Jakub on genetic testing market
From Jakub Sram of Fulgent Genomics · · SoCalBio
“The genetic testing market was about 3.8 billion dollars in 2015 and has grown to about 6.7 billion dollars by 2021, reflecting a healthy growth trajectory globally.”
On , Jakub, Vice President of Business Development & Sales at FULGENT GENETICS INC, spoke about genetic testing market during Jakub Sram of Fulgent Genomics on SoCalBio.
About Jakub
In a December 2016 presentation at Cal State LA, Jakub Sram, Vice President of Business Development & Sales at Fulgent Genetics (then Fulgent Genomics), described the company as having "the largest catalog of genetic tests in the world," which he said surpassed the combined offerings of approximately 700 other laboratories. He stated that the global genetic testing market was valued at $3.8 billion in 2015 and projected to grow to $6.7 billion by 2021. Sram characterized Fulgent's approach as "something like a Lego for genetic testing," allowing clinicians to design customizable gene panels. Sram noted that Fulgent went public a few months prior to the talk and operated two main laboratories, one in Temple City, Los Angeles, and another in China, each with 80 to 100 employees. He attributed the company's profitability since 2012 to a "very strong management team" with experience building billion-dollar companies, and to proprietary technology combining next-generation sequencing, diagnostics, IT, and biometrics. Sram added that the company's highly automated platform, including adaptive software, enabled it to sequence about 330 genomes per week and lower costs over time.