Overview of Nateglidine
Nateglidine, with the NDC code 16571-0759, is a medication manufactured by Rising Pharma Holdings, Inc. It is used in the management of type 2 diabetes mellitus, helping to improve glycemic control by stimulating insulin secretion from the pancreas.
Market Context
Global Pharmaceutical Market Trends
The global pharmaceutical market, including the segment for diabetes medications, is expected to see significant growth. According to market projections, the overall prescription drug market is anticipated to grow at a CAGR of 9% through 2030[2].
U.S. Market Specifics
In the U.S., the prescription drug market has shown distinct trends compared to other regions. The average price per unit in the U.S. is significantly higher than in other OECD countries and the rest of the world. For instance, in 2022, U.S. prices were 5.5 times those in the OECD (excluding the U.S.) and 7.7 times those in the rest of the world[3].
Price Trends and Projections
Historical Pricing
While specific historical price data for Nateglidine (NDC 16571-0759) is not readily available, general trends in the pharmaceutical market can provide insights. Prices for prescription drugs in the U.S. have been increasing, with an average price increase of 14% between 2017 and 2022[3].
Future Price Projections
Given the broader market trends, it is reasonable to expect that the price of Nateglidine will also increase. The projected drug price inflation rate of 3.81% can serve as a benchmark for future price increases[5].
Comparative Pricing
To put this into perspective, other drugs manufactured by Rising Pharma Holdings, Inc. have shown varied pricing trends. For example, drugs like Lisinopril and Losartan Potassium, also manufactured by the same company, have had price adjustments based on market conditions and regulatory approvals[1].
Market Growth and Demand
Diabetes Management Market
The market for diabetes management is growing rapidly due to an increasing prevalence of diabetes worldwide. This growth is driven by factors such as an aging population, lifestyle changes, and improved diagnostic techniques. As a result, medications like Nateglidine are likely to see increased demand.
Competitive Landscape
The competitive landscape for diabetes medications is robust, with several players offering various treatment options. Nateglidine competes with other oral hypoglycemic agents, and its market share is influenced by factors such as efficacy, side effect profile, and pricing.
Regulatory and Approval Status
Nateglidine, as an unapproved drug (under the category of "unapproved drug other" by the FDA), operates under different regulatory scrutiny compared to approved drugs. This status can impact its pricing and market dynamics, as it may not be subject to the same level of price controls as approved medications[4].
Key Takeaways
- Market Growth: The global pharmaceutical market, including diabetes medications, is expected to grow significantly.
- Price Trends: U.S. prices for prescription drugs, including Nateglidine, are likely to increase due to inflation and market trends.
- Regulatory Status: As an unapproved drug, Nateglidine's pricing and market dynamics may differ from those of approved medications.
- Competitive Landscape: The diabetes management market is competitive, with Nateglidine competing against other oral hypoglycemic agents.
FAQs
What is Nateglidine used for?
Nateglidine is used in the management of type 2 diabetes mellitus to improve glycemic control by stimulating insulin secretion from the pancreas.
Who manufactures Nateglidine?
Nateglidine is manufactured by Rising Pharma Holdings, Inc.
What is the expected growth rate of the pharmaceutical market?
The overall prescription drug market is expected to grow at a CAGR of 9% through 2030.
Why are U.S. drug prices higher than in other countries?
U.S. drug prices are higher due to a combination of factors, including higher prices for the same drugs and a drug mix that skews towards more expensive compounds[3].
What is the projected drug price inflation rate?
The projected drug price inflation rate is 3.81%[5].
Is Nateglidine an approved drug?
Nateglidine is classified as an "unapproved drug other" by the FDA[4].
Sources
- Find-A-Code: Rising Pharma Holdings, Inc. - List of Drugs.
- DrugPatentWatch: Latest drug prices and trends for NDC 00054-0319.
- ASPE: International Market Size and Prices.
- DailyMed: PHENOBARBITAL tablet - Label.
- DrugPatentWatch: Latest drug prices and trends for NDC 59630-0551.
