The Top 5 Countries for Pharmaceutical Jobs
Of course, there are 195 countries in the world; we won’t be looking at all of them today! We’ll just be looking at 5 countries that are widely considered to be the 'best' countries in the world for pharmaceutical professionals looking to develop their careers.
1) United States
It is well known that the US boasts a booming pharmaceutical business. Unlike most developed nations, the USA does not have free universal healthcare; instead, most Americans rely on private insurance to cover the inflated costs of medications and treatments. Thanks in part to this system, the US pharmaceutical market was worth more than 530 billion dollars in 2020; in fact, the US pharmaceutical market accounts for 45 percent of the global market. It's definitely one of the international powerhouses of the pharmaceutical industry.
Germany is widely considered to be one of the fastest-growing markets for life sciences in Europe. Germany is a real hotspot for new technologies and innovations within the pharmaceutical industry, as they receive annual federal funds for such purposes; in fact, over 1,000 medical technology patents were granted there in 2020. In 2020, the country's market revenue for pharmaceutical products passed thirty billion euros, and that was just for prescription-only products! The current rate of growth is rapid compared with previous years, and it's not expected to slow any time soon.
While not necessary considered a traditional contender against big dogs like the US and Germany, India is actually the largest provider of generic drugs globally. On top of this, the domestic market is expected to triple over the next ten years, from $42 billion to $130 billion. India's rapid growth and development within the pharmaceutical industry is impressive, so this is definitely a country to keep your eye on!
The Swiss are known around the world for their contributions to the life science industry. Switzerland provides over 50,000 jobs from related industries, and while this might not be as many as other top countries, they have other strengths too. Switzerland is home to a number of innovative pharmaceutical firms, including Novartis, Roche, and Syngenta.
Another defining feature of the Swiss pharmaceutical industry is how it stands out for its internationality; 98% of its turnover is made abroad, making chemical-pharmaceutical products the most important exported goods in Switzerland.
5) United Kingdom
The UK is the home of many multinationals such as AstraZeneca. The pharmaceutical industry within the UK employs over 250,000 people and generates over $107 billion each year.
In many rankings, the UK has been affected by issues such as Brexit, which is projected to have adverse effects on the pharmaceutical industry as a whole. However, following the coronavirus pandemic, in 2021 the government announced a bold ten-year plan for the industry, resolving to deliver innovative, life-changing treatments to patients with conditions like cancer and dementia. This announcement has left people with feelings of hope and excitement for the future of the life sciences within the United Kingdom.