The lifesciences industry sees a sharp downturn in Q3, with medical device sector hiring down nearly 20% quarter-over-quarter based on trends from the industry’s top dogs.
MASSDEVICE ON CALL — Medical device industry hiring hit a serious slump in the 3rd quarter, with sector growth at the lowest rates its ever been in the history of the ZRG Parters’ Global Life Sciences Hiring Index.
Medtech hiring trends in Q3 sank 19% quarter-over-quarter, with ZRG analysts attributing much of that to sluggishness in job growth at Siemens (NYSE:SI) and Philips (NYSE:PHG).
Trends weren’t much better among other lifesciences industries, with major drops in hiring for R&D, manufacturing, sales & marketing and Asia Pacific, according to the report. The entire sector posted a 5.1% decline for the quarter, with hiring in outsourcing and services the lone bright spot, with a 20% boost quarter-over-quarter.
Although the trends look bleak compared with earlier in the year, hiring is still on an uptrend from 2012, ZRG analysts noted.
The ZRG Index is a superficial look at the industry based on trends among top organizations. Bellwether companies for the medical device industry are:
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