Introduction to NDC 69452-233
The National Drug Code (NDC) 69452-233 corresponds to a human prescription drug, specifically an oral capsule of Progesterone, labeled and distributed by Bionpharma Inc.[4].
Market Context
Global Pharmaceutical Market Outlook
The global pharmaceutical market is projected to grow significantly, with total prescription drug sales expected to reach $1.7 trillion by 2030, driven by a 7.7% growth rate. This growth is largely attributed to a shift towards treating major diseases such as obesity, oncology, and inflammatory diseases[3].
Drug Specifics
Progesterone (NDC 69452-233)
- Product Type: Human Prescription Drug
- Dosage Form: Oral Capsule
- Active Ingredient Strength: 100 mg/1
- Marketing Start Date: November 28, 2018
- Labeler Name: Bionpharma Inc.
- Substance Name: Progesterone
Price Trends in Prescription Drugs
General Price Increases
Prescription drug prices have been increasing steadily over the years. From January 2022 to January 2023, more than 4,200 drug products had price increases, with 46% of these increases exceeding the rate of inflation. The average price increase during this period was 15.2%, translating to a $590 increase per drug product[2].
Generic vs. Brand Name Drugs
Price increases for generic drugs tend to be higher in percentage terms compared to brand name drugs, although the absolute dollar increases are typically larger for brand name drugs. For instance, the median price increase for generic drugs in 2022 was 19.9%, while for brand name drugs it was 13.4%[5].
Potential Price Projections for Progesterone (NDC 69452-233)
Historical Context
Given that Progesterone is a generic drug, it is likely to follow the general trend of price increases observed in the generic drug market. However, specific price projections would depend on various factors such as market demand, production costs, and regulatory changes.
Market Dynamics
- Demand: Progesterone is used for various medical conditions, including hormone replacement therapy and menstrual disorders. Stable demand could lead to moderate price increases.
- Production Costs: Any increase in the cost of raw materials or manufacturing could be passed on to consumers, leading to higher prices.
- Regulatory Environment: Changes in regulatory requirements or transparency programs, such as Oregon's Drug Price Transparency Program, could influence pricing strategies[5].
Projected Price Increases
Short-Term Projections
Based on recent trends, it is plausible that the price of Progesterone (NDC 69452-233) could increase by around 10-15% in the short term, aligning with the average price increases observed in the generic drug market.
Long-Term Projections
Over the next few years, if the overall pharmaceutical market continues to grow as projected, and considering the stability of demand for Progesterone, the price could potentially increase by 5-10% annually. However, this is speculative and would depend on various market and economic factors.
Key Factors Influencing Price
Inflation and Economic Conditions
Inflation rates and broader economic conditions can significantly impact drug prices. As seen in recent years, price increases often exceed the rate of inflation, adding to the financial burden on patients and healthcare systems[2].
Regulatory Changes
Regulatory changes, such as those related to drug pricing transparency, can influence how manufacturers set and increase prices. For example, programs like Oregon's Drug Price Transparency Program aim to provide accountability and transparency in prescription drug pricing[5].
Market Competition
The level of competition in the market for Progesterone could also affect pricing. If multiple manufacturers are producing the drug, competition might keep price increases in check. However, if there is limited competition, manufacturers may have more leeway to increase prices.
Conclusion
The price of Progesterone (NDC 69452-233) is likely to follow the broader trends in the pharmaceutical market, with potential short-term increases in the range of 10-15% and long-term annual increases of 5-10%. However, these projections are subject to various market, economic, and regulatory factors.
Key Takeaways
- Market Growth: The global pharmaceutical market is expected to reach $1.7 trillion by 2030.
- Price Trends: Generic drugs, including Progesterone, have seen significant price increases, often exceeding inflation rates.
- Regulatory Impact: Transparency programs and regulatory changes can influence pricing strategies.
- Market Dynamics: Demand, production costs, and competition play crucial roles in determining price increases.
FAQs
-
What is the current market outlook for the global pharmaceutical industry?
The global pharmaceutical market is projected to grow to $1.7 trillion by 2030, driven by a shift towards treating major diseases such as obesity and oncology[3].
-
How have prescription drug prices been changing?
Prescription drug prices have been increasing, with more than 4,200 drug products seeing price increases from January 2022 to January 2023, and 46% of these increases exceeding the rate of inflation[2].
-
What factors influence the price of generic drugs like Progesterone?
Factors include demand, production costs, regulatory changes, and market competition[2][5].
-
Can regulatory changes affect drug prices?
Yes, regulatory changes such as drug pricing transparency programs can influence how manufacturers set and increase prices[5].
-
How does competition impact drug pricing?
Competition among manufacturers can keep price increases in check, while limited competition can allow for higher price increases[2].
Sources
- FDA's National Drug Code Directory - FDA
- Changes in the List Prices of Prescription Drugs, 2017-2023 - ASPE
- Evaluate Releases 2030 Forecasts for Global Pharmaceutical Market - Evaluate
- NDC 69452-233 Oral Capsule PROGESTERONE Drug - FDA.report
- Prescription Drug Price Transparency Results and Recommendations - Oregon's Drug Price Transparency Program
