According to GlobalData, PROFILE-V is one of 82 product lines sold in the US toxicology tests market; these product lines are sold by 31 different manufacturers. The average selling price for PROFILE-V decreased in hospitals, increased in health systems, and decreased outside of hospital facilities in 2022. The price of the PROFILE-V 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.
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 Laboratory Corp of America Holdings 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.
Laboratory Corp of America Holdings overview
Laboratory Corp of America Holdings (LabCorp) is a provider of clinical laboratory services and end-to-end drug development support. It focuses on the development and commercialization of a range of diagnostic technologies and testing services. The company offers clinical diagnostics laboratory services such as core testing, genomic and esoteric testing. Its services include general and specialty laboratory testing, bone marrow and human leukocyte antigen (HLA) testing, clinical trials services, drug testing services, deoxyribonucleic acid (DNA) identification services, forensic identity services, insurance health plan services, paternity testing services, patient services, personalized medicine, and hospital services. It also offers drug development services through Covance. It offers services to managed care organizations, physicians, hospitals, government agencies, and biotechnology and pharmaceutical companies through a network of primary laboratories and patient service centers. The company has operations across the US, Belgium, China, Singapore, the UK, and other countries. LabCorp is headquartered in Burlington, North Carolina, the US.
For a complete picture of PROFILE-V, Toxicology Tests pricing in the US, buy the report here.