To me, it seems that the bigger problem is lack of good jobs for trained scientists, rather than any inefficiencies of matching them to each other. Academia, on the one hand, is replete with positions like postdocs and adjunct professorships that are low-paying career dead ends. And on the other, many industry jobs listing Ph.D. as a requirement don't utilize research skills, so someone with a Masters or an undergraduate degree can do them just as good. Such people are usually hired ahead of scientists.
I don't know about biomedicine in particular though. Maybe, something is different there.