Thermo Fisher Scientific Inc. and Illumina, Inc. Notable Market Participants of Genetic Testing Services Market
The genetic testing services market is highly competitive, with a considerable number of players operating in the market. Most of the companies operating in the genetic testing services market have a global presence with wide distribution and sales networks through partnerships or authorized dealers.
The most notable market participants in the genetic testing services market include Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, F. Hoffmann-La Roche Ltd., Illumina, Inc., and 23andMe, Inc. among others. These players hold a considerable share in the genetic testing services market owing to their product offerings.
The companies operating in the market have undertaken various growth strategies to strengthen their position in the market. Some of the commonly witnessed developments in the market were mainly inorganic, such as acquisitions and partnership. An acquisition helps to increase the market share of a company quickly and also reduces the barriers a company might face while venturing into a new market. Various players in the market have preferred to acquire other players as it is less expensive, less risky, and faster compared to other organic growth methods such as sales and marketing efforts. Some of the inorganic developments witnessed in the genetic testing services market during previous years include:
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Year |
News |
Region |
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2020 |
Illumina Inc. has announced partnership with Roche. The partnership was carried out to increase patient access to transformative genomic testing technology, accurately. The partnership will also enhance the timely diagnosis, therapeutic selection, and monitoring of right treatment. Also, Roche will integrate Illumina’s comprehensive pan-cancer assay TruSight Oncology 500 (TSO 500) with its new companion diagnostic (CDx) claims. |
North America |
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2018 |
Thermo Fisher Scientific announced the acquisition of IntegenX. IntegenX has been developing rapid DNA testing technology for human identification for use in forensics and law enforcement. The company in 2015, has launched RapidHIT System, which is the first-generation STR-based human identification system that is also compatible with Thermo Fisher’s STR kits |
North America |
