Question · Q3 2025
Tycho W. Peterson inquired about the drivers of strength in the analytical instruments segment, specifically asking if it was led by mass spectrometry or cryo-electron microscopy, and the momentum expected into year-end, including any early thoughts on a 2026 budget flush or onshoring impact. He also asked about the conditions in China diagnostics and the overall performance of specialty diagnostics excluding the China drag, along with assumptions for China for the remainder of 2025 and early 2026.
Answer
Chairman, President, and CEO Marc Casper attributed analytical instruments' strength to innovation and adoption in mass spectrometry and cryo-electron microscopy, with mid-single-digit growth driven by these areas, despite pressures in chemical analysis. He noted a stronger Q4 comparison due to high single-digit growth last year. For specialty diagnostics, Mr. Casper explained the business provides high-value testing, and while China's weak conditions (pricing/reimbursement) impacted growth, it's a modest proportion of the business, showing slight improvement from the prior quarter.