While the bio-tools sector has experienced a notable post pandemic revenue decline, there is fresh evidence of the impact of reduced spending related to COVID in Asia.  This week two Chinese genomic tool suppliers, BGI Genomics, and MGI Tech, reported a 10% and 16% revenue decline, respectively, in the first half of 2004. BGI Genomics specifically cited COVID spending declines.

BGI Genomics provides genomic sequencing and proteomic services to researchers, medical institutions, pharmaceutical companies, and other partners. The company was founded in 1999 as the Beijing Genomics Institute to participate in the Human Genome Project as China’s representative.

MGI Tech Co., Ltd. engages in the research and development, production, and sale of DNA sequencing instruments, reagents, and related products to support life science research, agriculture, precision medicine and healthcare. It produces clinical high-throughput gene sequencers, and its multi-omics platforms include genetic sequencing, medical imaging, and laboratory automation. (sources: MarketWatch, GenomeWeb, BGI, & MGI)