Healthcare Tools

Thermo Fisher $44.56 billion and Danaher $24.57 billion are the platforms. IQVIA $16.31 billion is the CRO and commercial-data name. Agilent $6.95 billion is FY2025 ended October 31, 2025. Mettler-Toledo $4.03 billion, Charles River $4.02 billion, and Waters $3.17 billion are calendar 2025 specialists.

2025 segment revenues before eliminations: Lab Products and Biopharma Services $23.98 billion, Life Sciences Solutions $10.37 billion, Analytical Instruments $7.55 billion, Specialty Diagnostics $4.68 billion. Consolidated $44.56 billion after eliminations.

2025: Diagnostics $9.94 billion, Life Sciences $7.33 billion, Biotechnology $7.29 billion. Life Sciences core sales declined 1.5 percent. Biotechnology core sales grew 6.5 percent.

2025 as reported: Research and Development Solutions $8.90 billion, Technology and Analytics Solutions $6.63 billion, Contract Sales and Medical Solutions $788 million. IQVIA recasts those segments in 2026. This chart is the 2025 basis.

FY2025 ended October 31, 2025: CrossLab $2.91 billion, Life Sciences and Diagnostics Markets $2.73 billion, Applied Markets $1.31 billion. Group $6.95 billion, up 6.7 percent reported and 4.9 percent core. Not a calendar-2025 print.

FY2025 ship-to: rest of world $3.38 billion, United States $2.34 billion, China including Hong Kong $1.22 billion. Those three lines are the $6.95 billion.

2025: Laboratory $2.24 billion, Industrial $1.58 billion, Retail $206 million. Group $4.03 billion, up 4 percent reported. Laboratory was about 56 percent of sales.

2025: instruments $1.35 billion, service $1.19 billion, chemistry consumables $631 million. Service plus chemistry is the recurring pile. Group $3.17 billion, up 7 percent as reported and in constant currency.

2025: Discovery and Safety Assessment $2.40 billion, Research Models and Services $846 million, Manufacturing Solutions $766 million. Group $4.02 billion, down 0.9 percent reported and 1.6 percent organic.