MedTech Talent Analysis 2023
The Medical Devices Industry is experiencing a significant transformation due to technological advancements and the growth of information through IoT and Big Data. The industry is expected to grow from $550 billion in 2021 to $700 billion by 2027. This growth has resulted in an increase in job openings, with 337,300 open positions in the industry.
Some of the in-demand roles include Business Analysts, Full Stack Analysts, Data Analysts, Pricing Analysts, Financial Analysts, Data Scientists, Product Managers, and Program Managers. Reskilling is vital for the industry to address the talent gap, provide viable career paths for disrupted roles, reduce costs, and increase employee satisfaction.
The reskilling/upskilling process can take 3-6 months, with possible transitions from roles such as IT Administrators, Systems Administrators, and SQL Developers into new-age digital roles like Principal Data Scientists, ML Engineers, Product Managers, and Big Data Developers.