Introduction
When analyzing the market and price projections for a specific drug, it is crucial to understand the drug's identity, its place in the market, and the factors influencing its pricing. Here, we will focus on the drug with the National Drug Code (NDC) 00378-2245, which corresponds to Imatinib Mesylate 100 MG tablets.
Drug Identification
Imatinib Mesylate, identified by the NDC 00378-2245, is a prescription drug used primarily in the treatment of certain types of cancer, such as chronic myeloid leukemia (CML) and gastrointestinal stromal tumors (GIST)[2].
Market Context
The biopharmaceutical market, which includes drugs like Imatinib Mesylate, is experiencing significant growth. As of 2024, the biopharma market size was estimated to be over $400 billion, with a projected compound annual growth rate (CAGR) of 7.56% between 2024 and 2029[3].
Pricing Trends
To understand the pricing trends for Imatinib Mesylate, we need to look at recent price data. Here are some key points:
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Recent Price Data: As of December 2024, the price per unit for Imatinib Mesylate 100 MG tablets (NDC 00378-2245) was approximately $0.66780. This price has fluctuated over the past few months, with previous prices recorded at $0.64236 in November 2024 and $0.54917 in October 2024[2].
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Price Increases: The median price increase for brand name drugs was 13.4% in 2022, which can serve as a benchmark for future price adjustments. This trend suggests that prices for prescription drugs, including Imatinib Mesylate, may continue to rise[2].
Factors Influencing Pricing
Several factors influence the pricing of prescription drugs like Imatinib Mesylate:
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Regulatory Environment: Changes in regulatory frameworks can impact drug pricing. For instance, evolving regulations may affect the cost of production, research, and development, which in turn can influence the final price of the drug[3].
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Market Demand: The demand for cancer treatments is high and growing, driven by an increasing incidence of cancer and advancements in treatment options. High demand can lead to higher prices, especially if there are limited alternatives or generic options available[3].
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Competition: The presence of generic or biosimilar versions of Imatinib Mesylate can reduce prices. However, as of the latest data, the market for this specific drug is still dominated by brand-name versions, which tend to be more expensive[2].
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Production and Distribution Costs: Costs associated with manufacturing, distribution, and marketing can also impact the final price of the drug. These costs can fluctuate based on various economic and logistical factors[5].
Price Projections
Given the current trends and factors influencing drug pricing, here are some projections:
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Short-Term Projections: Based on recent price increases and the overall trend in the biopharmaceutical market, it is likely that the price of Imatinib Mesylate will continue to rise in the short term. A potential increase of 5-10% in the next year is plausible, considering the median price increase for brand name drugs in recent years[2].
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Long-Term Projections: Over the next few years, the price could stabilize or decrease slightly if generic or biosimilar versions of Imatinib Mesylate enter the market. However, without significant competition, prices are likely to remain high, driven by the strong demand for effective cancer treatments[3].
Conclusion
The market analysis and price projections for Imatinib Mesylate (NDC 00378-2245) indicate a drug that is part of a growing and lucrative biopharmaceutical market. Prices are likely to continue rising in the short term due to high demand and limited competition, but long-term projections depend on the entry of generic or biosimilar alternatives.
Key Takeaways
- Drug Identification: Imatinib Mesylate 100 MG tablets are identified by NDC 00378-2245.
- Market Context: The biopharmaceutical market is growing, with a projected CAGR of 7.56% between 2024 and 2029.
- Pricing Trends: Recent prices show fluctuations, with a median price increase of 13.4% for brand name drugs in 2022.
- Factors Influencing Pricing: Regulatory environment, market demand, competition, and production costs all impact pricing.
- Price Projections: Short-term increases of 5-10% are likely, while long-term stability or decreases depend on market competition.
FAQs
Q: What is the current price of Imatinib Mesylate 100 MG tablets (NDC 00378-2245)?
A: As of December 2024, the price per unit is approximately $0.66780[2].
Q: What factors influence the pricing of Imatinib Mesylate?
A: Regulatory environment, market demand, competition, and production and distribution costs all influence the pricing[3][5].
Q: Are there any generic or biosimilar versions of Imatinib Mesylate available?
A: As of the latest data, there are no widely available generic or biosimilar versions of Imatinib Mesylate that significantly impact the market price[2].
Q: How is the biopharmaceutical market expected to grow in the coming years?
A: The biopharmaceutical market is expected to grow at a CAGR of 7.56% between 2024 and 2029[3].
Q: What is the significance of the National Drug Code (NDC) in drug identification?
A: The NDC is a unique, three-segment number that identifies the labeler, product, and trade package size of a drug, serving as a universal product identifier[5].
