With the advancement of genetic technology, genetic testing is widely used in various aspects of healthcare. The total market value of genetic testing in 2020 has exceeded US$10 billion, and with a compound annual growth rate (CAGR) of close to 10%, Illumine, Thermo Fisher, and Roche are the world's top three next-generation sequencing international manufacturers, with a total market share of more than 90%. Illumine, Thermo Fisher and Roche are the top three next-generation sequencing companies in the world, with a total market share of more than 90%. Through their M&A strategy and investment layout, we can understand the development of the related industry and the shift of focus.