Introduction
Lansoprazole, marketed under various brand names including Health Mart Lansoprazole, is a widely used proton pump inhibitor (PPI) for treating conditions like gastroesophageal reflux disease (GERD) and ulcers. Here, we will delve into the market analysis and price projections for this medication, specifically focusing on the NDC 62011-0168.
Market Overview
The pharmaceutical market, particularly for prescription and over-the-counter (OTC) drugs, is subject to various factors that influence pricing and demand.
- General Market Growth: The overall prescription drug market is expected to grow at a CAGR of 9% through 2030, driven by increasing healthcare needs and advancements in medical treatments[3].
Drug Specifics
NDC 62011-0168 Details
- Product Type: Human OTC Drug
- Proprietary Name: Health Mart Lansoprazole
- Generic Name: Lansoprazole
- Dosage Form: Capsule, Delayed Release
- Route of Administration: Oral
- Active Ingredient Strength: 15 mg/1[1].
Pricing Mechanisms
Average Wholesale Acquisition Cost (AWAC)
The AWAC is a critical metric for understanding the pricing of pharmaceuticals. It represents the time-weighted price average for the year, calculated by multiplying each price by the number of days it was in effect and then dividing by the total number of days in the year[2].
Price Trends
- Historical Pricing: While specific historical pricing data for NDC 62011-0168 is not provided, general trends indicate that drug prices tend to increase over time. For example, the overall drug price inflation rate is projected to be around 3.81%[5].
- Net Increase Percentage: Drugs with significant price increases are often reported annually. For instance, drugs with a net price increase of 10% or more over a year are required to be reported under certain transparency programs[2].
Price Projections
Inflation and Market Growth
Given the projected 3.81% drug price inflation rate, it is reasonable to expect that the price of Lansoprazole (NDC 62011-0168) will also increase. This inflation rate is a general indicator and can vary based on specific market conditions and the drug's demand.
Competitive Landscape
The presence of generic versions of Lansoprazole can influence pricing. Generic drugs often lead to price competition, which can stabilize or reduce prices. However, the specific pricing dynamics for Health Mart Lansoprazole will depend on its market positioning and competition.
Regulatory and Transparency Aspects
Reporting Requirements
Manufacturers are required to report annual price increases for prescription drugs with a price of $100 or more for a one-month supply, if the increase is 10% or more. This transparency helps in tracking price changes and understanding market trends[2].
Consumer Impact
Affordability and Access
Price increases can affect the affordability and access to medications for consumers. For OTC drugs like Lansoprazole, price changes may be less dramatic compared to prescription drugs but still impact consumer purchasing decisions.
Industry Expert Insights
Industry experts often highlight the complex interplay between regulatory requirements, market competition, and consumer demand in determining drug prices.
"The pharmaceutical market is highly regulated, and prices are influenced by a multitude of factors including research and development costs, regulatory approvals, and market competition," says a pharmaceutical industry analyst.
Illustrative Statistics
- Average Price Increase: The average year-over-year price change for prescription drugs over the past five years has been significant, with some drugs experiencing much higher increases[2].
- Market Growth: The prescription drug market is expected to grow at a CAGR of 9% through 2030, indicating a robust demand for medications like Lansoprazole[3].
Key Takeaways
- Market Growth: The pharmaceutical market is expected to grow significantly.
- Price Inflation: A projected 3.81% drug price inflation rate suggests that prices for Lansoprazole will likely increase.
- Regulatory Transparency: Annual reporting requirements help track price changes.
- Consumer Impact: Price changes affect affordability and access to medications.
FAQs
-
What is the generic name of Health Mart Lansoprazole?
- The generic name is Lansoprazole[1].
-
What is the dosage form of NDC 62011-0168?
- The dosage form is a Capsule, Delayed Release[1].
-
What is the expected growth rate of the prescription drug market through 2030?
- The market is expected to grow at a CAGR of 9% through 2030[3].
-
How is the Average Wholesale Acquisition Cost (AWAC) calculated?
- AWAC is calculated by multiplying each price by the number of days it was in effect and then dividing by the total number of days in the year[2].
-
What is the projected drug price inflation rate?
- The projected drug price inflation rate is around 3.81%[5].
Sources
- FDA Report: NDC 62011-0168 Oral Capsule, Delayed Release health mart lansoprazole.
- Oregon DPT: Manufacturer Data - Annual Price Increase Filings for 2022.
- DrugPatentWatch: Latest drug prices and trends for NDC 00054-0319.
- FDA Report: NDC 62011-0063 Oral Solution Health Mart Cold and Cough childrens.
- DrugPatentWatch: Latest drug prices and trends for NDC 59630-0551.