Illumina, Inc.: Will Its Market Dominance In Genetic Analysis Last? 

Illumina Inc. has had a strong first quarter of 2024, which included an encouraging performance from its high[1]throughput consumables, increased revenue from strategic partnerships, and the delivery of a number of NovaSeq X instruments. However, Chief Executive Officer Jacob Thaysen has warned about the persisting uncertain global economic environment and cited customer concerns affecting purchasing decisions. The year’s results were particularly promising considering the challenges posed by the Coronavirus pandemic. Illumina’s revenues were ahead of expectations at approximately $1.06 billion, buoyed by new projects and innovation. The San Diego-based company has seen accelerated interest from customers as they scale up projects using NovaSeq X, and start deep sequencing and iron out regulatory roadblocks.