With an aging population that is living longer, orthopedics is one of the fastest growing medtech sectors. With millions of active seniors jogging, biking, and playing tennis, hips, knees and spines are wearing out. Companies that make orthopedic implants, surgical robots, artificial limbs, and other devices will experience the fastest growth. Cardiovascular disease is also on the increase, along with cancer, and both are expected to generate employment in the medical technology sector.
As might be expected, engineers are in demand in the highly technical medtech industry, especially reliability engineers and manufacturing engineers. There is also a demand for R&D engineers. These professionals define user needs, convert them to relevant requirements for product design, and consult with end users through human-factor studies.
Medtech recruiters are finding some of the hardest positions to fill are in the regulatory side of the business. Regulatory affairs workers are well versed in government regulations, especially those enforced by the Food and Drug Administration. Professionals interact with regulatory agencies and develop strategies to get medtech products approved in various markets.
Although it is often an overlooked field, regulatory professionals are among the highest paid in the medtech industry and they are in demand in the United States, Europe and elsewhere. In June 2014, Colin Dittus, of executive search firm Klein Hersh International, stated: “right now, for every 10 openings in the regulatory affairs space, there are only two active candidates. While a junior, inexperienced person can start off with an annual salary of around $50,000, a Vice President of regulatory affairs can earn upwards of $350,000 a year, depending on size of the company.”
