Health care & Life Sciences

Health Care and Life Sciences industry

Healthcare/ Life Sciences is one of the fastest developing domains with an explosion in knowledge and breakthrough discoveries. Hence, it has become a major thrust area for the global giants in the information industry and also for corporates involved in research and development of new products.
Medicine, pharmaceuticals and biotechnology constitute the key components of this domain. Since these domains cater to the lives and survival of humans, they are subject to stringent regulatory mechanisms requiring specialized skills in knowledge processing, with superior quality and adherence to global standards.
Life Sciences Solutions and Services help Pharmaceutical, Biotech, Medical Devices and Diagnostics companies to accelerate drug discovery, advance clinical trial efficiencies, accentuate manufacturing productivity and amplify sales and marketing effectiveness.

TRENDS

Growing population, increasing affordability, comparative cheaper treatment costs as opposed to the west and medical tourism thereof, increased health insurance penetration, increased patient awareness, out-of-the-box unconventional thinking by the healthcare players for better operations, government opening up its arms to PPP and even providing tax holidays will be the key factors to look out for which would drive the future of healthcare in India. Life science companies will continue to find new avenues for decreasing costs, streamlining operations and improving shareholder value. Companies will maintain focus on therapies, technologies and investments that capitalize on their core business strengths, whether through partnerships or by divesting underperforming units. Commercialization and regulatory hurdles will remain a primary concern, particularly as generic & biologic drugs further penetrate world markets and governments and payers push for lower prices. A top priority for many life science companies is how to mitigate these challenges while also proving the value of their therapies to payers and patients.

 

CAREER OPPURTUNITIES

There are several fields of study within life science such as ecology, botany, medicine and environmental science. Life science careers include research, teaching or medicine. They may require a bachelor's, masters or doctoral degree.
Studying science opens up many job opportunities. Depending on the education level, students can enter the field of research, teaching or medicine. Life sciences offer several career options and numerous programs are available to study and apply
The fast-expanding domestic healthcare industry is the third largest employer, but is severely short of manpower, according to him. As per ministry of health, there is a shortage of approximately half a million doctors, a million nurses and the deficit needs to be filled in the next five years. Such shortage will lead to exponential salary hike demands, and further lead to high patient care costs.
With organized sector being the preferred choice now, there will be a huge demand even for the skilled and quailed health administrators to run the show. Considering one skilled and quailed administrator is required for every 50 employees, there would be a requirement of almost 50000 such healthcare professionals in the near future.
Highly regulated environment and unrealistic stringent norms and restriction of entry to the private entities in the field of medical education has led to further deficiencies in terms of number of skilled professionals being released for intake by various hospitals.

NCS APPROACH

Nikhil is a leading global consulting firm focused on health care and life sciences.  We are passionate about supporting our clients as they create ground-breaking treatments and improve health all over the world. We believe that our depth of experience and breadth of knowledge in the commercial healthcare sector allows us to create services and synthesize insights that other management consulting firms cannot deliver. Scope leverages its extensive academia & industry network to access the best talent pool in the country. The selection process includes a healthy intake from a wide variety of sources like campuses, walk-ins, hiring engines and consultants. Written tests and Interviews are conducted to identify & assess critical parameters like domain knowledge, positive attitude and soft skills. Based on your educational background and your aspirations, a career at NCS will offer you the real experience of delivering high-end knowledge solutions to global clients across a variety of industries and domains, thereby ensuring a highly rewarding and fulfilling career for you.

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