Job Opportunities Abound in Medical Alley
The health technology industry in Minnesota’s Medical Alley is a significant contributor to its workforce and economy. In fact, in 2015 a total of 931 firms in the medical device, biopharmaceuticals, diagnostics, and digital health sectors represented an economic impact of $14.2 billion to the state. With over 48,000 people employed, this decidedly attractive industry boasts high average compensation ($122k) and a concentration and depth of talent unparalleled anywhere in the world.
The good news is that many of these firms are growing and hiring today. In 2015 Medical Alley companies increased job postings by 33% from 2013. Growth is primarily being driven by increased postings from small (129%) and midsized (193%) companies such as Zipnosis, Medpace, Lake Region Medical (Greatbatch), Intertek and Entegris.
Digital Health, the second largest health technology subsector with 105 companies and 6478 employed, also saw substantial growth (97%) in job postings. This correlates with increases in companies and dollars being invested in the digital health sector (2015 Investment Report). Anchor organizations, Optum, Spok, and Wolters Kluwer, coupled with emerging players including Redbrick Health, Zipnosis and Novu are creating a dynamic environment with high demand for IT talent.
Perhaps the most interesting and telling trends can be found in the list of top skills in demand. For a highly regulated industry, it is no surprise that quality systems tops the list. Further underscoring the rise of digital health and its convergence with medical device is the concentration of technical skills like “systems development life cycle management” and “structured query language” in the most high paying postings ($80k and up). These skills were found in positions like computer systems analysts and software developers.
Anyone looking for opportunities where he/she can apply skills and experience to improving health and quality of life, Minnesota's Medical Alley is the place for you.
View the 2015 Annual Workforce Report