TMO · 10-Q · 2026Q3 · Full report

End-Market Demand Trends

THERMO FISHER SCIENTIFIC INC. · 2026-10-30 · Importance 26 · Surprise 24

In the third quarter of 2026, pharma and biotech demand was very strong as underlying market conditions continued to strengthen, while academic and government revenues were flat. Industrial and applied revenue was very strong, driven by demand for innovative high-end instruments; diagnostics and healthcare revenue grew slightly. For the first nine months, pharma and biotech demand was strong, academic and government revenues were flat, industrial and applied revenues were strong, and diagnostics and healthcare revenues grew slightly.

Key facts

• In the first nine months of 2026, revenue growth in Thermo Fisher Scientific Inc.’s pharma and biotech market was strong, driven by strengthening underlying market conditions. source
• In the third quarter of 2026, revenue growth was very strong in Thermo Fisher Scientific Inc.’s pharma and biotech market as underlying market conditions continued to strengthen. source
• In the third quarter of 2026, Thermo Fisher Scientific Inc.’s revenue in the academic and government market was flat. source
• In the first nine months of 2026, Thermo Fisher Scientific Inc.’s revenues in the academic and government market were flat. source
• In the third quarter of 2026, customer activity remained strong across Thermo Fisher Scientific Inc.’s end markets. source