The COVID-19 pandemic shined a spotlight on the life sciences industry. Heroic efforts across the board produced vaccines faster than ever thought possible. While development and trials on many other projects were inevitably delayed, the mission-critical shift in focus shows how remarkably resilient the industry proved to be during the biggest U.S. health crisis in a hundred years.
While many industries paused or shrank, the life sciences industry saw growth. In fact, the industry managed to grow it’s employer base by 1.4 percent (in comparison to a 5.1 percent decline overall in the private sector.) According to a CSBI study, 4 out of 5 life sciences companies reported no or minimal impact on hiring, continued hiring at a slower pace, or even hiring at a faster pace.
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