Life Science is one of the leading players in the attractive global life science tools industry. The business has a global presence across the laboratory and process markets – two broad customer sub-segments with differing needs. The strategy in laboratory markets is based on three success factors: a broad and attractive portfolio, a simple customer interface and an organization able to deal with complexity, for example more than 70,000 products serving over 1 million customers. The three key success factors for the process markets strategy are a deeply technical field force, product depth in developed markets as well as portfolio breadth in emerging markets.
Life Science will focus on expanding its presence across laboratories in emerging geographies as well as gaining share of wallet in North America. Life Science aims to continue to grow above market by accelerating growth in the process solutions and key laboratory businesses. This includes maintaining above-market R&D investments to remain on the innovation forefront, solving customer needs and delivering sustainable, profitable growth.
The acquisition of Sigma-Aldrich in 2015 established one of the leading players in the life science industry, fostering key capabilities fully in line with the business strategy.