Back to Blogs

BioTalent's Commercial Market Snapshot - 2023

Business Development. Marketing. Sales. While change is guaranteed in most areas of the life sciences, demand for the commercialisation of new products will not relent. As the wider market twists and turns (and significantly dips in some cases), commercial talent has remained a key target for many companies in the pharma and medtech space.

The maturing of SMEs is one explanation for this – historically, we’ve seen a wealth of commercial talent bounce between the larger pharma companies (AstraZeneca, GSK, Roche, etc.), talent that growing SMEs now have the resources to employ.  

A host of compounding facets have irrevocably changed the way that companies approach commercialisation. From the post-COVID tailwind to the infinite digital revolution, the methodologies used to market products and build brands must evolve to drive better business outcomes.

As employers start to combine roles and responsibilities, candidates are often required to wear a range of different hats, especially in the marketing space. This is not an entirely new concept however – areas like medical affairs already form a neat intersection with marketing and brand management.

Fewer new developments and a greater need to maximise cash flow are continuing to drive demand in the commercialisation sector, a prevalent reality we’ve noticed in key hubs such as London, Zurich, Basel, Dusseldorf, and Munich.

To increase internal diversity, establish a stronger brand presence on the global stage, and widen the talent pool, we have seen companies across Europe invest more resources into international hiring.

Candidate Trends

There is an ongoing battle with salaries in the commercial space, and it’s proven to be a real challenge for both candidates and clients alike. There is such a large difference in price points between senior brand managers in particular, giving rise to a consistently lucrative market.

We have seen an increase in the number of candidates wishing to make the switch to a commercial role from outside of the life sciences recently, notably in the German market. Candidates from the automotive and tech industries are often interested in making the leap into the life sciences, but employers are prioritising looking for candidates with direct life sciences experience (oncology remains among the most coveted skill sets). In many cases, this makes using a specialist recruiter an enticing option.

That said, we are noticing fewer applications come through as candidates become far more thorough in their decision-making process. Questions about company strategy, growth, and investment are commonplace in the modern talent market.

Why Candidates Move

  • For hybrid working opportunities (still the preferred model over fully remote and in-person)

  • For the chance to work internationally

  • To move into an SME environment

  • For a chance to work closely with the wider decision-making process

  • To work marketing new products in emergent sectors

If you’re hoping to embark on a fulfilling career in the life sciences commercial space, the team at BioTalent are happy to connect you with an opportunity that suits your unique needs. Reach out to the team to learn more about our marketing-leading, diversity-focused recruitment methodology today.