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What is the size of the total addressable market for 10x Genomics?




10x genomics (NASDAQ: TXG) generated sales of nearly $ 300 million in 2020. The market capitalization of the genomics company is now close to $ 20 billion. But 10x is just getting started. registered on March 11, 2021Motley Fool associate Keith Speights talks to 10x Genomics CEO and co-founder Serge Saxonov about the size of the company’s total addressable market.

Keith Speights: What is your total addressable market? I know your acquisitions have actually increased your total addressable market, haven’t they?

Serge Saxonov:Yeah, they did. It’s a good question. This is a question that is always difficult to answer. The reason this is difficult is that we are not replacing any particular prior technology.

We seek to address the entire market for life science research and ultimately a large portion of clinical diagnostics in the future. We are currently attracting clients and dollars from across the life science research tools market. This total market is currently around $ 60 billion and is growing at a fairly rapid rate as more and more investment in research and biological research is underway.

When you think of clinical diagnostics, it’s a potentially a little bigger market than that, especially since we’re thinking of all the new therapies that will be coming online that will also involve diagnostics to determine which drugs to give to which drugs. patients and when. All of these technologies, now whether you think of it in terms of the short term or the long term, are really huge opportunities here before us.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a premium Motley Fool consulting service. Were motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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