The market for clinical lab services is $396 billion, per a report from our partner Howe Sound Global Clinical Medical Laboratory Services Market – Eye On IVD As the healthcare landscape continues to evolve, the In Vitro Diagnostic industry is poised for significant growth, driven by advancements in biotechnology, including Artificial Intelligence. Knowledge of both wholesale and retail markets is a basic step in understanding market dynamics.
Breaking Out Retail and Wholesale Sectors
Greg Powell, President of Howe Sound Research, states “2025 will be another record year for IVD, both wholesale and retail. We are looking at the wholesale market reaching $ Billion while the larger retail segment reaches $ Billion. [final numbers are in the rerport’] Growth in both markets is being driven by a growing test menu involving more sophisticated, and expensive, tests.” Mr. Powell adds that “In addition commodity testing is enjoying a wider audience as consumers have become more active in managing their own wellness.”
The report provides market size and growth for a variety of test categories and for global countries.
The report measures the clinical lab market vs. the in vitro diagnostics market, but IVD marketers will find it of use in business planning. Know thy customer, know thyself.
