According to GlobalData, RIGHTSIGN is one of 108 product lines sold in the US covid-19 tests market; these product lines are sold by 60 different manufacturers. The average selling price for RIGHTSIGN decreased in hospitals, remained unchanged in health systems, and remained unchanged outside of hospital facilities in 2022. The price of the RIGHTSIGN 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 Hangzhou Biotest 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.
Hangzhou Biotest Biotech overview
Hangzhou Biotest Biotech Co Ltd is a company mainly engaged in the research and development (R&D), production and sales of point-of-care testing (POCT) diagnostic reagents. The Company’s products include reproductive health testing series, such as human chorionic gonadotropin testing reagent and luteinizing hormone testing reagent, and drug abuse testing series, such as morphine testing reagent and cocaine testing reagent, and infectious disease testing series, such as adenovirus testing reagent and typhoid antibody testing reagent, and tumor marker testing series, such as alpha fetoprotein detection reagent, and myocardial marker detection series, such as dimer detection reagent and myocardial series detection reagent.It is headquartered in Hangzhou, Zhejiang, China.
For a complete picture of RIGHTSIGN, 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.
