Analytical Instrument Vendors Post Strong Q2 2025 Growth Driven by Pharma and Chemical Demand

The second quarter of 2025 brought steady gains across the analytical instrument sector, with several major suppliers meeting or exceeding expectations and projecting continued strength through year-end. Revenue growth was supported by broad-based demand across liquid chromatography (LC), gas chromatography (GC), mass spectrometry (MS), and the consumables that keep these systems running.

Despite lingering economic uncertainties, laboratories continue to invest in tools that enable high-throughput analysis, precise quantification, and regulatory-compliant workflows. Pharmaceutical development, environmental monitoring, and chemical research remain the key drivers, highlighting the sector’s resilience even in a complex global market.

For analytical chemists, this quarter’s results reflect the availability of critical instruments, the expansion of consumable pipelines, and the evolution of services that support modern lab operations. Understanding these trends helps chemists anticipate new capabilities, plan for workflow integration, and stay ahead in areas like drug discovery, materials research, and environmental testing.

What follows is a distilled look at the most important takeaways from Q2 2025 for scientists who rely on these technologies to advance their research.

Pharma and Chemical Demand Keep the Instruments Market Resilient

Waters reported Q2 revenue of $771 million, an 8% increase on a constant-currency basis. Instrument sales rose in the mid-single digits, with liquid chromatography and mass spectrometry up high single digits. Recurring revenues, including consumables, grew 11%, led by double-digit gains in chemistry. Demand was particularly strong from large pharmaceutical firms and contract development and manufacturing organizations (CDMOs), with GLP-1 drug research and per- and polyfluoroalkyl substances (PFAS) testing among the key application drivers. Academic and government sales declined slightly (-3%). Waters raised its full-year outlook, citing continued confidence in pharma and generics testing markets.

Building on that momentum, Agilent also reported solid growth in its fiscal Q2 (ended April 30, 2025), delivering $1.67 billion in revenue, up 6% year-over-year. While acknowledging tariff pressures, Agilent emphasized that mitigation measures are underway. Sales to academia and government dipped just 2%, a smaller decline than expected given funding uncertainties. With steady demand for LC, GC, and MS instruments as well as CrossLab services, Agilent raised its full-year revenue guidance while holding earnings per share (EPS) guidance steady—signaling confidence in continued instrument adoption.

Thermo Fisher Scientific posted $10.85 billion in Q2 revenue, up 3% year-over-year, with organic growth of about 2%. The company highlighted resilience across its wide portfolio of instruments, lab products, and services.

Shimadzu’s Analytical & Measuring Instruments division reported ¥75.8 billionin sales, a 2.7% increase, with operating profit up 19.3%. Growth was broad-based across Japan, North America, Europe, and Asia. Under its green domain strategy, GC systems performed strongly in chemical markets, while MS instruments gained traction in pharmaceutical, clinical, and food testing applications.

Takeaways for the Lab

Analytical instrument makers are riding strong demand from the pharmaceutical and chemical sectors. Growth in consumables and recurring revenue shows that labs aren’t just buying new instruments—they’re investing in robust, reproducible workflows that support high-throughput analysis and reliable results.

Investment in LC, GC, and MS platforms remains steady, particularly for applications in drug development, metabolite profiling, and environmental testing. PFAS monitoring, trace-level analysis, and high-resolution proteomics are seeing continued support, reflecting the rising complexity of the chemical and biological questions labs are tackling.

Suppliers are also leaning into automation, software integration, and service support, signaling that modern labs are expected to manage large datasets efficiently and maintain regulatory compliance. Tools like laboratory information management systems (LIMS), workflow automation, and connected analytical systems are increasingly integral to day-to-day operations.

Labs can anticipate incremental instrument upgrades, a broader range of consumables, and enhanced technical support—allowing scientists to focus on discovery, quality control, and innovation as they tackle the challenges of tomorrow.