In an ever-evolving landscape, the pharmaceutical sales industry stands at the forefront of change, with a growing demand for skilled professionals who can navigate the complexities of the healthcare market. The pharma industry is one of the most profitable industries in the United States, and across the globe, with the top two companies (Pfizer and Johnson & Johnson) combining for nearly $200 billion in revenue just by themselves. As businesses in the pharmaceutical sales and medical industry strive to stay ahead, understanding the current state of pharmaceutical sales and the key skills required by sales reps in the field that are in high demand is paramount.
In this blog, we'll take a look at the outlook of pharmaceutical sales, what the role is of a sales rep in the pharma industry, how they directly impact the medical industry, the highest in-demand skills that companies are looking for in their candidates, and why utilizing pharmaceutical recruiting companies can save your organization valuable resources like time and money when it comes to hiring your medical sales representatives.
Pharmaceutical Sales Job Outlook
The pharmaceutical sales job outlook is expected to experience significant growth due to advancements in medical research and technology. According to the Bureau of Labor Statistics, the industry is projected to see a 9.1% increase in pharmaceutical sales jobs over the next decade. This highlights the important role these professionals play within the healthcare ecosystem. The positive trajectory reflects the ongoing development of innovative medications and therapies, highlighting the need for a skilled and adaptable sales force.
What does a Pharmaceutical Sales Rep do?
A pharmaceutical sales representative acts as a liaison between pharmaceutical companies and healthcare professionals. Their main duties include promoting and educating healthcare practitioners on new pharmaceutical products. They also build and maintain relationships, conduct market research, and navigate regulatory compliance. Sales reps provide product samples, support, and address inquiries while meeting sales goals. Continuous learning is important for reps to stay credible sources of information and improve their sales skills. Ultimately, pharmaceutical sales reps contribute to advancing patient care by exchanging crucial information between companies and healthcare practitioners.
How Pharmaceutical Sales Reps Impact the Medical Industry
Pharmaceutical sales reps are essential in connecting pharmaceutical companies and healthcare providers. They play a pivotal role in sharing information about new products and getting them to the patients who truly benefit. By building relationships with medical professionals and health care providers in these sales opportunities, these reps contribute to improving patient care and healthcare outcomes. This mutually beneficial relationship highlights the importance of skilled professionals thriving in this exciting industry.
High Demand Skills for Pharmaceutical Sales Reps
Effective Communication
Proficient verbal and written communication skills are essential for sales representatives to effectively convey complex medical information to diverse audiences through public speaking, including healthcare professionals and stakeholders. Possessing these soft skills goes deeper than just basic training and educational requirements. These skills are what set apart successful medical sales reps and those who are only looking to sell their drugs in sales meetings.
Interpersonal Skills
Building and maintaining long-term relationships with potential customers and doctors is an important aspect of achieving success. Strong interpersonal skills enable sales representatives to connect with healthcare professionals, comprehend their requirements, and establish trust, ultimately cultivating long-lasting partnerships.
Medical Knowledge
One of the most in-demand skills that pharma companies are looking for in their sales reps today are those who have a science background or a four-year bachelor's degree in a medical field or life sciences. A deeper understanding of medical terminology, pharmacology, and the technical knowledge of the healthcare landscape is necessary to be a successful sales rep. Sales representatives should be capable of having informed conversations with healthcare professionals and addressing their concerns about scientific products while also possessing the business acumen and passion to lead successful sales meetings.
Adaptability
Due to the constantly changing nature of the pharmaceutical industry and the swiftness in which a pharma sales force can be eliminated, it is important for sales representatives to be adaptable and navigate through various changes in regulations, market dynamics, and product portfolios while maintaining a consistent level of performance.
Analytical Thinking
The ability to analyze market trends, competitor activities, and data is important for workers in the Pharma industry. Analytical thinking helps sales representatives develop strategic plans and customize their approaches to meet the specific needs of healthcare providers.
Resilience
Rejections and challenges are a natural part of the sales process. Resilience is key for pharmaceutical sales representatives to overcome setbacks, gain knowledge from their experiences, and continue to persevere through difficult situations while looking for more business opportunities.
Continuous Learning
Remaining updated on healthcare and pharmaceutical advancements is crucial for sales representatives. Continuous learning enables them to stay current with industry developments, enhancing their credibility and effectiveness. Some companies can offer additional training programs, but doing your additional training and learning independently can be the best way to increase your overall value to your company and individual success.
Benefits of Utilizing a Pharmaceutical Recruiting Company
Businesses in the pharmaceutical and medical industries are using specialized recruitment firms like Scion Medical to simplify their recruiting and hiring processes. These firms are skilled at finding and attracting top-tier talent, ensuring that companies have access to professionals with the necessary skills and qualities. They employ experts who understand pharmaceutical sales and can efficiently match candidates with organizations. By using a pharmaceutical recruiting company, businesses can focus on their core operations while entrusting their recruitment to professionals who specialize in the pharmaceutical and medical sectors.
Scion Medical is You Partner in Pharmaceutical Recruiting!
Scion Medical is a leading national provider of pharmaceutical recruiting and staffing services for the medical industry. We specialize in pharmaceutical recruiting and medical staffing for a variety of roles in healthcare and have the in-depth knowledge of the pharmaceutical industry and the needs of organizations within the medical sector. Scion Medical is well known for excellence in medical recruiting and has become a trusted partner for companies in need of skilled professionals in pharmaceutical sales and other healthcare fields in an extremely competitive field. Our team of recruiters are reliable, knowledgeable, and connect businesses with the talent they need to succeed in the changing world of pharmaceutical sales. Contact us today to find the talent you need for your open roles!
About the Author
Patrick Chiotti (he/him) is an accomplished SEO writer and is currently the Marketing and Communications Specialist at Scion Staffing, bringing years of experience in SEO knowledge and a passion for writing to the Scion team. With additional experience in customer service roles, retail, and accounting, Patrick brings a unique set of knowledge and skills to his role while sharing the passion to continue learning about a wide range of topics so he can share his voice to a larger audience. Outside of Scion, Patrick spends his time as a football coach at the high school level and is passionate about teaching the game, while remaining a student to it. He is also a husband and father, and enjoys fitness, as well as a passion for cooking amazing food.