Medical devices vs pharmaceuticals a brief guide to the differences - Viewpoint - careers advice blog Viewpoint careers advice blog

Medical devices vs pharmaceuticals â€" a brief guide to the differences - Viewpoint - careers advice blog The global medical device market is predicted to reach $440 billion by 2018, growing at a rate of about 4.4 per cent per year. Compare this with the anticipated growth of the prescription drug market â€" an annual rate of 2.5 per cent â€" and you can see why job hunters are increasingly looking to the device makers to realise their career aspirations. So significant is this trend, that it’s worthwhile looking at the differences between the two markets. Candidates considering a move out of pharmaceuticals and into the medical devices industry should be clear on the following distinctions: 1. Medical devices are mechanical, rather than chemical Medical devices are based on biomedical engineering and, as a general rule, either permanently or temporarily replace a body function. At the soft end, they are simple, everyday products like sticking plasters or spectacles; at the sharp end, they might be sophisticated surgical supplies, like cardiac stents or joint prostheses. By contrast, pharmaceuticals are medicines, designed to engage the body’s chemistry. 2. Medical devices have different efficacy dynamics to pharmaceuticals The efficacy of a medicine is simpler to demonstrate than for a medical device, because it is determined by the pharmacodynamics of its active ingredient. The effectiveness of a medical device depends upon many more variables â€" the care setting, individual patient characteristics and the skills and experience of the clinician ‘applying’ the device. 3. Research and development (RD) models are different Most medical devices cannot be evaluated using randomised clinical trials due to ethical and practical issues in the choice of comparator â€" for example, what would be an ethical comparator for a cardiac pacemaker? Medical devices are, nonetheless, evaluated for efficacy and safety, based on data acquired from clinical investigations. 4. Medical devices have regulatory systems based on shorter product life cycles Like pharmaceuticals, the medical device industry has its own regulatory systems. Medical devices have shorter product life cycles, since technical improvements are typically available within two years of a previous iteration, whereas improvements in medicines are more likely to take decades. Trying to apply the same regulations to medical devices as to pharmaceuticals would therefore delay access to vital medical resources and procedures without increasing patient safety. 5. Sales and marketing models differ In pharmaceuticals, the prescribing doctor is the primary target of sales and marketing activities. In medical devices, there are many more stakeholders who can influence the adoption and use of a device, including hospital managers, nurses and case workers. Medical devices therefore have greater emphasis on training, education, service and maintenance, as well as distribution, which greatly impacts their business models. Summing up All of these differences are bound to influence the job descriptions, lifestyle factors and remuneration packages associated with positions at every level of medical device organisations. The differences are especially pronounced at the sales representative level, where the majority of opportunities arise. Medical device recruitment is a specialist area and Hays Consultant, Anna Wysocka, has eight years’ experience specifically in placing candidates within the medical devices industry. Next blog, we share her insights and bring you a checklist of points to consider before attempting to move from pharmaceuticals in this direction. Search and apply for jobs in Medical Devices and Pharmaceuticals  here.  You can also stay up to date with the latest news from across the globe by joining our LinkedIn group,  Life Sciences Industry Insights with Hays  and following us on Twitter  @HaysLifeSciences I hope you have found the above advice useful. Here are some other Life Sciences focused Viewpoint blogs to help you progress your career: 5 ways to build your personal brand in life sciences How to network for success in the life sciences sector How to develop your strategic networking game plan The three types of network you need to succeed How to optimise your LinkedIn profile 5 things life science startups are looking for on your CV Life sciences recruitment: where are we headed?