Presentations made painless

Company > 10x Genomics Inc: Business Model, SWOT Analysis, and Competitors 2023

10x Genomics Inc: Business Model, SWOT Analysis, and Competitors 2023

Published: Jul 12, 2023

Inside This Article


    In this blog article, we will dive into an in-depth analysis of 10x Genomics Inc, focusing on their business model, SWOT analysis, and competitors. As a leading biotechnology company, 10x Genomics has gained significant attention for its innovative solutions in single-cell genomics. We will explore their unique approach to genomics research and development, examine the strengths, weaknesses, opportunities, and threats they face in the market, and compare them to their key competitors. Stay tuned to gain valuable insights into the future of 10x Genomics and the genomics industry as a whole.

    What You Will Learn:

    • Who owns 10x Genomics Inc and the significance of their ownership in the company's operations and success.
    • The mission statement of 10x Genomics Inc and how it influences the company's goals and strategies.
    • How 10x Genomics Inc generates revenue and the key factors that contribute to its financial success.
    • An in-depth explanation of 10x Genomics Inc's business model canvas and its components.
    • The major competitors of 10x Genomics Inc and their impact on the company's market position and growth.
    • A comprehensive SWOT analysis of 10x Genomics Inc, highlighting its strengths, weaknesses, opportunities, and threats in the industry.

    Who owns 10x Genomics Inc?

    Overview of Ownership

    When it comes to understanding the ownership structure of a company, it helps to delve into the key players behind its success. In the case of 10x Genomics Inc., a leading biotechnology company specializing in single-cell genomics, several entities hold significant ownership stakes. Let's take a closer look at who owns 10x Genomics Inc.

    Founders and Early Investors

    10x Genomics was co-founded in 2012 by Dr. Serge Saxonov, Dr. Ben Hindson, and Dr. Kevin Ness. As pioneers in the field of genomics, they envisioned a new approach to analyze individual cells at scale. Their groundbreaking technology has revolutionized the way researchers study complex biological systems, driving rapid growth for the company.

    The founding team retains a substantial ownership interest in 10x Genomics. Their expertise and vision continue to guide the company's strategic direction, ensuring its continued success in the genomics market.

    In addition to the founders, early investors played a crucial role in supporting 10x Genomics during its initial stages. These investors often include venture capital firms and individuals who provide funding and expertise to help the company grow. While specific details about early investors' ownership stakes may not be publicly available, their contributions are acknowledged as significant contributors to the company's success.

    Public Investors

    As 10x Genomics Inc. experienced rapid growth and gained prominence in the genomics industry, it decided to go public. In September 2019, the company debuted on the NASDAQ stock exchange under the ticker symbol "TXG." Going public allowed 10x Genomics to raise additional capital to fuel its expansion plans and provided an opportunity for public investors to own a piece of the company.

    Public investors, including institutional investors and individual shareholders, now hold a portion of 10x Genomics' ownership. These investors purchase and trade shares of the company's stock on the open market. The exact distribution of ownership among public investors can fluctuate as shares are bought and sold.

    Major Shareholders

    While detailed information about individual shareholders may not be readily available, certain institutions and entities often emerge as major shareholders based on their significant ownership stakes. These major shareholders can include mutual funds, pension funds, and other investment firms with substantial holdings in 10x Genomics Inc.

    It is worth noting that ownership stakes can change over time as investors adjust their positions. Regular filings with the Securities and Exchange Commission (SEC) provide updated information on institutional investors' holdings, shedding light on the evolving ownership landscape of 10x Genomics Inc.


    As a company at the forefront of single-cell genomics, 10x Genomics Inc. has attracted a diverse group of owners. From its founding team and early investors to public shareholders and major institutional holders, each entity plays a vital role in shaping the company's trajectory. Understanding the ownership structure of 10x Genomics provides valuable insights into the stakeholders driving its continued innovation and success.

    What is the mission statement of 10x Genomics Inc?

    The Mission Statement of 10x Genomics Inc

    10x Genomics Inc, a leading biotechnology company, has a clear and concise mission statement that drives its operations and vision for the future. The mission statement of 10x Genomics Inc is as follows:

    "Our mission is to accelerate the understanding of biology to advance human health."

    This succinct statement encapsulates the company's commitment to leveraging innovative technologies and solutions to enhance our understanding of biological systems, ultimately leading to advancements in human health.

    By focusing on the core objective of accelerating the understanding of biology, 10x Genomics Inc aims to revolutionize the field of genomics and empower researchers and scientists to unlock new insights into the complexities of life. The company recognizes that a deeper understanding of biological processes is essential for developing novel therapies, diagnostics, and personalized medicine.

    The mission statement also emphasizes 10x Genomics Inc's dedication to advancing human health. The company acknowledges the importance of translating scientific discoveries into tangible benefits for patients and society as a whole. Through their cutting-edge genomic technologies and collaborative efforts with researchers and clinicians, 10x Genomics Inc aims to contribute to the development of improved healthcare solutions that address unmet medical needs.

    In pursuing its mission, 10x Genomics Inc adopts a multidisciplinary approach, combining genomics, molecular biology, engineering, and computational biology to create innovative tools and platforms. These technologies enable researchers to explore previously uncharted territories of the genome, enabling breakthroughs in understanding diseases, uncovering new drug targets, and ultimately improving patient outcomes.

    Overall, the mission statement of 10x Genomics Inc serves as a guiding principle that shapes the company's strategic decisions and directs its efforts towards making significant contributions to the field of genomics and human health.

    How does 10x Genomics Inc make money?

    Product Sales

    One of the primary sources of revenue for 10x Genomics Inc is through the sales of their products. The company offers a range of innovative solutions for genetic analysis, including their flagship product, the Chromium System. This system enables researchers to examine genomic information at single-cell resolution, allowing for a deeper understanding of biological systems.

    10x Genomics Inc also offers a variety of consumables and reagents that are essential for running their systems. These products are designed to support various applications, such as single-cell gene expression profiling, immune profiling, and spatial transcriptomics. By providing these essential tools, the company generates revenue from the ongoing sales of these consumables to its customers.

    Service Contracts and Support

    In addition to product sales, 10x Genomics Inc also generates revenue through service contracts and support. The company offers comprehensive service plans that provide customers with access to technical support, training, and maintenance services. These contracts ensure that customers receive ongoing assistance and expertise to optimize the performance and reliability of their 10x Genomics systems.

    By offering these service contracts, 10x Genomics Inc not only generates additional revenue but also fosters long-term relationships with customers. This approach helps to build customer loyalty and ensures that researchers can continue to rely on the company's products and services for their genetic analysis needs.

    Collaborations and Partnerships

    Another way that 10x Genomics Inc generates revenue is through collaborations and partnerships with academic institutions, research organizations, and pharmaceutical companies. Through these collaborations, the company can leverage its expertise and technologies to address specific research questions or develop novel applications in various fields.

    These partnerships often involve joint research projects or co-development of new products. 10x Genomics Inc may receive funding or licensing fees from these collaborations, enabling the company to monetize its technologies and expand its product portfolio.

    Intellectual Property Licensing

    10x Genomics Inc holds a significant portfolio of intellectual property (IP) related to its innovative technologies and products. The company actively protects its IP through patents, trademarks, and copyrights. By licensing its IP to other companies or researchers, 10x Genomics Inc can generate revenue through royalties, upfront fees, or milestone payments.

    This strategy not only provides a source of income but also allows the company to extend the reach of its technologies beyond its direct customer base. Licensing agreements enable other companies to utilize 10x Genomics' IP in their own research and development efforts, further advancing the field of genetic analysis.

    Overall, 10x Genomics Inc employs a multi-faceted approach to generate revenue. Through product sales, service contracts, collaborations, and intellectual property licensing, the company ensures a sustainable business model while continuing to drive innovation in the field of genomics.

    10x Genomics Inc Business Model Canvas Explained

    Introduction to 10x Genomics Inc

    10x Genomics Inc is a biotechnology company that focuses on developing innovative solutions for genomic research. The company's mission is to accelerate scientific discovery and enable the understanding of complex biological systems at an unprecedented level of resolution. By leveraging their proprietary technologies, 10x Genomics Inc aims to provide researchers with the tools they need to unlock the full potential of genomics.

    Key Partnerships

    One of the key elements of 10x Genomics Inc's business model is its strategic partnerships. The company collaborates with leading academic institutions, research organizations, and pharmaceutical companies to drive innovation and facilitate the adoption of its technologies. These partnerships not only provide access to valuable resources and expertise but also help in expanding the company's reach and market presence.

    By working closely with academic and research institutions, 10x Genomics Inc gains insights into the needs and challenges of the scientific community. This allows the company to develop products and services that cater to these specific requirements, ensuring high customer satisfaction. Additionally, partnering with pharmaceutical companies enables 10x Genomics Inc to tap into the rapidly growing market for precision medicine and drug discovery.

    Key Activities

    The core activities of 10x Genomics Inc revolve around the development, manufacturing, and distribution of its innovative genomic technologies. The company invests heavily in research and development to stay at the forefront of technological advancements in the field of genomics. This enables 10x Genomics Inc to continuously improve its existing products and develop new solutions that address emerging scientific challenges.

    Manufacturing plays a crucial role in the business model of 10x Genomics Inc. The company operates state-of-the-art manufacturing facilities to ensure the production of high-quality and reliable instruments and reagents. By maintaining tight control over the manufacturing process, 10x Genomics Inc can deliver products that meet the stringent requirements of the scientific community.

    Distribution is another key activity for 10x Genomics Inc. The company has a well-established global distribution network that enables it to reach researchers and customers worldwide. Through partnerships with distributors and direct sales, 10x Genomics Inc ensures efficient and timely delivery of its products, enhancing customer satisfaction and market penetration.

    Customer Segments

    10x Genomics Inc serves a diverse range of customer segments within the genomics research community. These include academic researchers, biotechnology companies, pharmaceutical companies, and clinical laboratories. Each segment has specific needs and requirements, and 10x Genomics Inc tailors its products and services to cater to these demands.

    Academic researchers form a significant customer segment for 10x Genomics Inc. These researchers often work on cutting-edge projects and require advanced genomic technologies to unravel complex biological systems. By providing them with powerful tools, 10x Genomics Inc helps accelerate scientific discovery and contributes to the advancement of knowledge.

    Biotechnology and pharmaceutical companies also rely on 10x Genomics Inc's products and services for their drug discovery and development efforts. The company's technologies enable these companies to gain a deeper understanding of disease mechanisms, identify potential drug targets, and develop more effective therapies.

    Clinical laboratories represent another important customer segment for 10x Genomics Inc. These labs use the company's technologies to perform genetic testing and diagnostics, aiding in the early detection and treatment of various diseases.

    Key Resources

    To support its business activities, 10x Genomics Inc relies on a variety of key resources. Intellectual property is a crucial asset for the company, as it protects its proprietary technologies and gives 10x Genomics Inc a competitive advantage in the market. The company invests in research and development to continuously expand its intellectual property portfolio and stay ahead of the competition.

    Another key resource for 10x Genomics Inc is its team of talented and experienced scientists, engineers, and business professionals. The company's success relies on the expertise and dedication of its employees, who drive innovation, develop new products, and provide excellent customer support.

    In terms of physical resources, 10x Genomics Inc operates advanced manufacturing facilities to produce its instruments and reagents. These facilities are equipped with cutting-edge technologies and adhere to strict quality control standards to ensure the production of high-quality products.

    Revenue Streams

    10x Genomics Inc generates revenue through the sale of its products and services. The company offers a range of solutions, including instruments, consumables, and software, to meet the diverse needs of its customers. These products are sold through a combination of direct sales and partnerships with distributors.

    Additionally, 10x Genomics Inc provides customers with support and maintenance services to ensure the optimal performance of its products. This includes technical assistance, training, and software updates. These services not only enhance customer satisfaction but also generate additional revenue for the company.


    The business model canvas of 10x Genomics Inc highlights the key elements that drive the company's success in the genomics research market. Through strategic partnerships, focused activities, customer segmentation, key resources, and diverse revenue streams, 10x Genomics Inc is able to deliver innovative solutions that empower researchers and advance scientific discovery. As the field of genomics continues to evolve, 10x Genomics Inc remains committed to pushing the boundaries of what is possible in genomic research.

    Which companies are the competitors of 10x Genomics Inc?


    In the rapidly evolving field of genomics, 10x Genomics Inc. has emerged as a leading player. However, like any successful company, they face competition from other players in the market. This section will discuss the main competitors of 10x Genomics Inc. and shed light on their respective offerings and strengths.

    Illumina Inc.

    One of the strongest competitors of 10x Genomics Inc. is Illumina Inc. Illumina is a renowned biotechnology company that specializes in genetic sequencing and array-based technologies. With a strong market presence, Illumina offers a wide range of products and solutions for genomics research.

    Illumina's flagship product, the NovaSeq System, is a high-throughput sequencing platform that enables researchers to sequence genomes at an unprecedented scale. This technology allows for the analysis of large datasets and facilitates various applications such as single-cell sequencing, whole-genome sequencing, and transcriptomics.

    Pacific Biosciences of California Inc.

    Another significant competitor of 10x Genomics Inc. is Pacific Biosciences of California Inc. (PacBio). PacBio is a company known for its long-read sequencing technology, which provides highly accurate and comprehensive genomic data. This technology is particularly useful in applications like de novo genome assembly, structural variant detection, and haplotype phasing.

    PacBio's flagship product, the Sequel System, offers long-read sequencing capabilities that complement the short-read sequencing technology offered by 10x Genomics Inc. This allows researchers to obtain a more complete picture of the genome, including complex genomic variations that may be missed by short-read sequencing alone.

    BGI Group

    BGI Group, a leading genomics organization based in China, is also a significant competitor of 10x Genomics Inc. Known for its extensive sequencing capabilities and research collaborations, BGI offers a wide range of genomics services and products.

    BGI's complete genomics solutions cover various areas, including whole-genome sequencing, transcriptomics, metagenomics, and single-cell sequencing. With its strong focus on innovation and large-scale sequencing projects, BGI remains a formidable competitor in the genomics market.


    While 10x Genomics Inc. has established itself as a prominent player in the genomics industry, it faces competition from companies such as Illumina Inc., Pacific Biosciences of California Inc., and BGI Group. Each competitor brings unique strengths and offerings to the market, creating a dynamic environment that drives innovation and advancement in genomics research. Researchers and scientists benefit from the diverse options available, allowing them to choose the best solutions for their specific genomic needs.

    10x Genomics Inc SWOT Analysis


    • Cutting-edge technology: 10x Genomics Inc has developed a unique and innovative technology platform that allows for single-cell analysis at an unprecedented scale. Their products enable researchers to gain deeper insights into the complexities of biology and accelerate scientific discovery.
    • Strong intellectual property portfolio: The company holds a robust portfolio of patents and proprietary technologies, which gives them a competitive advantage in the genomics industry. This intellectual property protection helps safeguard their innovations and provides barriers to entry for potential competitors.
    • Broad customer base: 10x Genomics Inc serves a diverse range of customers, including academic and government institutions, pharmaceutical companies, and biotechnology firms. Their broad customer base provides them with a stable and consistent revenue stream, reducing dependency on any single sector.
    • Strong financial performance: The company has demonstrated strong financial performance over the years, with consistently growing revenues and profitability. This financial stability allows them to invest in research and development, expand their product offerings, and pursue strategic partnerships and acquisitions.


    • Reliance on research funding: As a significant portion of 10x Genomics Inc's customer base consists of academic and government institutions, the company is susceptible to fluctuations in research funding. Reductions in research budgets or policy changes could potentially impact their sales and revenue.
    • Limited product portfolio: While 10x Genomics Inc's technology platform is highly advanced, their product portfolio is relatively limited compared to some competitors. This narrow focus may create opportunities for competitors to develop more comprehensive solutions and gain market share.
    • High research and development costs: Developing cutting-edge genomics technologies requires substantial investments in research and development. 10x Genomics Inc's ongoing commitment to innovation and product development necessitates significant expenditure, which could impact their profitability in the short term.


    • Growing genomics market: The genomics market is experiencing rapid growth, driven by advancements in technology, increased adoption of personalized medicine, and rising demand for genomics research. 10x Genomics Inc is well-positioned to capitalize on this market expansion and increase its market share by leveraging its advanced technology platform.
    • Expansion into new markets: While 10x Genomics Inc primarily focuses on the research market, there is an opportunity for the company to expand into clinical applications. The ability to analyze single cells at a large scale could have significant implications in diagnostics, drug development, and precision medicine.
    • Strategic partnerships and collaborations: 10x Genomics Inc has the potential to form strategic partnerships and collaborations with other key players in the genomics industry. These alliances could lead to the development of new products, access to new markets, and shared expertise, strengthening the company's competitive position.


    • Intense competition: The genomics industry is highly competitive, with numerous established players and emerging startups vying for market share. 10x Genomics Inc faces the risk of increased competition, which could result in pricing pressures, loss of market share, or reduced profitability.
    • Regulatory challenges: The genomics industry is subject to various regulations, including data privacy, ethical considerations, and compliance with FDA guidelines for clinical applications. Adapting to evolving regulatory frameworks and ensuring compliance can pose challenges for 10x Genomics Inc.
    • Technological advancements by competitors: As genomics technologies continue to evolve, competitors may develop alternative or superior solutions that could potentially disrupt 10x Genomics Inc's market position. Staying at the forefront of innovation and continuously improving their technology platform is crucial to mitigate this threat.

    Key Takeaways

    • Key takeaways from the blog post about 10x Genomics Inc include understanding who owns the company, which can provide insights into its overall direction and potential partnerships.
    • The mission statement of 10x Genomics Inc is important to understand as it outlines the company's goals and objectives, which may include advancements in genomics research and technology.
    • Knowing how 10x Genomics Inc generates revenue is crucial in understanding its financial stability and growth potential. This may involve selling instruments, consumables, and providing services.
    • The Business Model Canvas explained in the blog post sheds light on the various components that make up 10x Genomics Inc's business model, such as key resources, activities, and customer segments.
    • Identifying the competitors of 10x Genomics Inc is valuable as it allows for a comparison of strengths, weaknesses, and market positioning, providing insights into the company's competitive landscape.


    In conclusion, 10x Genomics Inc is privately owned, with ownership held by various venture capital firms and institutional investors. The mission statement of the company is to "accelerate the understanding of biology and human health."

    10x Genomics Inc generates revenue through the sale of their innovative products and solutions, including their patented Chromium System, which enables single-cell genomics research and analysis. They also offer other tools and services that cater to the genomics and life sciences industries.

    Analyzing their business model canvas, it is evident that 10x Genomics Inc operates as a platform-based company, connecting researchers and scientists with their cutting-edge technology. By providing high-quality products and services, they create value for their customers and generate revenue through direct sales and licensing agreements.

    In terms of competition, 10x Genomics Inc faces competition from other companies in the genomics and life sciences industry. Major competitors include Illumina, Pacific Biosciences, and Bio-Rad Laboratories. These companies also offer technologies and solutions for genomics research, posing a challenge to 10x Genomics Inc's market share and growth potential.

    Lastly, a SWOT analysis of 10x Genomics Inc highlights their strengths in technological innovation and strong partnerships, which have allowed them to establish a solid foothold in the market. However, they also face weaknesses in terms of pricing and competition. Opportunities lie in the growing demand for genomics research and potential expansion into new markets. They must also address threats such as regulatory challenges and potential disruptions in the industry.

    Overall, 10x Genomics Inc has positioned itself as a key player in the genomics industry, continuously striving to revolutionize the understanding of biology and human health through their innovative products and solutions.


    Is 10x Genomics a good company?

    As an AI language model, I don't have personal opinions. However, I can provide you with some information. 10x Genomics is a biotechnology company that focuses on developing solutions for single-cell genomics and spatial transcriptomics. They have gained recognition for their innovative technologies in genomics research. Their products have been widely adopted by researchers in various fields, including cancer research, immunology, and developmental biology. Ultimately, whether a company is considered "good" depends on various factors, such as market performance, customer satisfaction, and the impact of their products. It is recommended to conduct thorough research and consider multiple perspectives before forming an opinion.

    Who are 10x Genomics competitors?

    Some of the competitors of 10x Genomics include:

    1. Illumina
    2. Pacific Biosciences
    3. Oxford Nanopore Technologies
    4. Bio-Rad Laboratories
    5. Thermo Fisher Scientific
    6. Qiagen
    7. Fluidigm Corporation
    8. Becton, Dickinson and Company
    9. Agilent Technologies
    10. Roche Diagnostics

    What are the advantages of 10x Genomics?

    There are several advantages of 10x Genomics, a biotechnology company specializing in single-cell genomics and spatial transcriptomics:

    1. Single-cell resolution: 10x Genomics provides solutions for single-cell analysis, allowing researchers to study individual cells and their genetic profiles. This high-resolution approach enables the identification and characterization of rare cell populations and subtypes, leading to a deeper understanding of cellular heterogeneity.

    2. Enhanced genomic information: By leveraging their proprietary technology, 10x Genomics enables the sequencing of long fragments of DNA, providing more comprehensive genomic information compared to traditional short-read sequencing methods. This enhanced genomic coverage facilitates the detection of structural variations, gene fusions, and other complex genomic events.

    3. Spatial transcriptomics: 10x Genomics offers spatial transcriptomics, a technique that allows researchers to study gene expression within the context of tissue architecture. This technology enables the visualization of gene expression patterns in tissue sections, facilitating insights into cell-to-cell interactions, developmental processes, and disease mechanisms.

    4. Scalability: 10x Genomics provides scalable solutions that can process thousands to millions of cells in a single experiment. This scalability is particularly advantageous for large-scale studies, such as comprehensive immune profiling or understanding cellular dynamics during development or disease progression.

    5. User-friendly platforms: The products and workflows developed by 10x Genomics are designed to be user-friendly, making them accessible to researchers with varying levels of expertise. The company offers integrated hardware, software, and reagent solutions, simplifying experimental setup, data analysis, and interpretation.

    6. Broad applications: 10x Genomics technologies are applicable across various research areas, including cancer research, immunology, neurology, developmental biology, and more. The versatility of their solutions allows researchers to explore diverse biological questions and gain insights into various biological processes and diseases.

    7. Collaborative ecosystem: 10x Genomics fosters a collaborative ecosystem, actively engaging with researchers and the scientific community. They provide comprehensive technical support, online resources, and actively collaborate with researchers to develop new applications and improve their existing technologies.

    Overall, the advantages of 10x Genomics lie in their ability to provide high-resolution genomic information, scalable solutions, and user-friendly platforms, facilitating a wide range of applications in single-cell genomics and spatial transcriptomics.

    What are the core values of 10x Genomics?

    The core values of 10x Genomics are:

    1. Innovation: 10x Genomics is committed to driving scientific breakthroughs through continuous innovation in genomics technologies.

    2. Collaboration: The company believes in fostering collaboration and partnerships with researchers and scientists to advance genomics research and discovery.

    3. Customer Focus: 10x Genomics prioritizes understanding and meeting the needs of their customers, ensuring their success and satisfaction.

    4. Integrity: The company operates with integrity, maintaining high ethical standards in all aspects of their business operations.

    5. Excellence: 10x Genomics strives for excellence in everything they do, from product development to customer support, to deliver the highest quality solutions.

    6. Diversity and Inclusion: The company values diversity and inclusion, fostering an inclusive environment where all individuals can thrive and contribute to scientific advancements.

    7. Impact: 10x Genomics is driven by the desire to make a significant positive impact on the world by enabling transformative discoveries in genomics research.

    8. Accountability: The company takes responsibility for their actions and results, ensuring transparency and accountability in their work.

    9. Continuous Learning: 10x Genomics promotes a culture of continuous learning and personal growth, encouraging employees to expand their knowledge and skills.

    10. Sustainability: The company is committed to sustainable practices, both environmentally and economically, to contribute to a better future.

    Want to create a presentation now?

    • instantly

      Instantly Create A Deck

      Let PitchGrade do this for me

    • smile

      Hassle Free

      We will create your text and designs for you. Sit back and relax while we do the work.

    Explore More Content