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The United States is the world leader in pharmaceutical
research, as suggested by data from the Organization for
Economic Cooperation and Development (OECD). The
Industry is “one of the largest employers of scientists in
the United States – and its success or failure relies
heavily on their ability to make breakthroughs”, according
to the Pharmaceutical Research and Manufacturers of America.
The
U.S. Department of Labor and Statistics reports that this
industry -- as well the overlapping, interdisciplinary field
of biotechnology -- rank among the fastest growing industries in the United States. Job growth through
2014 for these industries overall, and for numerous select
occupations ranging from scientific positions to sales to
office/administrative roles, is expected to far exceed the
average growth for all industries combined, according to the
Bureau of Labor Statistics.
The Pharmaceutical Industry Defined
The U.S. Pharmaceutical
industry has achieved worldwide prominence through research
and development (R&D) work on new drugs, and spends a
relatively high proportion of its funds on R&D compared with
other industries. This industry has produced a variety of
medicinal and other health-related products undreamed of by
even the most imaginative apothecaries of the past. These
drugs save the lives of millions of people from various
diseases and permit many ill people to lead normal lives.
The pharmaceutical industry
consists of about 2,500 places of employment, located
throughout the country. These include establishments that
make pharmaceutical preparations or finished drugs;
biological products, such as serums, bulk chemicals and
botanicals used in making finished drugs; and diagnostic
substances such as pregnancy and blood glucose kits. Nearly
60% of all jobs in the pharmaceutical and medical
manufacturing industry are in large establishments employing
more than 500 workers, and earnings are much higher than
those in other manufacturing industries.
The
Biotechnology Industry Defined
Advances in biotechnology and information technology are
also transforming drug discovery and development. For the
purposes of this channel, we primarily emphasize
biotechnology's applications to the research and advancement
of drug therapies for human subjects. However, while
many authorities tend to lump "Pharmaceuticals and
Biotechnology" together as a convenient shorthand to
discuss some areas where the two may be interconnected, most also acknowledge that
referring to biotechnology as a distinct "industry" is something of a misnomer. An inherently
interdisciplinary field, biotechnology brings together
professionals from disparate fields including information
technology, the biological sciences, veterinary and
agricultural research, and more. The Biotechnology
Industry Organization (BIO) suggests the definition "a
collection of technologies" that "capitalize on the
attributes of cells, such as their manufacturing
capabilities, and put biological molecules, such as DNA and
proteins, to work for us."
In any case, within biotechnology, scientists have learned
a great deal about both human and non-human genes, but the real work –
translating that knowledge into both viable new drugs and
non-drug therapies – is just beginning. Many new drugs
are expected to be developed in the coming years.
Where it once took 15 years to develop a new drug, advances
in technology and the knowledge of how cells work have
allowed researchers to shave years off that incubation
period. New technology allows life scientists to test
thousands of drug candidates in a single day.
According to BIO, there were 1,415 U.S. companies in this
amorphous industry at the end of 2005, and there are more than
400 drugs and
vaccines currently in clinical trials targeting diseases
such as Alzheimer’s, AIDS, arthritis and diabetes.
Consumers are already enjoying biotechnology foods such as
soybean and corn. Many environmental biotechnology products
are used to clean up hazardous wastes without the dependence
on harmful chemicals. DNA fingerprinting, another biotech
process, has made a dramatic impact on forensic medicine,
anthropology and wildlife management.
Jobs' Growth
and Outlook Summary
Because so
many of the products generated in the biotechnology industry and
pharmaceutical and medicine manufacturing industry are
related to preventive or routine healthcare, rather than
just illness, demand is expected to increase as the
population expands. Even during fluctuating economic
conditions, there will be a market for over-the-counter and
prescription drugs, including the diagnostics used in
hospitals, laboratories, and homes; the vaccines used
routinely on infants and children; analgesics and other
symptom-easing drugs; and antibiotics and “miracle” drugs
for life-threatening diseases. The growing number of older
people who will require more healthcare services will
further stimulate demand – along with the growth of both
public and private health insurance programs, which
increasingly cover the cost of drugs and medicines.
Other factors expected to increase the
demand for drugs include greater personal income, the rising
health consciousness and expectations of the general public
and a more industry-friendly regulatory environment that has
streamlined the FDA approval process for “priority” drugs –
those the FDA concludes are potentially life-saving
treatments.
As a result, the number of wage and salary jobs in pharmaceutical and
medicine manufacturing is expected to increase by about 26
percent over the 2004-14 period, compared with 14 percent
for all industries combined. Specific needs exist for chemists and other
scientists, as well as those with a science background to
serve as pharmaceutical representatives. More
detailed information is available on the following pages
of this channel.
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