Illumina vs Singular Genomics
Illumina holds the stronger position because it runs on billions in yearly revenue and a sequencing base rivals struggle to dislodge, while Singular Genomics was taken private at a price below its IPO after years of tiny revenue.
Illumina
Illumina makes the DNA sequencing machines and consumables that power most gene sequencing worldwide.
Singular Genomics
Spatial biology and sequencing instrument maker, now a small private Deerfield-owned subsidiary
Dimension by dimension
| Dimension | Illumina | Singular Genomics |
|---|---|---|
| Staying power of the core product | Illumina's sequencing machines and consumables remain the default choice for most gene sequencing work worldwide. | Singular Genomics sells the G4X spatial multiomics sequencer into a market where 10x Genomics already holds about 95% share. |
| Exposure to AI absorbing the product | AI is unlikely to absorb Illumina's sequencing hardware and consumables business. | AI is unlikely to absorb Singular's sequencing hardware and consumables business. |
| How easily a giant could copy them | Illumina's large installed base of sequencing instruments, its broad consumables business, and years of accumulated intellectual property make its position difficult for a larger company to easily replicate. | A larger company could likely replicate Singular's spatial sequencing approach. |
| Pressure from rivals | PacBio, MGI, Ultima Genomics, and Oxford Nanopore are chipping away at Illumina's NovaSeq X business with cheaper or long-read alternatives. | 10x Genomics dominates the spatial market Singular is trying to enter, and Illumina itself is now moving into spatial transcriptomics too. |
| Financial footing | Illumina posted $4.10B in full-year revenue and over $1B in quarterly revenue in its most recent reports. | Singular reported just $1.08M in quarterly revenue in late 2023 and was taken private at $20 a share, below its $22 IPO price. |
| Scale of the underlying business | Illumina's billions of dollars in annual revenue and its long-standing lead in global sequencing give it a scale far beyond Singular Genomics. | Singular Genomics remains a small player, having generated only about $1.08M in quarterly revenue in late 2023 while competing against dominant, established genomics tool makers. |
Questions people ask
- Singular Genomics vs Illumina, which one is better positioned for the AI era
- Illumina is better positioned because it generates billions in revenue and holds a sequencing base that competitors have struggled to displace. Singular Genomics, by contrast, was taken private at a price below its IPO after reporting only about $1 million in quarterly revenue.
- Is Singular Genomics still a public company
- No, Singular Genomics was taken private in a Deerfield-led acquisition at $20.00 per share in cash, closing in February 2025. Illumina remains publicly traded and continues to report quarterly revenue.
- Who faces more competition, Singular Genomics or Illumina
- Singular Genomics faces intense competition from 10x Genomics, which holds roughly 95% of the spatial transcriptomics market it is trying to enter, plus Illumina itself moving into that space. Illumina faces competition too, from PacBio, MGI, Ultima Genomics, and Oxford Nanopore, but its overall base of business is larger and harder to unseat.
- Could a big tech or biotech giant easily copy either company's product
- A giant could likely copy Singular Genomics' spatial sequencing approach, according to the assessment. Illumina's position is marked as blocked from that kind of easy replication.
- Does AI threaten to replace either Singular Genomics or Illumina
- No, AI is described as unlikely to absorb the core product of either company. Both make physical sequencing hardware and consumables rather than software that AI could substitute for directly.
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