Skip to main content
SEARCH
businessman hand holding virtual medical health

The difference between pharma sales jobs and medical device careers

As a candidate in the healthcare sector, you may be considering various career options that align with your skills and interests. Two prominent paths in the industry are pharmaceutical sales rep jobs and medical device careers. Both roles offer unique opportunities to contribute to the healthcare ecosystem and make a significant impact.

Reports reveal mergers and acquisitions in the pharmaceutical industry are expected to closely resemble years prior to COVID-19, with a total deal value in the $225 billion to $275 billion range expected in 2023.

Whilst the global medical devices market is projected to grow to $718.92 billion by 2029 at a CAGR of 5.5%. These figures convey a promising outlook for both paths, but what is the difference between pharma sales jobs and medical device careers?



Here's what you should know about these dynamic fields:

Day-to-day knowledge and skills

If you thrive in a structured environment and have strong organizational skills, you may enjoy working in pharmaceutical sales. Prior selling experience in outside business-to-business sales (B2B) is highly preferred as a strong foundation to entry-level pharmaceutical sales. Your day will revolve around planning, organizing your day, week while promoting and selling prescription medications and healthcare products to healthcare professionals, such as physicians, pharmacists, and hospitals. A total office call is when you speak to every staff member who may be recommending your product to patients.

If you want to lead the way as a pharma sales rep, you need to possess strong sales and negotiation when communicating with healthcare professionals, and stay up-to-date on new medications, clinical data, and treatment options. You may also need to organize educational events and conferences to promote product awareness and foster relationships.

If you like variety and feed off high-energy environments and interactions, medtech sales or device sales might be the perfect fit for you. You may be on-call with more travel opportunities than in pharma sales, and collaborate with multidisciplinary teams, including surgeons and clinical specialists to support the successful adoption and utilization of medical devices.

Medical device sales professionals require strong product knowledge, technical expertise, and clinical knowledge. You may sell a wide range of medical equipment, devices, implants, and diagnostic tools, and may need specialised education such as a degree in life sciences. To break into medical device sales, you usually start in an Associate role. This is a training opportunity and a sales support role. Oftentimes, you support a Sales Consultant. This “on the job” training develops the skill set and knowledge to begin assisting Surgeons in the OR setting. Individuals with drive, determination, hard work ethic thrive in this very fast paced environment.

Compensation

Pharmaceutical sales reps typically earn a higher base salary and may receive a bonus incentive on a quarterly basis. Your bonus may be capped due to the perks of having a standardised workday structure. With innovations such as cutting-edge digital platforms, big data analytics, and cloud computing, helping the pharmaceutical sector grow, it’s expected to reach USD 1.5 trillion in 2023. This makes for a profitable career path.

On the other hand, a medical sales rep's salary may have a lower base salary than in pharmaceutical sales. Usually, the upside is that your commission is higher and more likely to be uncapped. Innovations shaking up the US medical device market industry are supporting the strong upward growth trend, making it a lucrative market.

People you might work with

Pharmaceutical sales representatives can often be found patiently waiting in doctor's offices, suited and booted in professional attire, anticipating an opportunity to engage with healthcare professionals. The art of perseverance, patience, and understanding is paramount in this profession. Regardless of whether you secure a conversation or are turned away due to a busy schedule, pharmaceutical sales reps must maintain a composed, professional, and amiable demeanor towards all staff members.

Unlike their counterparts in pharmaceutical sales, medical device sales representatives can be found in various settings, ranging from doctors' waiting rooms to wearing scrubs and applying their problem-solving skills directly in the operating room. The expansive range of products within the medical device field empowers professionals to choose their desired level of technical involvement and where they prefer to allocate their time.

Those in medical device sales representatives jobs engage with a series of healthcare professionals, including surgeons, clinicians, and technicians, as well as hospital administrators and purchasing departments. Building relationships, providing technical expertise, and offering customized solutions are vital for success in this field.

Regulatory environment

The pharmaceutical industry is subject to stringent regulations to ensure ethical marketing practices, patient safety, and compliance. Pharma sales professionals must stay up-to-date with industry regulations and pharmaceutical industry guidelines , and adhere to the highest standards of professionalism.

The medical device industry operates within a regulatory framework that ensures safety, efficacy, and quality. Professionals in this field must possess a thorough understanding of regulatory requirements and comply with standards, such as those set by the FDA (U.S. Food and Drug Administration).

Ready to start a rewarding journey in healthcare?

Remember, regardless of the path you choose, continuous learning, adaptability and a genuine passion for improving patient outcomes will set you on a rewarding and fulfilling journey in healthcare.

If like us you value innovation, collaboration, and the pursuit of excellence in advancing healthcare worldwide, then start exploring pharma sales jobs or medical device sales representative jobs at IQVIA today.

List #1

Related jobs

National Traveling Immunology Sales Specialist - West

Salary:

Location:

Chicago

Job Type

Regular

Employment status

Full Time

Job Category

Medical Sales

Location

Chicago

Description

**This is a pipeline job posting to gather resumes for future roles**Join the IQVIA team, where diversity and inclusion thrive in a workplace committed to improving patients' lives. We recognize that

Reference

R1443097

Expiry Date

01/01/0001

Larry Shoup

Author

Larry Shoup
Larry Shoup

Author

Larry Shoup
Apply
District Manager - North East

Salary:

Location:

Albany, Hartford, White Plains, New Haven

Job Type

Regular

Employment status

Full Time

Job Category

Medical Sales

Location

Hartford

Albany

White Plains

New Haven

Description

As the only global provider of commercial solutions, IQVIA understands what it takes to deliver nationally and internationally.  Our teams help biopharma, medical device and diagnostic companies get t

Reference

R1449326

Expiry Date

01/01/0001

Lesley Fries

Author

Lesley Fries
Apply
Training Manager - National

Salary:

Location:

Chicago

Job Type

Regular

Employment status

Full Time

Job Category

Medical Sales Training

Location

Chicago

Description

Training Manager The Training Manager is responsible for developing Sales Professionals learning and coaching activities that result in increased performance and business results across the nation. Th

Reference

R1450246

Expiry Date

01/01/0001

Lesley Fries

Author

Lesley Fries
Apply
List #1

Related posts

man in suit and glasses holding a tablet up to a man wearing a lab coat
How To Become a Pharmaceutical Sales Representative

Teaser

Medical Sales & Services

Content Type

Article

Published

10/09/2024

Summary

The pharmaceutical sales industry is highly competitive yet rewarding.  It’s a career that offers professionals the chance to develop interpersonally and gain a stronger understanding of medicine, as

Teaser

We discuss the best ways to secure pharmaceutical sales jobs.

Read more
man drawing an upwards tick over a bar graph
How to get your pharmaceutical sales career off the ground

Teaser

Medical Sales & Services

Content Type

Article

Published

10/03/2024

Summary

So you're looking to progress your pharmaceutical sales career? Professionals in pharmaceutical sales jobs know the gravity of their contribution to the healthcare industry. Without their commitment

Teaser

From establishing your personal brand to networking, there are many ways to excel in pharma sales jobs.

Read more
sales representative talking with female doctor in medical building.
What does a Dermatology Sales Rep do?

Teaser

Sales

Content Type

Article

Published

09/25/2024

Summary

The role of a Dermatology Sales Rep is to promote and sell dermatology treatments and products.  Dermatology Sales Reps serve as a connection between the dermatology companies producing treatments an

Teaser

Dermatology Sales Reps are an integral cog in the machine of dermatology services provisions.

Read more
Lesley Fries

by

Lesley Fries

Lesley Fries

by

Lesley Fries

List #1

Recently Viewed jobs