The industry’s explosive growth is putting a lot of pressure on biotech organizations to expand to keep up with the demand. In the United States, the growth can be attributed to the Food and Drug Administration’s fast-tracking of medications that treat serious medical conditions, as well as fulfill unmet medical needs.
Powered by the need to bring these kinds of medications to the market a lot quicker and the innate opportunities in this type of environment, small or startup biotech firms are rising up to the occasion and putting more competitive pressure on more prominent companies in the industry. To prove it, recent studies suggest that 51% of Chief Executive Officers in the pharmaceuticals and life science industries are having problems retaining and attracting the right individuals.
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Hiring obstacles for biotech firms
The growth of this industry has created …