This Award is in recognition of the company’s significant accomplishment in the development of a portfolio of technologically advanced LIMS products and delivering them to the most rapidly growing market segments.
“Thermo Fisher Scientific exhibits a very high degree of competitive strategy leadership – it leads the LIMS market in terms of innovation and growth, and had a 2007 market share that was almost 12 percentage points higher than its nearest competitor,” says Frost & Sullivan Research Analyst Jonathan Witonsky. “More importantly, Thermo Fisher displayed unparalleled performance when translating its innovation and growth to enhanced value for customers.”
A recent Frost & Sullivan analysis included competitive benchmarking scores that measure LIMS vendors' strengths in several areas related to market positioning & growth, innovation, performance, and competitive growth strategy. Thermo Fisher received over 2 points higher than the average for all U.S. LIMS market competitors on a 12-point scale. These scores reflect Thermo Fisher’s leading 28.7 percent market share and LIMS customer base, which includes 19 of the top 20 global pharmaceutical companies, and the world’s leading players in the oil & gas, chemicals, environmental, food & beverage, forensics, metals & mining, waste water, and many other industries.
Thermo Fisher continually updates its LIMS solutions. For example, the company has incorporated its client feedback into numerous enhancements including those to the Thermo Scientific SampleManager, Darwin, Watson, Nautilus and Galileo product lines. Thermo Fisher is also working with Microsoft to develop solutions aimed at the “next-generation laboratory” and it has Web-enabled its LIMS offerings.
The company is strategically targeting high-growth areas – biorepositories, forensics laboratories, food & beverage companies, and chemical & petrochemical companies – with an extensive LIMS product portfolio that includes purpose-built applications for efficient data management across all discovery, research and manufacturing operations. It is also targeting emerging regional markets such as India and China with its LIMS offering.
“Despite Thermo Fisher’s unmatched size relative to both the LIMS market and the overall life sciences research market, the company’s relationship with its customers matches that of its smallest and most nimble LIMS competitors,” notes Witonsky. “In fact, Thermo Fisher had leading competitive benchmarking scores for ‘Brand Perception,’ ‘Quality,’ and, ‘Customer Value Enhancement.’”
The main reason for these scores is the company’s initiatives that support a very close relationship with its customers. For instance, through the Customer Allegiance through Responsive, Excellent Service or CARES initiative launched in October 2007, Thermo Fisher supports customer satisfaction in areas such as product performance, order fulfillment, technical support, and sales and account management. In addition, the Global Partner Alliance Program will support Thermo Fisher’s strategic direction by helping leverage technology partners and various geographic and industry partners to support expansion into growing segments of the LIMS market.
In recognition of the company’s dedication to continually increasing client value while exploiting new market opportunities, Frost & Sullivan recognizes Thermo Fisher with the 2008 Award for Competitive Strategy Leadership in the U.S. LIMS market.
Each year, Frost & Sullivan presents this Award to the company whose competitive strategy has yielded significant gains in market share during the research period. Often, the recognized company has taken advantage of recent market changes that facilitate the introduction of never-before seen methods of capturing and solidifying market presence. Alternatively, the Award recipient may have executed an innovative strategy within the existing competitive landscape, empowering the company to overtake the competition. In either case, the company captures the attention of the competition, which quickly adjusts in order to protect its own market position. Frost & Sullivan analysts expect such innovations to produce lasting, precedent-setting trends in the industry.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Thermo Fisher Scientific
Thermo Fisher Scientific, Inc. (thermofisher.com) is the world leader in serving science, enabling our customers to make the world healthier, cleaner and safer. With annual revenues of $10 billion, we have more than 30,000 employees and serve over 350,000 customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as environmental and industrial process control settings. Serving customers through two premier brands, Thermo Scientific and Fisher Scientific, we help solve analytical challenges from routine testing to complex research and discovery. Thermo Scientific offers customers a complete range of high-end analytical instruments as well as laboratory equipment, software, services, consumables and reagents to enable integrated laboratory workflow solutions. Fisher Scientific provides a complete portfolio of laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety and education. Together, we offer the most convenient purchasing options to customers and continuously advance our technologies to accelerate the pace of scientific discovery, enhance value for customers and fuel growth for shareholders and employees alike.
About Frost & Sullivan
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