Market Analysis and Price Projections for Drug NDC: 69230-0304
Understanding the National Drug Code (NDC)
To analyze the market and price projections for a specific drug identified by its NDC, it is crucial to understand what the NDC represents. The National Drug Code (NDC) is a unique, three-segment number that identifies a drug product. It consists of a labeler code, a product code, and a package code[1][5].
Identifying the Drug
The NDC 69230-0304 can be broken down as follows:
- Labeler Code: The first segment identifies the labeler, which is the firm that manufactures, repackages, or relabels the drug.
- Product Code: The second segment identifies the specific strength, dosage form, and formulation of the drug.
- Package Code: The third segment identifies the package size and type.
Market Context
Drug Pricing Trends
The pharmaceutical market is characterized by frequent price changes. From January 2022 to January 2023, over 4,200 drug products experienced price increases, with an average increase of 15.2% or $590 per drug product. This trend indicates that drug prices can fluctuate significantly over time[2].
Affordability and Regulatory Challenges
High prescription drug prices pose significant affordability challenges for patients, healthcare payers, employers, and taxpayers. The Biden-Harris Administration has made reducing prescription drug costs a priority, which could impact future pricing strategies[2].
Specific Drug Analysis
NDC 69230-0304
To provide a detailed analysis, we need to identify the specific drug associated with the NDC 69230-0304. Here are some steps to consider:
-
Check the FDA NDC Directory: The FDA's National Drug Code Directory contains information on all drugs listed with the FDA, including prescription, over-the-counter, and compounded drugs. Searching this directory can provide details on the drug's name, labeler, strength, dosage form, and package size[5].
-
Example: If the NDC 69230-0304 corresponds to a commonly prescribed medication, such as an opioid or a drug for chronic conditions, the market dynamics and pricing trends for that specific class of drugs would be relevant.
Market Dynamics for Similar Drugs
Opioids Market
If the drug associated with NDC 69230-0304 is an opioid, the market dynamics would be influenced by factors such as the rising prevalence of cancer, high demand for pain therapeutics, and regulatory approvals for innovative and abuse-deterrent formulations. The global opioids market was valued at $27.28 billion in 2022 and is expected to grow at a CAGR of 4.54% until 2029[4].
Price Increases and Affordability
For opioids and other prescription drugs, price increases can be significant. For instance, from January 2022 to January 2023, multi-source drugs saw an average price increase of 26.0%, while single-source drugs saw an average increase of 7.4%[2].
Price Projections
Historical Price Changes
To project future prices, it is essential to analyze historical price changes for the specific drug or similar drugs. The average price increase for prescription drugs has been around 15.2% in recent years, but this can vary widely depending on the drug and market conditions[2].
Regulatory and Market Factors
Regulatory changes, such as those aimed at reducing prescription drug costs, and market factors like competition and demand, will influence future price projections. For example, the Inflation Reduction Act (IRA) includes provisions that could impact drug pricing, although the exact effects are still being studied[2].
Key Takeaways
- NDC Identification: The NDC 69230-0304 identifies a specific drug product, including its labeler, product, and package details.
- Market Trends: Prescription drug prices are subject to frequent changes, with significant increases observed in recent years.
- Regulatory Impact: Regulatory efforts to reduce drug costs and improve affordability will continue to shape the market.
- Specific Drug Analysis: Detailed analysis requires identifying the specific drug associated with the NDC and understanding its market context.
FAQs
-
What does the National Drug Code (NDC) represent?
- The NDC is a unique, three-segment number that identifies a drug product, including the labeler, product, and package details[1][5].
-
Why do prescription drug prices change frequently?
- Prescription drug prices can change due to various factors, including market demand, competition, and regulatory changes[2].
-
How are drug prices affected by regulatory changes?
- Regulatory changes, such as those aimed at reducing prescription drug costs, can significantly impact drug pricing. For example, the IRA includes provisions that could reduce drug prices[2].
-
What is the significance of the FDA's NDC Directory?
- The FDA's NDC Directory contains information on all drugs listed with the FDA, including prescription, over-the-counter, and compounded drugs. It helps in identifying and tracking drug products[5].
-
How can historical price changes help in projecting future prices?
- Analyzing historical price changes for a specific drug or similar drugs can provide insights into potential future price trends and help in making more accurate projections[2].
Sources
- FDA - National Drug Code Database Background Information
- ASPE - Changes in the List Prices of Prescription Drugs, 2017-2023
- Intelligencia.ai - 2025 Pharma Predictions: AI, Health Tech, and Data Trends to Watch
- Maximize Market Research - Opioids Drugs Market- Global Industry Analysis and Forecast (2023-2029)
- FDA - National Drug Code Directory
