Element Biosciences vs Illumina
Illumina holds the stronger position because its scale and blocked giant-copy risk outweigh the rival pressure it faces, while Element Biosciences is still proving it can hold onto the ground it has gained.
Element Biosciences
Makes AVITI benchtop DNA sequencers challenging Illumina's grip on genomics
Illumina
Illumina makes the DNA sequencing machines and consumables that power most gene sequencing worldwide.
Dimension by dimension
| Dimension | Element Biosciences | Illumina |
|---|---|---|
| Staying power of the core product | Element's AVITI and VITARI sequencers are gaining installs but the base is still small and new. | Illumina's sequencers and consumables run most of the world's DNA sequencing today, giving it a much larger and older installed base. |
| Exposure to AI absorbing the product | Marked unlikely to be replaced by AI models since it's physical lab hardware. | Also marked unlikely for the same reason, its hardware and chemistry aren't something AI software can substitute. |
| How easily a giant could copy them | Rated possible, meaning a larger company could still replicate Element's avidity chemistry approach. | Rated blocked, reflecting Illumina's entrenched position and patent protections. |
| Pressure from rivals | Faces pressure mainly from Illumina itself through pricing and litigation, not from a wide field of competitors. | Faces pressure from four separate competitors, PacBio, MGI, Ultima Genomics, and Oxford Nanopore, all chipping at its edges. |
| Growth momentum | AVITI installs jumped from 40 to over 190 units in about a year, a fast pace for a newer entrant. | Quarterly revenue slipped from $1.16 billion to $1.09 billion between Q4 2025 and Q1 2026. |
| Financial footing | Disclosed 2023 revenue was just over $25 million, a small figure by industry standards. | Reported $4.10 billion in FY2025 revenue, still generating over $1 billion per quarter. |
Questions people ask
- Which company is safer from AI disruption, Element Biosciences or Illumina?
- Neither company is at much risk here. Both Element Biosciences and Illumina are rated unlikely to have their products absorbed by AI, since DNA sequencing depends on physical lab hardware that AI software can't replace.
- Could a big tech giant just copy Element Biosciences' technology?
- It's rated as possible, meaning a larger competitor could still reproduce Element's avidity chemistry approach. Illumina, by contrast, is rated blocked, reflecting its more entrenched and protected position.
- Who is growing faster, Element or Illumina?
- Element's AVITI install base grew from 40 to over 190 units within about a year, a strong pace for a newer company. Illumina's quarterly revenue moved the other way, dropping from $1.16 billion to $1.09 billion over a similar stretch.
- Is Illumina losing market share to smaller competitors?
- Illumina faces pressure from PacBio, MGI, Ultima Genomics, and Oxford Nanopore, all gaining ground with cheaper or long-read alternatives. Element's pressure is narrower, coming mostly from Illumina's own pricing moves and litigation rather than a wide field of rivals.
- Which company has stronger finances, Element Biosciences or Illumina?
- Illumina is far ahead on scale, reporting $4.10 billion in FY2025 revenue and over $1 billion per quarter. Element's disclosed 2023 revenue was just over $25 million, a much smaller base to work from.
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