Myriad Genetics, Inc. - Common Stock (MYGN)

Competitors to Myriad Genetics, Inc. - Common Stock (MYGN)

23andMe, Inc. 

23andMe operates in the genetic testing market but primarily focuses on consumer genetic testing as opposed to clinical testing for hereditary diseases, which is Myriad's main arena. While Myriad's competitive advantage lies in its clinical applications, 23andMe's ability to tap into direct-to-consumer markets and its large customer base allow it to gather vast genetic data, which positions it well for advancements in personalized medicine and ancestry testing. Thus, they each occupy different niches within the genetic testing landscape, yet potential overlaps could lead to future competition.

Caris Life Sciences

Caris Life Sciences focuses heavily on precision medicine through comprehensive molecular profiling, which includes genetic testing for cancer treatment decisions, making them a formidable competitor to Myriad. Caris sets itself apart through a multi-modal approach—combining genetic, transcriptomic, and proteomic data to offer detailed insights that enhance treatment decisions. This holistic perspective can give Caris a competitive edge over Myriad's more traditional testing modalities, particularly when it comes to oncology. Nonetheless, Myriad's established market presence and brand recognition in hereditary cancer testing provide it with significant strength.

Fulgent Genetics, Inc. 

Fulgent Genetics competes with Myriad Genetics by offering a diverse array of genetic testing products, including hereditary cancer tests and panels. Fulgent differentiates itself by utilizing a customizable testing approach that allows physicians to tailor genetic tests based on patient needs. This flexibility, combined with competitive pricing, positions Fulgent as a significant player in the market. Myriad, however, has leveraged its extensive research and clinical validation to establish a strong reputation, which could be considered its competitive advantage.

Genomic Health, Inc.

Genomic Health specialized in genomic diagnostics for cancer treatment, similar to Myriad's focus on hereditary cancer testing. Following its acquisition by Exact Sciences, it has further strengthened its position in the oncology testing space. While traditionally focusing on providing tests specifically for breast and prostate cancers, the combination of resources with Exact Sciences allows for enhanced R&D capabilities, thus posing a competitive challenge to Myriad's offerings in cancer genomics, particularly through innovative testing solutions.

Invitae Corporation

Invitae Corporation and Myriad Genetics primarily compete in the genetic testing market, focusing on providing comprehensive genetic information to help guide patient management. Both companies offer testing for hereditary cancer and other genetic conditions; however, Invitae has aggressively targeted a wider market by reducing the costs of their tests, thereby broadening access for physicians and patients. Additionally, Invitae's strategy to acquire various genetic testing companies to enhance its portfolio gives it a competitive edge in terms of the breadth of services offered.