Are too many people going into biomedical research or too few? As we explore in our new review of the career there are probably too many people entering the field. Biomedical research is a very promising way to make the world a better place if you have a high chance of being a top researcher, but for most people it’s a very tough road and entering could be a costly mistake. In the rest of the post, we’ll explain why and help you figure out whether it might be for you.
Biomedical research is a good path—if you’re a good fit.
We sometimes encounter people who might be a good fit for biomedical research, but who are skeptical about its potential impact. We think this might be misguided because:
- There are exciting areas of research that could offer enormous upside, such as anti-aging research, neural implants, gene therapy and synthetic biology.
Potentially very high returns to research with comparatively low costs. According to one estimate, the prevention and treatment of cardiovascular disease in the US in the 1970’s and 1980’s alone had $31 trillion of associated gains. This is on the order of 60 times as large as all spending on medical research over the period. Another analysis estimates that a 1% reduction in cancer mortality in the US would be worth $500 billion (in comparison,