demand for biochemists and biophysicists involved in biomedical research. For example, biochemists and biophysicists will be needed to conduct genetic research and to develop new medicines and treatments that are used to fight genetic disorders and diseases, such as cancer. They also will be needed to develop new tests used to detect diseases and other illnesses."

Job competition may be affected by the downsizing of large pharmaceutical companies and by smaller biotech companies laying off employees.