Drug Price Trends for PROVIGIL

Average Pharmacy Cost for PROVIGIL

These are average pharmacy acquisition costs (net of discounts) from a US national survey

Drug Name	NDC	Price/Unit ($)	Unit	Date
PROVIGIL 200 MG TABLET	63459-0201-30	80.68941	EACH	2025-01-01
PROVIGIL 100 MG TABLET	63459-0101-30	53.63395	EACH	2025-01-01
PROVIGIL 100 MG TABLET	63459-0101-30	49.02689	EACH	2024-12-18
PROVIGIL 200 MG TABLET	63459-0201-30	73.75767	EACH	2024-12-18
PROVIGIL 100 MG TABLET	63459-0101-30	49.02429	EACH	2024-11-20
PROVIGIL 200 MG TABLET	63459-0201-30	73.75375	EACH	2024-11-20

Market Analysis and Price Projections for Provigil (Modafinil)

Introduction to Provigil (Modafinil)

Provigil, known generically as modafinil, is a wakefulness-promoting agent used to treat sleep disorders such as narcolepsy, obstructive sleep apnea/hypopnea syndrome, and shift work sleep disorder. It has also gained popularity for its off-label use as a cognitive enhancer.

Market Drivers

Increasing Awareness of Sleep Disorders

The rising prevalence of sleep disorders has significantly driven the demand for modafinil. As more people become aware of conditions like narcolepsy and sleep apnea, the need for prescription wakefulness-promoting agents increases, contributing to market growth[1][3].

Shift Towards Smart Drugs and Cognitive Enhancers

There is a growing trend among students, professionals, and individuals seeking to enhance their cognitive function and productivity. Modafinil's off-label use as a cognitive enhancer has made it a popular choice, driving market demand[1][4].

Growing Healthcare Expenditure

Increasing healthcare spending in various regions has enabled better access to medications, including modafinil. This higher healthcare expenditure is a key driver of market growth, particularly in regions like North America and Europe[1][3].

Aging Population

An aging population is more prone to health issues, including sleep disorders. This demographic shift is expected to drive the demand for modafinil as older adults seek treatments for these conditions[1].

Market Size and Forecast

The modafinil market is growing at a moderate pace, with substantial growth rates expected over the forecast period from 2024 to 2031. The market size is estimated to increase significantly, reaching USD 3.2 Billion by 2030 from USD 1.5 Billion in 2023, with a CAGR of 9.2%[3][4].

Regional Performance

North America

North America, particularly the United States, is a dominant sub-segment due to high healthcare expenditure and the presence of key pharmaceutical companies. The region's high awareness of cognitive enhancement drugs and stringent healthcare policies contribute to its leading position in the modafinil market[1][4].

Europe

Europe follows closely, with countries like Germany, France, and the UK showing rising investment in sleep disorder treatments. The region's stringent regulations governing pharmaceutical products also influence the market dynamics[1][4].

Asia-Pacific

The Asia-Pacific region is emerging as a significant sub-segment, characterized by a rapidly growing population and increasing acceptance of nootropic drugs. Local markets in countries such as India and China are anticipated to witness robust growth due to enhancing healthcare infrastructure and an expanding middle-class population prioritizing mental wellness and productivity[1][4].

Key Players and Competition

The modafinil market is characterized by competition among major manufacturers such as Teva, Alembic Pharma, Apotex, and Sun Pharma. These companies maintain their market share through continuous research and development, strategic alliances, and effective distribution strategies[1][3].

Generic and Branded Versions

The market faces competition from both generic and branded versions of modafinil. Generic versions offer cost-effective alternatives, while branded versions focus on maintaining their market share through innovation and marketing efforts[1][3].

Price Projections

Current Pricing

The cost for Provigil (modafinil) can vary significantly depending on the dosage and pharmacy. For example, a supply of 30 tablets of Provigil 100 mg can cost around $1,621, while a generic version of modafinil 100 mg can cost from $80.90 to $231.29 for 30 tablets[2][5].

Future Pricing Trends

Given the growing demand and expanding market, prices may stabilize or slightly increase due to higher production costs and regulatory pressures. However, the availability of generic versions is expected to keep prices competitive. Strategic alliances and mergers among pharmaceutical companies could also impact pricing by enhancing efficiency and reducing costs[1][4].

Research and Development

Continuous research and development are expected to enhance the efficacy and safety of modafinil, leading to the introduction of new products in the market. This could include novel formulations and improved delivery systems, which may influence future pricing and market dynamics[1][4].

Emerging Markets

The rise of healthcare infrastructure in emerging markets, such as India and China, is expected to drive market growth significantly. These regions are anticipated to witness robust growth due to enhancing healthcare infrastructure and an expanding middle-class population prioritizing mental wellness and productivity[1][4].

Regulatory Environment

A conducive regulatory environment with approvals for new formulations or indications can stimulate market growth. However, regulatory hurdles, intellectual property disputes, and counterfeiting remain significant challenges that could impact the market's growth trajectory[1][4].

Key Takeaways

• The modafinil market is driven by increasing awareness of sleep disorders, the trend towards cognitive enhancers, and growing healthcare expenditure.
• Market growth is expected to be significant over the forecast period, driven by regional demand and continuous innovation.
• North America and Europe are dominant regions, with the Asia-Pacific region emerging as a significant sub-segment.
• Competition from generic and branded versions, along with strategic alliances and regulatory approvals, will shape the market.
• Emerging markets and an aging population are key factors driving future growth.

FAQs

What are the primary uses of Provigil (modafinil)?

Provigil (modafinil) is primarily used to treat sleep disorders such as narcolepsy, obstructive sleep apnea/hypopnea syndrome, and shift work sleep disorder. It is also used off-label as a cognitive enhancer.

How is the modafinil market expected to grow?

The modafinil market is expected to grow significantly over the forecast period from 2024 to 2031, reaching USD 3.2 Billion by 2030 with a CAGR of 9.2%.

What regions are dominant in the modafinil market?

North America, particularly the United States, and Europe are the dominant regions in the modafinil market. The Asia-Pacific region is also emerging as a significant sub-segment.

What are the key drivers of the modafinil market?

The key drivers include increasing awareness of sleep disorders, the trend towards cognitive enhancers, and growing healthcare expenditure.

How does the availability of generic versions impact the market?

The availability of generic versions of modafinil offers cost-effective alternatives, which keeps prices competitive and influences market dynamics.

Sources:

1. Drug Patent Watch: Generic MODAFINIL INN equivalents, drug patent expiry and ...
2. Drugs.com: Provigil Prices, Coupons, Copay Cards & Patient Assistance
3. Verified Market Reports: Modafinil Market Size, Share, Growth & Forecast [2030]
4. Verified Market Research: Modafinil Market Size, Share, Growth, Trends, Scope & Forecast
5. Drugs.com: Modafinil Prices, Coupons, Copay Cards & Patient Assistance