According to GlobalData, CPASS is one of 108 product lines sold in the US covid-19 tests market; these product lines are sold by 60 different manufacturers. The price of the CPASS device can be viewed in GlobalData’s micro pricing report and can be retrieved according to purchase date, facility type, bed size, and geographical region. Buy the report here.
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The selling price or list price of a medical device is driven by numerous factors, such as therapy area and complexity of procedure, level of reimbursement, development costs, the number of competing manufacturers, product life cycle, and whether there have been any recent new technology or product launches.
In addition, the final selling pricing of medical devices is also impacted by the discounting policy of the manufacturer. Companies such as Genscript Biotech apply discounts for their devices based on their internal business strategy, inventory control, and monthly or quarterly sales targets. In addition, sale location can also affect the final selling price of a device, both in terms of geographical region and facility type. Prices for the same medical device often vary in hospitals and health systems versus outside of hospital facilities, for example if high volume healthcare institutions can negotiate discounts or rebates based on large purchase sizes.
Genscript Biotech overview
Genscript Biotech Corp (Genscript) is a biotechnology company that provides life science research and applications solutions. The company’s product portfolio comprises antibodies, recombinant proteins, stable cell lines, molecular biology reagents, peptides and biochemicals, CRISPR Cas reagents and others. It provides peptide synthesis, genome editing, cell engineering, mutation and library solutions, preclinical drug development, biologics and manufacturing solutions. GenScript products find application in life science research, vaccine development, immunotherapy, COVID-19 and drug discovery and development. The company utilizes its proprietary gene synthesis technology in various fields from life science research through to translational biomedical development and industrial synthetic and cell therapeutic solutions. It operates in China, Singapore, Japan, the Netherlands, the UK and the US. Genscript is headquartered in Nanjing, Jiangsu, China.
For a complete picture of CPASS, COVID-19 Tests pricing in the US, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Medical Intelligence Center Market Models are the gold standard of medical device market valuation, company share estimation and market trend forecasting. GlobalData uses a patient-based forecast model or installed base methodology to determine the market size for therapeutic indications and capital equipment expenditures. Estimates are based on a number of sources, including primary research—KOL and industry contact interviews—and secondary research, such as company reports, press releases, published articles, proprietary databases, and general news media.
