Between 2017 and 2019, the life sciences sector in Australia grew by a remarkable 16%. Fueled by technological innovation and the growth of the biotechnology and medical device industries, Australia for Lifesciences Talent establishing itself as a global leader in the life sciences and a highly desirable workplace for industry experts.
Here are 6 Reasons that Make Australia for Lifesciences Talent;
1. Technological Progress
Australia’s push for increasingly specialized skill sets is substantially influenced by technological improvements. The advent of health technology and artificial intelligence is assisting the life science sector in gaining a deeper knowledge of what causes certain illnesses, how to detect and diagnose them more accurately, and ultimately how to treat or cure them.
With the advent of wearables and medical mobile applications, the medical device/technology sector is making significant progress in this field. These gadgets allow the life sciences industry to collect an unprecedented quantity of data from patients on their diseases, adding to the escalating flood of big data. Medical device and health technology businesses may now analyze this data to search for new illness trends and potentially identify new disease indications thanks to artificial intelligence.
Therefore, there is a significant increase in demand for life science specialists in these expanding fields. In Australia, we say that Australia for Lifesciences Talent, the collecting of enormous quantities of patient data from both medical technology and early-phase clinical trials raises cyber security concerns.
This necessitates the assistance of specialized software engineers and IT security specialists in the development of a stable and safe infrastructure to accommodate the ever-increasing data volume. Bioinformaticians and data scientists are in increasing demand to assist businesses in understanding and interpreting biological data.
As an established biotechnology center that is gaining strength and a rising force in medical devices and health technology, Australia for Lifesciences Talent offers numerous opportunities for people eager to further their careers and specialize in these interesting industries.
2. World-Class Centers for Life Sciences
The majority of life science businesses listed on the Australian Securities Exchange (ASX) are located in Melbourne, the state capital of Victoria, which is one of the top five biotechnology hotspots in the world. Victoria and New South Wales, notably the region’s capital, Sydney, account for 73% of the 243,406-strong workforce, which consists of enterprises, government, and regulatory agencies, funding organizations, research institutions, and support services.
While Melbourne is the center of biotechnology discovery, with a thriving market for cell and gene therapy, Brisbane is becoming renowned as a growing medical device and medical technology hub. In the next years, these expanding areas will present several interesting chances for life science experts to be at the forefront of innovation.
3. Encouragement of Research and Innovation
A number of extremely inventive biotechnology and health technology businesses, both domestic and international, have established themselves in Melbourne, Sydney, and Brisbane as a result of government R&D tax advantages and the generous funding of Australia’s world-famous regulatory organizations.
Leading worldwide life science organizations, such as AbbVie, Johnson & Johnson, and IQVIA, offer thousands of career opportunities for life science workers. However, an incredible pool of indigenous talent is starting to influence the sector.
Australia for Lifesciences Talent such as CSL, Polynovo, and Viralytics has developed exponentially over the last several years, with little indication of stopping. MSD, a renowned global life science business, acquired Viralytics in 2019, which would increase financing for the company’s research into producing viruses that infect and destroy cancer cells.
Numerous more small and medium-sized pharmaceutical, biotechnology, and medical device/technology firms are forming partnerships with multinational life science corporations, such as Roche and Siemens Healthcare, to aid in the maturation of these sectors in Australia. Life science experts seeking employment in biotechnology and medical technology will discover a wealth of opportunities here.
Melbourne is also a fantastic place for academics, garnering the majority of Australia’s annual medical research funding (roughly US$370 million). In fact, Melbourne is one of only three global cities with two institutions ranked within the top 20 for biomedical research.
4. It has a robust economy (with plenty of jobs for healthcare professionals)
The stable democratic government and highly trained labor force of Australia make it one of the world’s highest-performing economies and Australia for Lifesciences Talent.
According to the Australian government, its economy is the fourth biggest in Asia and the twelfth largest in the world. The nation boasts a low unemployment rate, low inflation, and a very open and transparent economic climate. It was one of the few nations to emerge unhurt from the 2008 global economic crisis.
It is presently in its 27th year of uninterrupted development! This equates to around 1,7 million healthcare workers in 2017, an 8% increase over 2016. The Australian government anticipates a 16.1% increase in healthcare expenditures over the next five years. As a large number of these employees are over the age of 55, there will be enough chances for healthcare professionals with international training during the coming decade.
5. Outstanding healthcare system
Australia has one of the greatest healthcare systems in the world. Medicare is a national, tax-funded health insurance program that covers all Australians.
Australia’s population is healthier than the average of the Organization for Economic Co-operation and Development (OECD) because of this system. Men in Australia have the fifth highest life expectancy in the OECD, while women have the eighth highest.
To meet the growing demand for medical services, the healthcare system is continuously hiring physicians, nurses, and other healthcare workers.
6. A wonderful environment
When one considers Australia for Lifesciences Talent, frightening spiders, and venomous snakes spring to mind. However, the nation is home to a vast array of animals and vegetation. It possesses over 10% of the world’s biodiversity, with over 80% of its animals, reptiles, frogs, and flowering plants being endemic.
The Lucky Country is home to around 140 species of marsupials, including over 50 kinds of kangaroos (and not all of them hop across the ground). These and many more creatures may be seen in Australia’s huge nature reserves, which cover over 18% of the country’s total area.