Abstract:
When thinking about biotechnology, the first image that comes to people’s minds are scientists in a lab coat researching cancer or inventing a life-saving drug, for example covid vaccines. This may be the most typical stereotype in the industry. In reality, biotech paves multiple paths, more than the stereotypical science one. Although the biotechnology industry is relatively new, it has already become a major economic driver, generating over 140 billion dollars in revenue, and employing 1.66 million people. The market itself statistically shows enormous growth potential as it is projected to grow over 4.3% in the next year (by 2023). This ever-growing market has limitless potential and calls for skilled professionals. There are endless different careers in biotech, however, all jobs are related to the core three: science, research, and business.
Definition: Biotechnology + types of biotech:
But the question remains: what is biotech? At its simplest, biotech is based on biology - biotech studies and researches living organisms to produce healthcare relating products. The application of biotech is in some of the most lucrative markets such as medical, business, and more. It’s helped reduce rates of diseases, save millions of people’s lives, and combat illnesses all around the world. The main four types of biotechnology uses are medical (red), industrial (white), environmental (green), and marine (blue). Inside these “colors” of biotechnology, the core three adds another shade of career opportunities. They apply to all these sectors and create the specification of each individual career in biotech. Biotech is a rising industry with much market potential, being a part of this “weapon” is highly beneficial for future generations.
Science:
Science creates a broad range of careers in all of biotech’s sectors; it is the backbone of every sub-market. Biomedical engineers, biochemists, and microbiologists are amongst some of the most common careers to pursue. Biomedical engineers combine engineering and biology to improve medicine, whereas biochemists study the chemical properties of living things such as cell development. Microbiologists specialize in the study of microorganisms such as bacteria, fungi, and viruses. According to the University of Wisconsin Applied Biotechnology, they accordingly pay at an average of 91,410, 91,190, 75,650 a year. They may perform lab experiments, conduct research, or manage daily lab activities. Science in the biotech industry can open boundless career paths. For example, other scientific-related jobs include medical scientists, clinical technicians, process development scientists, and more.
Research:
Besides science, research is important because it ensures that they develop technologies that will be successful and operational when commercialized. Research scientists typically conduct experiments and are an important component of the development of scientific thinking.
According to different sectors, research scientists may research different topics. For example,
healthcare research scientists research biological methods for treating disease. Their salary
ranges from about 53,500-107,500 a year, according to ZipRecruiter. Another common
research-related job is being a clinical or lab technician. Their primary job is to assist other
scientists and experiments, for example, checking and recording test results. Clinical/lab
technicians’ salaries can range anywhere from 32,934 (25th percentile) to 89,954 (75th
percentile) (ZipRecruiter).
Business:
Similar to other industries, biotechnology employs trained professionals who provide market
analysis, development, and execution of commercial strategies and oversee manufacturing
operations. In business, there are multiple careers opportunities, but the most heard of one is managers. There are marketing/business development managers, research development
managers, quality assurance managers, and more. Business development managers devise
strategic plans to bring biotech products into the market, thus, increasing revenue. According to Northeastern University of Graduate Programs, their median salary is 113,769 a year. Other types of managers such as research development managers explore and develop ideas and products and pay around 141,472 a year. (University of Wisconsin Applied Biotechnology). Quality assurance managers ensure that products are of quality standards when presented to the public, and their salary is about 105,482 a year. (University of Wisconsin Applied Biotechnology)
Conclusion:
Biotechnology is a vastly expanding market and opens thousands of job opportunities; many
people can choose a dual career path as all sectors are linked. The market itself is based on the science of researching organisms to help cure sickness and diseases. However, there are different sectors of biotech, and all careers path relate to the main three which is science, research, and business. These different careers pay differently as well as presents a distinct environment. There are never-ending career opportunities surrounding this booming business, biotechnology, and all these benefits should urge people to consider pursuing this industry.
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