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Why biopharma industry is experiencing a talent crunch, HR News, ETHRWorld


hr.economictimes.indiatimes.com | www.ETHRWorld.com

Highlights

  • India’s bioeconomy is estimated to have crossed the $92 billion mark by value in the year 2022.
  • As per Cytiva’s global survey findings, there has been a decline in the overall resilience of the talent pool, with the score falling from 6.27 in 2021 to 5.60 in 2023.

<p>For talent, the biopharma sector's spark may lie in its impact – developing life-saving drugs that directly improve wellbeing.</p>
For talent, the biopharma sector’s spark may lie in its impact – developing life-saving drugs that directly improve wellbeing.

India’s biotechnology industry is on a rising stage. It has become the 3rd largest destination for biotechnology in Asia Pacific. India’s bioeconomy is estimated to have crossed the $92 billion mark by value in the year 2022, and is now forecasted to reach $150 billion by 2025, and $300 billion by 2030.

But beneath this growth lies a lurking shadow – a talent shortage threatening to dim the industry’s bright future. Even Cytiva‘s Global Biopharma Resilience Index paints a stark picture, highlighting a critical skills gap as a major roadblock for India’s biotech aspirations.

The talent crunch manifests in various ways. A significant portion of the current workforce lacks specialised skill sets required for high-end research and development activities….


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