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Drug Price Trends for NDC 00093-8034
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Average Pharmacy Cost for 00093-8034
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| GLYBURIDE MICRO 1.5 MG TAB | 00093-8034-01 | 0.15996 | EACH | 2024-12-18 |
| GLYBURIDE MICRO 1.5 MG TAB | 00093-8034-01 | 0.15996 | EACH | 2024-11-20 |
| GLYBURIDE MICRO 1.5 MG TAB | 00093-8034-01 | 0.16100 | EACH | 2024-09-18 |
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Best Wholesale Price for NDC 00093-8034
| Drug Name | Vendor | NDC | Count | Price ($) | Price/Unit ($) | Dates | Price Type |
|---|---|---|---|---|---|---|---|
| >Drug Name | >Vendor | >NDC | >Count | >Price ($) | >Price/Unit ($) | >Dates | >Price Type |
00093-8034 Market Analysis and Financial Projection
Market Analysis and Price Projections for the Drug NDC: 00093-8034
Understanding the National Drug Code (NDC)
To analyze the market and price projections for a drug identified by the NDC 00093-8034, it is crucial to first understand what the NDC represents. The National Drug Code (NDC) is a unique, three-segment number that serves as the FDA’s identifier for drugs. This code includes the labeler code, product code, and package code, providing detailed information about the drug product, its manufacturer, and packaging[1][5].
Market Analysis
Drug Identification and Classification
The NDC 00093-8034 identifies a specific drug product, including its labeler, product characteristics, and packaging details. This code is essential for tracking and regulating the drug within the pharmaceutical market.
Market Segment
The drug corresponding to NDC 00093-8034 could fall into various market segments such as prescription drugs, over-the-counter (OTC) drugs, or even specialized therapeutic areas like diabetes treatment, depending on its classification and use[1][5].
Current Pricing Trends
Generic Drug Market Dynamics
In the generic drug market, prices are generally expected to erode annually due to market competition and regulatory pressures. This trend is consistent with the current outlook for the pharmaceutical industry, where revenue growth is modest but stable. For generic drugs, prices are expected to decrease by around 3-5% annually[2].
Example Pricing Scenario
If the drug corresponding to NDC 00093-8034 is currently priced at $100 per unit, here is a possible price projection over the next few years:
| Year | Price per Unit |
|---|---|
| 2024 | $100 |
| 2025 | $95 |
| 2026 | $90.25 |
| 2027 | $85.74 |
| 2028 | $81.36 |
This scenario assumes an annual price erosion of about 5%, which is within the expected range for generic drugs[2].
Future Pricing Projections
Annual Price Erosion
Given the competitive nature of the generic drug market, prices for the drug identified by NDC 00093-8034 are likely to decrease annually. This erosion is driven by market competition, regulatory pressures, and the need for companies to balance their pricing to cover costs while maintaining market share[2].
Revenue Growth
Despite the annual price erosion, the overall revenue for the drug may still grow modestly due to increased volume and market penetration. This growth can be attributed to factors such as expanded distribution channels, increased patient demand, and strategic marketing efforts[2].
Cost Recovery
Companies will need to balance their pricing to cover costs, including distribution, marketing (if applicable), and earning a reasonable return on investment. This balance is crucial for maintaining profitability in a competitive market[2].
Market Drivers and Challenges
Regulatory Environment
The pharmaceutical industry is heavily regulated, and changes in regulatory policies can significantly impact drug pricing and market dynamics. Compliance with FDA regulations, such as those related to the National Drug Code Directory, is essential for maintaining market presence[1][5].
Competitive Landscape
The generic drug market is highly competitive, with numerous players vying for market share. This competition drives price erosion and necessitates innovative strategies for differentiation and cost management[2].
Technological Advancements
The use of artificial intelligence (AI) and other health technologies is becoming more prevalent in the pharmaceutical industry. These advancements can help in optimizing production, improving drug efficacy, and enhancing patient outcomes, which can indirectly influence market dynamics and pricing strategies[3].
Regional Market Analysis
Global Market Trends
The global pharmaceutical market is diverse, with different regions exhibiting unique trends. For instance, the Asia-Pacific region is anticipated to be one of the fastest-growing segments due to rising healthcare expenditure and developing healthcare infrastructure[4].
Regional Demand
The demand for drugs can vary significantly across different regions due to factors such as disease prevalence, healthcare infrastructure, and regulatory environments. For example, the incretin-based drugs market is driven by the rising prevalence of type 2 diabetes globally, particularly in regions like North America and Europe[4].
Competitive Analysis
Key Players
The pharmaceutical market is dominated by several key players, including major pharmaceutical companies like Eli Lilly and Company, Merck & Co., Inc., and Novo Nordisk A/S. These companies often engage in extensive marketing and educational campaigns to increase awareness and adoption of their drugs[4].
Market Segmentation
The market can be segmented based on drug class, route of administration, and distribution channels. Understanding these segments is crucial for developing targeted marketing strategies and predicting market trends[4].
Financial Projections
Revenue Growth
Despite the challenges posed by price erosion, the overall revenue for the drug corresponding to NDC 00093-8034 can still grow due to increased volume and market penetration. This growth is expected to be modest but stable, reflecting the broader trends in the generic drug market[2].
Cost Management
Effective cost management is critical for maintaining profitability in a competitive market. Companies need to balance their pricing strategies with the need to cover costs, including distribution, marketing, and research and development[2].
Key Takeaways
- Price Erosion: Expect annual price decreases of 3-5% due to market competition and regulatory pressures.
- Revenue Growth: Modest revenue growth is possible through increased volume and market penetration.
- Regulatory Compliance: Adherence to FDA regulations, including those related to the NDC Directory, is essential.
- Technological Advancements: AI and health technologies can optimize production and improve drug efficacy.
- Regional Trends: Different regions have unique market trends driven by factors like disease prevalence and healthcare infrastructure.
FAQs
Q: What is the National Drug Code (NDC) and its significance? A: The NDC is a unique, three-segment number that serves as the FDA’s identifier for drugs, providing detailed information about the drug product, its manufacturer, and packaging[1][5].
Q: How does the generic drug market impact pricing for NDC 00093-8034? A: The generic drug market is highly competitive, leading to annual price erosion of 3-5% due to market competition and regulatory pressures[2].
Q: What are the key drivers of revenue growth for generic drugs? A: Revenue growth for generic drugs can be driven by increased volume and market penetration, despite price erosion[2].
Q: How do regulatory changes affect the pricing and market dynamics of drugs? A: Regulatory changes can significantly impact drug pricing and market dynamics, emphasizing the importance of compliance with FDA regulations[1][5].
Q: What role does technology play in the pharmaceutical industry and its impact on pricing? A: Technological advancements, such as AI, can optimize production, improve drug efficacy, and enhance patient outcomes, indirectly influencing market dynamics and pricing strategies[3].
Sources
- FDA's National Drug Code Directory - FDA
- Latest drug prices and trends for NDC 00093-7664 - DrugPatentWatch
- 2025 Pharma Predictions: AI, Health Tech, and Data Trends to Watch - Intelligencia.ai
- Incretin-Based Drugs Market Statistics, Forecast - 2032 - Allied Market Research
- National Drug Code Database Background Information - FDA
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