I realize that there are huge costs for those companies that manufacture medical equipment in the first place, especially in R&D activities. However, what determines a different price between, for example, an MRI machine (that can cost $3 million) and a Mammography machine (around $50k)?
These prices come from a quick Google search and may, therefore, have to be contextualized.
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There are multiple factors.
1. Standards. How precise it has to be built etc. So if you need a 10 inch steel bar as a part of the machine the price grows exponencially with precision. The more complex and precise a machine is the more expensive to make it.
2 safety. MRI machine has heavy, fast moving parts. If an MRI machine malfunctions, it can kill people. If an xray machine malfunctions they can give off lethal dose of radiation. And the price tag for the solutions of those safety problems are on a very large scale.
3 demand. If there are 2 different machines but with the same R&D cost. They simply have to charge more for the product they sell less pieces of.
4 supply. If the producion takes a lot of time and there are a waiting list, customers will pay more just to get one faster if they need one.
5. Capitalism. If you have the “how to” and no one else has you can sell your product for any price you want.
6. Transport and set up costs. Some machines are heavy af. and delicate af. at the same time. And for warranty reasons, hospitals cannot just put them together for themselves.
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