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Healthcare: Pharmaceuticals, Biotech and Medical Devices Industries

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Glossary

What if you could go to work each morning knowing that your efforts would help people lead healthier and longer lives? That is the feeling that the individuals working in the healthcare industry experience every day. Innovative medical devices, and more efficient and effective drugs and drug delivery systems translate directly into faster recoveries, less pain, and greater freedom for patients. Additionally, innovations in medical equipment and drug development technologies provide physicians and other healthcare providers with the tools and treatment options that allow them to better care for their patients. The importance of engineering and the key role of engineers in bringing those improvements and innovations to the people who need them can hardly be overstated.

The healthcare industry is a large, global, and incredibly competitive arena. In truth, it's really three industries in one. First, there is the pharmaceutical industry, which both competes with and is in partnership with the younger but equally innovative biotechnology industry. Biotechnology - commonly called biotech - is where technology and biology intersect to utilize biological systems to create or improve products. As an industry, it came of age relatively recently, with breakthroughs such as the engineering of recombinant DNA in 1973 and the introduction of the industry's first fully achieved product - human insulin - in 1983. In the years following and right up until today, biotech has changed the face of healthcare (and, indeed, the world) time and time again with innovations in forensics, genetic testing, and cloning.

The third industry, and in many ways the center of engineering in the healthcare industry, is the medical device industry. This industry has improved diagnostics and patient care with products like MRI machines, artificial joints, and stents, and has also made many breakthroughs with combination pharmaceutical and device products.

The healthcare industry is constantly pushing the scientific envelope and expanding the scope of the world's medical knowledge and abilities. We can only try to imagine what dramatic changes will result from the research and development being done right now, but we do know that engineers will find a vibrant and exciting future throughout the healthcare industry in areas such as R&D, product and facility design, manufacturing, quality assurance, and much more. The development of an idea into a viable, reliable, and accessible product can be a complex process - but to see a new idea or product become a reality and know that it will change countless lives for the better is incredibly satisfying.

This module should give you an idea of trends in the industry, who the key players are, and how you can get started on a path to a promising and fulfilling career.

Educational Goals:

After completion of this module, you should:

• Be familiar with the healthcare industry and the opportunities it offers

• Be prepared to start a productive and focused job search in the healthcare industry

• Have a greater understanding of the operations and standards that are used in the industry

 
  Industry Scope