Illumina, Inc. (ILMN) and Qiagen N.V. (QGEN) are two prominent companies working in the diagnostics and research fields. ILMN is a sequencing and array-based technologies provider for genetic analysis, serving customers in the research, clinical, and applied markets. The company’s products are used for life sciences, oncology, reproductive health, agriculture, and other emerging segments. In comparison, Netherlands-based QGEN provides a sample to insight solutions that transform biological materials into valuable molecular insights worldwide. It provides its workflows to customers in Molecular Diagnostics, Applied Testing (forensics, veterinary testing, and food safety), pharmaceutical and biotechnology companies, and Academia (life sciences research).
The integration of new technologies and the rising need for advanced diagnostic devices and molecular testing to analyze the early development and progression of critical diseases have allowed the diagnostics and research industry to grow significantly lately. Rising investments in the industry make its long-term prospects bright. The clinical diagnostics market is expected to grow at a 6.1% CAGR to reach $93.85 billion by 2026. So, both QGEN and ILMN should benefit.
