Instruments are expensive — a mass spectrometer can cost $500,000. But reagents are the real moneymaker. The in vitro diagnostics market research study shows that reagents hold 61% market share, and they're growing steadily. Why? Because every test consumes reagents, and tests are ordered constantly. It's the razor‑blade model: give away the razor, sell the blades.

What's driving growth? High‑volume testing. A large hospital lab might run millions of tests per year. The IVD market trends highlight that the fastest‑growing product segment is consumables (including reagents), as labs adopt automated systems that use more reagents per test.

What's new? Dry chemistry reagents — they don't require refrigeration, making them ideal for remote clinics. And closed‑system instruments that only accept proprietary reagents, locking in customers.

The bottom line: if you're a lab manager, negotiate reagent prices hard. If you're an investor, look at reagent companies — they have predictable, recurring revenue.