Illumina IPO

Illumina is the dominant global provider of DNA sequencing and microarray-based analysis systems, commanding approximately 80% of the global sequencing market. The company's platforms enable researchers and clinicians to sequence genomes, analyze genetic variations, and study gene expression patterns across applications ranging from basic research to clinical diagnostics. Illumina's technology has been instrumental in major genomic initiatives including the Human Genome Project's completion and large-scale population sequencing studies.

The company's competitive moat stems from its proprietary sequencing-by-synthesis chemistry and continuous innovation in throughput, accuracy, and cost reduction. Illumina has driven the cost of genome sequencing from millions of dollars to under $1,000, democratizing genomic research and enabling new applications in personalized medicine, agriculture, and drug discovery. The company also operates GRAIL, a multi-cancer early detection business that was spun out and reacquired amid regulatory scrutiny.