The life sciences industry comprises companies operating in the research, development and manufacturing of pharmaceuticals, biotechnology-based food and medicines. The total life science sector in Ireland exports more than €45 billion annually, employs 50,000 people directly and includes six out of the top seven diagnostic companies in the world.
Over the last 50 years Cork, in particular, has become a major hub for pharmaceuticals (Pfizer opened in Ringaskiddy in 1969) and Galway has developed a strong cluster in medical devices (Boston Scientific opened in early 1990s). Now there are more than 150 companies, in a highly regulated environment, directly employing more than 30,000 people, with Ireland being the third largest exporter of pharmaceuticals in the world.
All areas of life sciences are experiencing all-time-high levels of demand in Ireland at the moment. Pharma, medical devices, biomedics, biologics and medtech are the main areas. Another positive for Ireland is that there is a good spread around the regions, as many of the main players have substantial operations outside of Dublin.
Long-term investment
Practically every county has a significant employer in the life sciences sector. In turn, most of the regional colleges and universities have developed courses in the sector, ensuring a strong talent pipeline. Many of the companies have manufacturing operations which are highly capital intensive, so are likely to be a long-term investment.
Adrian McGuinness, chief executive of Sigmar Recruitment, explains that the mix of companies has grown over the years. “Initially because of the capital required, most were multinationals coming to Ireland. But as Irish employees became more experienced quite a few Irish start-ups arose, some of whom in turn became significant multinationals. Equally, as the third-level institutions developed more courses in life sciences, and capital became easier to access, many Irish professionals have set up a variety of businesses in laboratories, technology, manufacturing and even distribution in the sector.
“The sector leans towards scientific and engineering roles. Laboratory technicians, process engineers, quality engineers are very much in demand. But most companies require the full gamut of support functions, so HR, accountants, legal and administration also benefit,” he added.
While many of the roles demand degree-level education, there are also many jobs for technicians, which require certificate/diploma level, but are also very appropriate for apprenticeships. This may be one of the big opportunities to really scale up apprenticeships in the sector and giving more opportunity across the workforce.
“Ireland has always maintained a relatively high-quality education to deliver, but as mentioned we have to keep working at this. Certainly, apprenticeship programme could be ramped up to ensure talent is sustainable in Ireland. Industry and academia have worked well together to keep the education relevant and current. I feel other countries have also improved their education as well, so Ireland needs to continually improve and maintain our high level of education,” says McGuinness.
Because of demand, this is a well-paid sector. The large companies are very valuable and Ireland has continued to attract higher-value roles, so it compares favourably with IT and finance as lucrative sectors. Even for more senior roles, share options have become a feature and compare well with that technology sector.
On the technical side, people could start at technician level, and education is encouraged to move to engineering level and then often management. Also, there are options to move into other areas such as sales or specialist management. Opportunities are strong in the area as it grows and most companies are very focused on education and learning and development (L&D), so it is attractive to develop professionally domestically and also to travel internationally.
Job hopping
Job hopping has increased in all sectors, but relatively this phenomenon tends not to be as high in life sciences. Maybe because in Ireland the plants are based around the country, so moving jobs usually involves relocation. Also because the companies have strong education/L&D many employees are often in the middle of some development programme. There are overseas opportunities too, but also Ireland has probably been successful in attracting candidates from Europe.
The usual benefits at professional level include pension, healthcare, education support. Also in recent years the multinationals are offering share options. Many smaller start-ups are beginning to offer some equity participation at senior level to compete with this.
McGuinness concluded: “It has been and is a really important sector for employment in Ireland. We now have developed deep roots and expertise to allow these businesses to continue their growth in Ireland. For example, regulation is very important in the sector and Ireland has established itself with talent and support expertise to offer an excellent location in terms of regulation.
“Our membership of the EU is really important in this regard, and in the context of Brexit, creates potential opportunities. The elements that made this a success in Ireland, including talent, do need to be constantly reviewed and improved as it is a competitive international landscape.”