The Canadian pharmaceutical market comprises about 2.1% of the global market share, ranking 9th in the world in 2020 (IQVIA). In 2022, only 1 Canadian company ranked 33rd out of the 50 largest pharma companies in the world. Even so, the country has a vibrant biotech and life sciences research sector fueled by renowned universities, several thousand startups, and a history of scientific breakthroughs. Canada’s capabilities include:

• 16 health and life sciences networks, including 100+ teaching hospitals and research institutes
• Over 12,000 bio-economy organizations in 2019, including 600 innovative biotechnology companies
• 686 pharmaceutical and medicine manufacturing establishments, 81.3% of them with 0-99 employees 
• 206,082  STEM and health care graduates in 2019, representing a 15% increase from 2015
• Clinical trials conducted by the world’s top ten pharmaceutical companies, with over 3,500 taking place at any given moment
• $1 billion (of the $2.2 billion) invested in the ‘Strategic Innovation Fund’
• More than a dozen available research partnership programs and grants, including the National Research Council of Canada’s Industrial Research Assistance Program (NRC-IRAP) and Ontario Centre of Innovation (OCI).

The bio-health subsector of the Canadian bioeconomy is expected to require more than 36,000 workers by 2029, not accounting for the expansion growth as a result of Strategy investments. Already some employers are finding it challenging to recruit and retain skilled talent. Forecasts suggest that employers will only be able to fill about 25% of the biomanufacturing and processing job openings between now and 2029. To keep up, Canada will need to strategically recruit more internationally educated professionals and students along with under-represented groups. Raising awareness and inspiring pursuit of bio-economy careers earlier on in a student’s education may also help.

Reskilling, training and entry-level certification programs will play a large role in increasing the labour pool. Personnel will require Good Manufacturing Practice (GMP), Good Laboratory Practice (GLP), and soft skills such as problem-solving, collaboration and business skills to support commercialization. This is where PSG is perfectly poised to leverage the evolving sector with industry-led quality training courses in QA, QC, regulatory affairs, manufacturing, and management along with other events that support professional development. Supported by the Government, eligible companies can receive up to $10,000 per employee for training through the PSG through the Canada-Ontario Job Grant.

Students are vital in growing the Canadian bioeconomy. To help bridge the gap between education and industry and ensure students are prepared to thrive once they enter the industry, PSG offers free student memberships as well as discounted student tickets for many courses. A $1000 scholarship is also awarded to a student in their final year of an undergraduate or graduate program related to the bio-pharmaceutical industry, to be announced at the Inaugural Gala in February 2025.

As we continue to build up and invest in our talent pool, we believe that the Canadian bioeconomy will thrive. Find out how the PSG can help you flourish in the industry by exploring our website or emailing us at info@psg.ca.