Few things in the world are more enigmatic than the human body.
Because the body is not like an ordinary machine that man has designed, its mysteries are virtually endless. Companies like Thermo Fisher Scientific work to uncover answers to some of these mysteries through new testing methods and advanced equipment.
It takes an educated mind to analyze and understand the body, and it takes sophisticated equipment to help with the process—that’s where Thermo Fisher Scientific comes in.
Making The Study Possible
Thermo Fisher Scientific can be defined as a biotechnology company; that means that they create solutions for any sort of problem that has to do with the human body. Whether it’s lab equipment, new testing methods, or medication creation, you can bet that Thermo Fisher has a hand in it.
They operate within industries like diagnostics, applied biotech, pharmaceuticals, and academics. With an annual revenue barely shy of $25 million, it’s clear that this company is doing something very right.
Born Out of A Merger
Thermo Fisher itself isn’t an especially historic company—it was just created in 2006 when two other companies (Thermo Electron and Fisher Scientific) decided to join forces. These two predecessors are much older, though; they were created in 1956 and 1902 respectively.
Individually, the two companies had made quite a name for themselves by selling lab and diagnostics equipment, so when they merged, they became nearly unstoppable. In the years directly following the merger, they acquired a number of additional companies.
These acquisitions have planted Thermo Fisher squarely on the forefront of the biotech industry, as they now innovate new technologies as well as manufacturing current ones. With more than 70,000 employees and a number of well known brands within the healthcare sphere, Fisher Scientific is stronger than ever.
Health and Tech Together
The biotech space is unique in that it brings together the industries of technology and healthcare. While Thermo Fisher is incredibly skilled at this synthesis, there are a number of other brands that do it quite well, too.
Danaher Corporation and Agilent Technologies are two of the competitors for whom Thermo Fisher has to look out; though they trail Danaher, they’ve surpassed Agilent.
Clawing Up Market Share
Thermo Fisher Scientific manages to stay visible in a crowded market by employing one important skill: innovation. Because they are continuously coming out with new and impressive technologies, they stay at the top of the industry’s mind.
Of course, not all of their press is positive. For a while, the company was selling genetic sequencers to a repressive area in China that was supposedly using the sequencers for persecution purposes. When pushed, Thermo Fisher backed off and agreed to stop the sales.
This move has apparently been enough to restore customers’ faith, because Thermo Fisher jumped 20 spots to 124 on the Fortune 500 in 2019.
Biotechnology is a dizzyingly complex space, but Thermo Fisher Scientific is working tirelessly to make it more manageable, and gaining a lot of success while they’re at it.