Since the new iLABMED was founded in June 2023, it has published three issues with 21 articles (till Dec 2023). As a journal majored in laboratory medicine, iLABMED also has to face many opportunities and challenges of laboratory medicine. This editorial summarized the main opportunities and challenges faced by iLABMED. The future prospects of laboratory medicine, which must be highlighted by iLABMED were also discussed based on a brief review of the current advances in laboratory medicine. iLABMED will continue to provide a useful platform for general‐interested, insightful, and informative articles with high quality.