MGI Tech Dominates China's Gene Sequencer Market with Soaring Installation Share, Far Outpacing Illumina

Recently, MDCLOUD (Medical Device Data Cloud) released the August 2024 bidding report for molecular biology analysis equipment. According to the disclosed brand and amount data compiled by MDCLOUD, MGI performed exceptionally well, ranking first with 16.72% of the total amount, leading Illumina by 3.71 percentage points. Thermo Fisher Scientific ranked third with 10.73% of the total amount.

In the bidding market for gene sequencers, MGI has also performed outstandingly. Previously, statistics from BidNet showed that from July 2023 to June 2024, the bidding market for gene sequencers involved 245 purchasing organizations and 251 winning suppliers, with the number of awarded devices reaching 386 sets, and the total winning amount was approximately 713 million yuan.

In this vast market, MGI leads the pack with a 47.06% market share, far surpassing other brands such as Illumina (15.96%) and Berry Genomics (10.08%). This not only demonstrates the strong competitiveness of MGI's gene sequencing products in the market but also reflects the high recognition from procurement entities of its technical strength and service capabilities, laying a solid foundation for its future market expansion.

As MGI's number of中标 (bids won) and total中标金额 (bid value) in the fields of molecular biology analysis equipment and gene sequencing instruments have significantly increased, its installation volume in the Chinese market has shown a surge-like growth trend, with market share expected to steadily rise.

According to data from authoritative market research firm CIC Consulting, from 2021 to 2023, the sales volume of new equipment in China's gene sequencing device market for MGI has been increasing year by year. In 2021, it accounted for 31.1%, rising to 39.0% in 2022, and reaching 47.3% in 2023. Notably, in 2023 alone, 695 new sequencing instruments were installed, capturing 47.3% of the market share in terms of new installations in the upstream sector of China’s gene sequencing industry, firmly ranking first in the industry. By contrast, Illumina, the global giant in gene sequencing equipment, installed only 389 new sequencing instruments in the Chinese market during the same period, with its market share declining to 26.5%.

At the same time, based on revenue for the year, MGI's market share of revenue in China reached 32.6% in 2023, further solidifying its market position. This series of achievements would not have been possible without MGI's continuous investment and innovation in core technologies, as well as its diverse product portfolio and solutions, which provide research institutions and medical organizations with more efficient and reliable gene sequencing tools. It also demonstrates that MGI has strong competitiveness in product technology and market promotion. By continuously optimizing sequencing technology and expanding product application areas, MGI has successfully attracted a broad customer base, steadily increasing its market share.

The rise of MGI and its successful surpassing of the international giant Illumina not only marks a significant breakthrough for China's gene sequencing equipment in terms of technology and market, but also further enhances China's position in the global gene sequencing industry chain, providing strong support for the in-depth development of life science research in China. At the same time, this signifies that Chinese companies have the capability to compete on par with international brands in the high-end scientific instrument field, offering the global life science research and clinical application sectors more diversified and cost-effective options. It also encourages more Chinese technology companies to increase R&D investment, promote technological innovation, accelerate the process of domestic substitution, and secure greater initiative and new opportunities for China in the global competition within the life sciences.