Market Analysis and Price Projections for NDC 31722-952: Methylphenidate Hydrochloride
Introduction
Methylphenidate Hydrochloride, with the NDC code 31722-952, is an extended-release oral tablet manufactured by Camber Pharmaceuticals, Inc. This drug is classified as a Central Nervous System Stimulant and is primarily used to treat attention deficit hyperactivity disorder (ADHD) and certain cases of narcolepsy. Here, we will delve into the market analysis and price projections for this medication.
Market Context
The pharmaceutical market, particularly for prescription drugs, is experiencing significant growth and changes. By 2030, global prescription drug sales are forecasted to reach $1.7 trillion, driven by a 7.7% growth rate[4].
Manufacturer Overview
Camber Pharmaceuticals, Inc. is a prominent generic drug manufacturer with a diverse portfolio of medications. The company has several drugs listed under various NDC codes, including the one in question, Methylphenidate Hydrochloride[5].
Drug Classification and Usage
Methylphenidate Hydrochloride is a DEA Schedule CII drug, indicating it has a high potential for abuse but also accepted medical use. It is an extended-release tablet with an active ingredient strength of 18 mg/1[1].
Price Trends in Prescription Drugs
Prescription drug prices have been a subject of concern due to their increasing trend. Most price increases occur in January and July each year, with January 2022 seeing an average price increase of nearly $150 per drug (10.0%) and July 2022 seeing an average increase of $250 (7.8%)[2].
Specific Price Analysis for Methylphenidate Hydrochloride
While the specific price history of NDC 31722-952 is not detailed in the available sources, we can infer from broader trends. Given that this drug is a generic version of a well-established medication, its price is likely influenced by the overall market dynamics.
- Generic Drug Pricing: Generic drugs generally have lower prices compared to their brand-name counterparts. However, they can still experience price increases, especially if there are changes in raw material costs, manufacturing processes, or regulatory requirements.
- Market Competition: The presence of multiple generic manufacturers can lead to competitive pricing. However, if there is a shortage or consolidation among manufacturers, prices could rise.
- Regulatory Environment: Changes in regulatory frameworks can impact production costs and, subsequently, the pricing of drugs[3].
Predicted Price Projections
Given the current trends and the broader pharmaceutical market context:
- Short-Term Projections: For the next few years, it is likely that the price of Methylphenidate Hydrochloride will follow the general trend of prescription drug price increases. This could mean annual increases in the range of 5-10%, depending on the specific market conditions and the company's pricing strategy.
- Long-Term Projections: By 2030, the global pharmaceutical market is expected to grow significantly. However, the growth in the ADHD treatment segment might be more stable compared to emerging areas like obesity treatments. Therefore, while the price might increase, it is unlikely to skyrocket unless there are significant changes in the market or regulatory environment.
Impact of Inflation and Economic Factors
The Consumer Price Index (CPI) and general inflation rates also play a role in drug pricing. For instance, between July 2021 and July 2022, the CPI increased by 8.5%, which was slightly higher than the average July 2022 price increase for prescription drugs (7.8%)[2].
Conclusion
The price of Methylphenidate Hydrochloride (NDC 31722-952) is likely to follow the broader trends in the prescription drug market, with potential annual increases in the range of 5-10%. However, these projections are subject to various market and regulatory factors.
Key Takeaways
- Market Growth: The global pharmaceutical market is expected to reach $1.7 trillion by 2030.
- Price Increases: Prescription drug prices, including generics, tend to increase in January and July each year.
- Regulatory Impact: Changes in regulatory frameworks can influence drug pricing.
- Competition and Supply: Market competition and supply chain dynamics can affect the pricing of generic drugs.
- Inflation: General inflation rates can also impact the pricing of prescription drugs.
FAQs
Q: What is the current market size of the biopharma and biotech industries?
A: As of 2024, the biopharma market size is estimated to be over $400 billion, with a projected CAGR of 7.56% between 2024 and 2029. The biotech market size was nearly $500 billion in 2020, with an estimated CAGR of 9.4% between 2021 and 2027[3].
Q: How often do prescription drug prices increase?
A: Most prescription drug price increases occur in January and July each year, with the largest number of increases happening in January[2].
Q: What is the DEA classification of Methylphenidate Hydrochloride?
A: Methylphenidate Hydrochloride is classified as a DEA Schedule CII drug, indicating it has a high potential for abuse but also accepted medical use[1].
Q: What are the predicted global prescription drug sales by 2030?
A: Global prescription drug sales are forecasted to reach $1.7 trillion by 2030, driven by a 7.7% growth rate[4].
Q: How do regulatory changes impact drug pricing?
A: Regulatory changes can influence production costs, approval processes, and market competition, all of which can impact the pricing of drugs[3].
Sources
- FDA Report: NDC 31722-952 Oral Tablet, Extended Release Methylphenidate Hydrochloride.
- ASPE Issue Brief: Price Increases for Prescription Drugs, 2016-2022.
- TFS CRO: 5 Predictions for the Biopharma and Biotech Industries in 2025.
- Evaluate: Evaluate Releases 2030 Forecasts for Global Pharmaceutical Market.
- FindACode: Camber Pharmaceuticals - List of Drugs - NDC Labeler/Manufacturer.
