Thermo Fisher Bets on India's Biopharma Boom With 15-20% Customer-Growth Target

Thermo Fisher Scientific expects its Indian customer base to expand by 15% to 20% during the next five years, betting that India will become increasingly important in global pharmaceutical research, manufacturing and advanced technology.

The US-based life-sciences company supplies laboratories and drug developers with analytical equipment, genetic-analysis products, antibodies and other scientific tools.

Srinath Venkatesh, Thermo Fisher's managing director for India and South Asia, told Reuters that increasing numbers of laboratories are working towards global quality standards, expanding demand for the company's products.

Thermo Fisher expects continuing double-digit growth in India, driven not only by biopharmaceutical companies but also by semiconductor manufacturing and clean-energy industries.

The company is also positioning itself to benefit from India's growing role in medicines connected with obesity treatment, as more domestic pharmaceutical manufacturers expand work in that therapeutic area.

India is already among Thermo Fisher's fastest-growing markets in the Asia-Pacific region. Asia-Pacific accounts for approximately 18% of the company's global revenue, according to executives interviewed by Reuters.

Thermo Fisher employs more than 5,000 people in India and intends to expand its workforce, with particular emphasis on customer-facing roles as its operations grow.

The broader significance extends beyond one company's sales forecast. India has spent years attempting to move further up the pharmaceutical value chain - from large-scale generic drug manufacturing towards research, biologics, innovative therapies and sophisticated laboratory infrastructure.

If that transition accelerates, it could strengthen India's position in global medicine supply chains while creating demand for scientists, laboratory professionals and advanced manufacturing workers.

Thermo Fisher's forecast is still a corporate projection rather than a guaranteed outcome. But the company's willingness to expand personnel and infrastructure demonstrates the level of commercial confidence surrounding India's developing life-sciences ecosystem.

Source attribution: Thermo Fisher Scientific executives; Reuters, 10 August 2026.