The world as we know it changed forever in 2020. Countries around the world struggled to cope with the COVID-19 pandemic and everybody found they were taking drastic measures to deal with the threat. It’s no wonder that we all began to reimagine the ways in which society operates.
Now that we’re well into the “new normal,” our world still seems quite uncertain, and recovery isn’t yet secure. In these fragile times and today’s changing world, can the life sciences sector really flourish?
Companies within the life science sector work on the frontlines of innovation to improve the well-being and health of people all over the world. Demand is increasing for new medicines, while populations are rapidly aging, driving more growth across the board.
The record number of Biotech companies that have gone public in recent times is not only impressive in terms of the amount of money these companies have made but also the vast number of firms that have managed to achieve public status. However, while getting public status is a hard road to navigate, staying public can be an even bigger challenge!
Teamwork is undeniably important when it comes to being successful in the life sciences sector. Prior to the COVID-19 pandemic, organizations were moving towards a more agile way of working. Technology was starting to be used to connect people around the world so that talented life science professionals could collaborate. This was still in its infancy for most areas before the pandemic, with the changing world forcing organizations to become more agile and allow for remote working almost overnight.
Prior to the pandemic, very few people would have been able to predict how the world would change. The life sciences sector is one that had to adapt quickly to a changing world as research into the COVID-19 virus, treatments, and vaccines were all needed quicker than people were used to working. On top of this need to work at speed to create solutions, several factors made it more difficult. If people had known a pandemic was on the way, they would have done things a bit differently. Here are some examples:
As COVID-19 rages on, most executives are focused on ensuring that the health and safety of each of their employees is the most important aspect of their work. However, there is no denying that Life Science businesses are experiencing ongoing disruptions and are under pressure to support the mission to find new ways to stop the spread. Achieving both of these goals may seem impossible, but many businesses are finding ways to make it work! Take a look at ways to help the Life Science sector continue to function until the pandemic eases.
At the end of 2020, many of us reflected on the huge successes that the Biotech industry had experienced with obtaining IPO funding; we did not expect to see it continue long into 2022. However, it has, and an astonishing number of Biotech firms are enjoying large amounts of funding when they take their company public.
Over the past few years, the world has experienced some devastating blows, from the current pandemic to the loss of people like George Floyd, Ahmaud Arbery, and Daunte Wright. This has left many people keen to address the inequalities people face, moving the country forward into a cohesive and fair place to live. Within the Life Science community, many companies are keen to ensure that their leadership teams and boards are comprised of diverse people, but they struggle to find the right candidates. Find out how a recruitment service like GeneCoda® can help.