Are you wondering how many jobs are available in major pharmaceuticals?
One of the industries with the highest salaries is the pharmaceutical sector. The pharmaceutical industry is in charge of creating medicines for society and carrying out medical research to develop modern medicine. They have several well-paying employment positions, some of which don’t even call for education or prior work experience.
Consider working in pharmaceuticals if you’re searching for a well-paying position and wish to work in healthcare or medicine.
But before we dive in and answer how many jobs are available in major pharmaceuticals, we must take a closer look into this industry.
What Is The Major Pharmaceutical Industry?
The top corporations in the pharmaceutical sector are known as major pharmaceutical. These businesses create and promote the medications and biologics used to treat various medical diseases.
Major pharmaceutical corporations are also a crucial component of the healthcare system because they employ people in production, sales, research, and development.
How Many Jobs Are Available In Major Pharmaceuticals?
So, how many jobs are available in major pharmaceuticals? The pharmaceutical industry, one of the world’s biggest and most diversified industries, provides many employment opportunities.
The U.S. Bureau of Labor Statistics estimates that more than 5 million people are employed in pharmaceutical manufacturing, research, and development.
Additionally, about 500,000 people are hired by retail pharmacies, wholesalers, and distributors of pharmaceuticals. These jobs typically pay around $70,000 annually, while some make more than $100,000.
So, how many jobs are available in major pharmaceuticals? Here are a few examples of the jobs that are available in this sector:
Average Salary: $128,000
The medical practitioners that sell and deliver pharmaceutical medications to patients are called pharmacists. These people ensure that patients receive the correct drugs and dosages on schedule, without any issues.
They also help their patients grasp the information on the medicine labels to choose the best course of treatment for themselves.
A pharmacist is consulted regarding treatments and medications and should ensure that all safety precautions are followed.
Average Salary: $102,000
Biophysicists are the scientists in charge of examining the biochemistry of live cells. These scientists investigate how cells respond to stimuli and how to alter them to benefit humans in laboratories, hospitals, and universities.
The typical focus of biophysicists is physiology and biochemistry rather than a particular disease or sickness.
Average Salary: $60,000 to $100,000
Chemists are in charge of creating, manufacturing, and purifying chemicals. They manage the inventory, test the products, and check the quality of the raw materials.
They frequently collaborate with other chemists and technologists to create new goods utilizing formulations that have already been created or formulas that have been modified by adding or deleting ingredients.
Average Salary: $131,000
Another field that comes to mind when considering how many jobs are available in major pharmaceuticals is Bioinformatician.
Biotechnology, biochemistry, and bioengineering specialists are called “bioinformaticians.” High levels of biological and computational scientific competence are needed for the work, along with a solid grasp of arithmetic and computer science.
Average Salary: $79,000
Radiopharmacists ensure that imaging and spectroscopic techniques are used in diagnostic and therapeutic procedures safely and efficiently. Additionally, the specialization is crucial in handling cancer patients who need proton therapy or radiation therapy delivered by a proton beam.
Radiopharmacists conduct clinical studies to assess the safety and effectiveness of novel cancer-treating medications and equipment.
6. Medical Scientists
Average Salary: $72,000 to $94,000
Another sector you could look into when considering how many jobs are available in major pharmaceuticals as medical scientists.
Medical scientists lead pharmaceutical development and research. They are in charge of creating new pharmaceuticals and medical equipment, enhancing current therapies, and figuring out novel means of preventing, diagnosing, and treating illnesses.
Clinical trials and consulting for pharmaceuticals are typical jobs for medical scientists. Some might work as medical professors or in other capacities at academic institutions.
7. Physician Assistants
Average Salary: $121,000
Physician assistants (PAs) are medical professionals with extensive training in primary care. They undertake physical examinations, prescribe prescriptions, request diagnostic testing, and refer patients to experts. Patients are also advised on self-care and preventing disease by physician assistants.
8. Sales Representative
Average Salary: $62,000
Sales representatives sell pharmaceuticals to physicians and other healthcare professionals. They visit different places, including hospitals and clinics, to convey information about their goods and services.
Additionally, they might need to show up for training or complete requirements. Although some businesses offer commission-based income as a reward for reaching particular sales goals or targets, sales reps are primarily salaried workers who put in full-time hours.
Pros and Cons of Pharmaceutical Careers
When considering how many jobs are available in major pharmaceuticals, you must also consider the pros and cons of the industry.
Opportunities For Professional Growth
Major pharmaceutical companies offer opportunities for career advancement.
Talented people identified as having promotion potential can progress swiftly, especially if they can relocate, first to the corporate headquarters and subsequently to an area with a demand.
Those who work in the pharmaceutical industry have fantastic growth potential.
The National Association of Manufacturers notes that just 5% of the approximately 7,000 uncommon diseases have therapies. Pharmaceutical companies will therefore continue to be required to research and create medications to cure these and many more ailments.
People working in the pharmaceutical business frequently have the opportunity to earn extremely coveted and financially lucrative salaries, along with perks like stock options and bonuses.
Employees in the pharmaceutical industry can also take satisfaction in the knowledge that their work benefits others because they know that the prescription medications they assist prescribe and bring to market can enhance and lengthen lives.
Low Entry Barrier
Some positions in the pharmaceutical industry do not require a Ph.D., and some may let you start working right away – especially if you desire to specialize in pharmaceutical manufacturing.
Nearly 47% of pharmaceutical and medicine manufacturing occupations reportedly only need a high school diploma or GED, while just over 4% call for no formal education.
A pharmaceutical career may be riskier than in other industries because the sector can be unpredictable and characterized by abrupt layoffs. For instance, the world’s largest pharmaceutical company, Novartis, fired 8,000 employees in 2022 to save $1 billion in expenses.
Due to the industry’s strict regulations, employees may face more obstacles than those in other fields. Manufacturing pharmaceuticals and medicines are one of the most regulated sectors in the United States.
High Educational Standards
Although many professions in the pharmaceutical sector don’t require a graduate degree, the highest-paying ones frequently do.
Because the major pharmaceutical industry is knowledge-driven and demands a highly competent staff, higher-level positions may call for an undergrad course, with some demanding an advanced degree.
Rise Of AI
Some professions in the pharmaceutical manufacturing sector may become obsolete due to the growing usage of technology like artificial intelligence (AI), machine learning, and robotics, either immediately or in the future.
Fortunately, even though some of the lower-level jobs in pharmaceutical manufacturing may soon be replaced by robots, the demand for IT and AI professionals in the industry is rising.
Wrapping Up: How Many Jobs Are Available In Major Pharmaceuticals?
We hope this article on how many jobs are available in major pharmaceuticals helps you find your calling.
In conclusion, prominent pharmaceutical companies offer high-ranking positions. However, you must possess the necessary skills and abilities for it. This includes the number of open positions, the educational prerequisites, the pay, and the application process.