Philadelphia, PA- Philadelphia based healthcare search company, Berke Executive Search explored statistic and market trends in biotechnology industry and how the trends will influence decision makers in the field. Market experts reference the introduction of the Affordable Care Act in 2012 as the beginning of notable changes made throughout the healthcare industry that eventually led to the relevance of biotechnology. To better understand the new combination of healthcare and technology, Berke Executive Search analyzes the research done by Battelle, a leading science, and technology development institute, on biotech in terms of the economy, market trends, and how this all effects the healthcare industry.
In terms of the healthcare industry, biotechnology is used in drugs and pharmaceuticals, medical devices and equipment manufacturing, and research in medical laboratories. The use of biotechnology in human health is the largest sector; accounting for 69% of biotechnology products and services. In line with the industries trend toward growth as of 2015, biotech produced 1% of all jobs in the United States and grew the number of jobs added to the economy by 11%.
Among the many focuses of healthcare influenced by biotech, the three largest contributors to jobs are in-vitro diagnostic substance manufacturing, medical laboratories, and testing laboratories. These jobs are typically high paying with an annual average earning of $110,450. Job growth and higher paying jobs in the field are positively i