Drug Price Trends for PROMETHAZINE-CODEINE SYRUP

Average Pharmacy Cost for PROMETHAZINE-CODEINE SYRUP

These are average pharmacy acquisition costs (net of discounts) from a US national survey

Drug Name	NDC	Price/Unit ($)	Unit	Date
PROMETHAZINE-CODEINE SYRUP	60432-0606-16	0.04208	ML	2024-07-17
PROMETHAZINE-CODEINE SYRUP	60432-0606-16	0.03777	ML	2024-06-19
PROMETHAZINE-CODEINE SYRUP	60432-0606-16	0.04365	ML	2024-05-22
PROMETHAZINE-CODEINE SYRUP	60432-0606-16	0.03972	ML	2024-04-17
PROMETHAZINE-CODEINE SYRUP	60432-0606-16	0.04173	ML	2024-03-20

Market Analysis and Price Projections for Promethazine-Codeine Syrup

Market Introduction

Promethazine-codeine syrup, a combination of promethazine, codeine, and often phenylephrine, is widely used for the temporary relief of coughs and upper respiratory symptoms associated with allergies or the common cold. This syrup acts as an antitussive, reducing the urge to cough, and also provides sedative and central nervous system depressing effects due to the presence of promethazine and codeine[1][3].

Market Dynamics

The market for promethazine-codeine syrup is driven by several key factors:

Drivers

• Increasing Incidences of Common Cold and Allergies: The global rise in common cold, allergies, and fever cases is a significant driver. As more people seek over-the-counter (OTC) remedies for these conditions, the demand for promethazine-codeine syrup increases[1].
• Rising R&D Investments: Pharmaceutical companies are investing heavily in research and development to create various combination drug remedies for cough and cold symptoms, further fueling market growth[1].
• OTC Availability: The availability of these preparations OTC makes them easily accessible to consumers, contributing to their popularity[1].

Restraints

• Drug Abuse and Misuse: The potential for abuse and misuse, particularly with codeine-containing preparations, is a significant restraint. This has led to increased regulatory scrutiny and public health warnings[1][3].
• Side Effects: Common side effects such as drowsiness, dizziness, blurred vision, and nausea can also deter some consumers[1].

Market Segmentation

The promethazine-codeine syrup market is segmented based on product and application:

By Product

• DXM and Promethazine-Codeine Cough Syrup: This segment includes syrups that combine dextromethorphan (DXM) with promethazine and codeine.
• Promethazine-Codeine Syrup: This segment includes syrups that combine promethazine and codeine, often with phenylephrine for additional decongestant properties[1].

By Application

• Adults: This segment caters to adults seeking relief from cough and upper respiratory symptoms.
• Children: Although less common due to safety concerns, some formulations are designed for pediatric use[1].

Regional Framework

The market is analyzed across several major regions:

• North America: This region is a significant market due to high demand for OTC cough and cold remedies.
• Europe: European markets also show substantial demand, driven by similar factors.
• Asia-Pacific (APAC): The APAC region is expected to grow rapidly due to increasing healthcare awareness and access to pharmaceuticals.
• Middle East and Africa (MEA): This region is also witnessing growth, albeit at a slower pace.
• South & Central America: These regions are expected to contribute to the global market growth with increasing healthcare expenditure[1].

Market Size and Growth Projections

The global promethazine-codeine syrup market is projected to grow at a significant CAGR from 2023 to 2031. Here are some key projections:

• Market Size in 2023: Estimated to be around US$ XX million.
• Market Size by 2031: Expected to reach US$ XX million.
• Global CAGR (2023 - 2031): Projected to be around XX%[1].

Pricing and Cost Considerations

The cost of promethazine-codeine syrup can vary based on the formulation, brand, and location:

• Generic Version: A generic version of Promethazine VC with Codeine can cost around $20 for a 120 milliliter supply, depending on the pharmacy[2].
• Branded Versions: Branded versions, such as those marketed by Akorn, Inc., can have different pricing. For example, sales of Promethazine/Phenylephrine/Codeine Syrup were approximately $16 million for the twelve months ended July 31, 2015[5].

Market Players and Strategies

Key players in the market include:

• Akorn, Inc.: Known for launching various promethazine formulations, including Promethazine/Phenylephrine and Promethazine/Phenylephrine/Codeine Syrups[5].
• Other Pharmaceutical Companies: These companies are focusing on organic growth strategies such as product launches, product approvals, and inorganic strategies like acquisitions and partnerships to expand their market presence[1].

Regulatory Environment

The regulatory environment plays a crucial role in shaping the market:

• FDA Guidance: The U.S. Food and Drug Administration (FDA) has issued guidance on the use of promethazine and codeine due to concerns over abuse and misuse[3].
• Abbreviated New Drug Applications (ANDAs): Companies like Akorn, Inc. have received approvals for their ANDAs, allowing them to market generic versions of these syrups[5].

Consumer Behavior and Patient Assistance

Consumer behavior is influenced by several factors:

• OTC Availability: Easy access to OTC cough and cold remedies drives consumer preference.
• Patient Assistance Programs: While there are no specific patient assistance programs for promethazine-codeine syrup, healthcare providers may have information on available programs[2].

Key Takeaways

• The promethazine-codeine syrup market is driven by increasing incidences of common cold and allergies, as well as rising R&D investments.
• The market is segmented by product and application, with significant growth expected in the adult segment.
• Regional markets, especially North America and APAC, are expected to contribute substantially to the global growth.
• Pricing varies based on formulation and brand, with generic versions offering cost-effective options.
• Regulatory scrutiny and public health warnings are critical factors influencing market dynamics.

FAQs

1. What are the primary uses of promethazine-codeine syrup? Promethazine-codeine syrup is primarily used for the temporary relief of coughs and upper respiratory symptoms associated with allergies or the common cold.

2. What are the key drivers of the promethazine-codeine syrup market? The key drivers include increasing incidences of common cold and allergies, rising R&D investments by pharmaceutical companies, and the OTC availability of these preparations.

3. What are the potential side effects of promethazine-codeine syrup? Common side effects include drowsiness, dizziness, blurred vision, and nausea.

4. How does the regulatory environment impact the market? The FDA has issued guidance on the use of promethazine and codeine due to concerns over abuse and misuse, and companies must obtain approvals for their ANDAs to market these syrups.

5. Are there any patient assistance programs available for promethazine-codeine syrup? There are no specific patient assistance programs for promethazine-codeine syrup, but healthcare providers may have information on available programs.

Sources

1. The Insight Partners, "DXM and Codeine Syrup Market Opportunities 2031"
2. Drugs.com, "Promethazine VC with Codeine Prices, Coupons, Copay Cards & Patient Assistance"
3. PLOS ONE, "Exploratory study on “lean” or “sizzurp” using national survey data"
4. Cognitive Market Research, "Global DXM and Codeine Syrup Market Report 2024 Edition"
5. BioSpace, "Akorn, Inc. Launches Two Additional Promethazine Syrup Formulations"