According to GlobalData, LumiraDx 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 LumiraDx 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 LumiraDx 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.
LumiraDx overview
LumiraDx Ltd (LumiraDx) is a company that provides point-of-care (PoC) diagnostic tests and solutions. The company is focused on transforming community-based healthcare by giving essential diagnostic information to healthcare practitioners at the time of need, enabling better informed medical decisions to enhance health outcomes while decreasing costs. Its product portfolio includes severe acute respiratory syndrome (SARS) coronavirus 2 (CoV-2) antigen test, SARS-CoV-2 antibody test, INR test, and D-Dimmer test. It offers solutions such as to engage, a patient program; INRstar, an anticoagulation software; and DataWell, a data-sharing solution. The company’s products are built on its proprietary, LumiraDx platform. LumiraDx is also evaluating pipeline products at various stages of development for screening infectious diseases, diabetes, and cardiovascular diseases. The company sells its products through a direct sales force and a network of distributors in the US, Europe, Japan, South Africa, Colombia, and Brazil. LumiraDx is headquartered in London, the UK.
For a complete picture of LumiraDx, 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.
