The PCR testing business
Are you aware of the extent of the PCR testing business?
The pandemic took a heavy toll on society: in addition to the disease, COVID-19 has hit businesses very hard. Between the loss of jobs and the disappearance of companies, the year 2020 has been difficult for the professional sphere. But on the other hand, a part of the economy has been able to take advantage of the pandemic to prosper. This includes the pharmaceutical industry and major laboratories, which have seen a significant increase in revenue due to the development and distribution of PCR tests, antigenic tests and, most recently, COVID-19 vaccines.
As a travel professional, Stew Travel has chosen to take a look at the business generated by the distribution of PCR tests, both in Canada and around the world.
The cost of PCR tests around the world
The price of a PCR test greatly varies according to the geographical location. Each country sets its own prices, which may vary depending on health care facilities, whether public or private. Some countries cover part or all of the cost of PCR tests; in other countries, the PCR tests are entirely paid for by individuals.
For example, it is estimated that PCR tests cost an average of $C 80 in France, $C 195 in Mexico, $C 70 to $C 370 in the United Kingdom and $C 520 in Japan. These vast disparities seem to reveal a major problem: how much does a PCR test really cost? And why are the amounts so different from one country to another?
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The true cost of producing a PCR test
To better understand the prices charged by different countries around the world, it is important to estimate the cost of producing a PCR test. What is the true price of a PCR test today?
To date, laboratories and manufacturers remain secretive about their pricing policies and the actual cost of the tests. However, to get an estimate of the cost, we can use the prime rate charged by the Canadian government in Ontario: according to our data, the cost of PCR tests performed by the government is $C 47.50. This is the amount paid by the government to the laboratories, which gives an approximate cost for PCR testing in Canada.