Market Analysis and Price Projections for NDC 83980-0004: Furosemide
Introduction
The National Drug Code (NDC) 83980-0004 corresponds to Furosemide, a diuretic medication manufactured by Ipca Laboratories Limited. This article provides a comprehensive market analysis and price projections for this specific NDC, helping stakeholders understand the current and future trends in the pharmaceutical market.
Overview of Furosemide
Furosemide, commonly known by the brand name Lasix, is a loop diuretic used to treat fluid build-up (edema) and swelling that is caused by congestive heart failure, liver disease, a severe kidney disorder, or a kidney disorder called nephrotic syndrome. It works by increasing the amount of urine produced by the kidneys, thus helping to reduce fluid retention in the body[4].
Market Trends in the Pharmaceutical Industry
The pharmaceutical industry is experiencing significant growth, driven by various factors including an aging population, increased prevalence of chronic diseases, and advancements in medical technology. Here are some key trends:
- Global Market Growth: The overall prescription drug market is expected to grow at a Compound Annual Growth Rate (CAGR) of 9% through 2030. This growth is fueled by increasing demand for both small molecule drugs and biologic products[2].
- Price Disparities: The U.S. market stands out with significantly higher drug prices compared to other regions. In 2022, the average price per unit in the U.S. was 5.5 times as high as in the OECD (excluding the U.S.) and 7.7 times as high as the rest of the world (excluding the U.S.)[3].
Specific Market Analysis for Furosemide (NDC 83980-0004)
Manufacturer and Labeler
Furosemide with the NDC 83980-0004 is manufactured and labeled by Ipca Laboratories Limited, an Indian pharmaceutical company known for producing a wide range of generic and branded medications[4].
Pricing Trends
While specific pricing data for NDC 83980-0004 is not readily available, general trends in the pricing of generic medications like Furosemide can be observed:
- Generic Drug Pricing: Generic drugs, including Furosemide, generally have lower prices compared to their branded counterparts. However, prices can fluctuate based on market demand, competition, and regulatory changes.
- Price Stability: Generic drugs often experience stable or slightly decreasing prices over time due to increased competition among manufacturers. For example, other generic drugs have shown price stability or minor decreases in recent years[5].
Market Demand
The demand for Furosemide is consistent due to its widespread use in treating various medical conditions:
- Chronic Conditions: The increasing prevalence of chronic conditions such as heart failure and kidney diseases drives the demand for diuretics like Furosemide.
- Hospital and Retail Markets: Both retail pharmacies and non-retail markets (e.g., hospitals and physician offices) contribute to the demand for Furosemide, with non-retail markets showing significant growth in recent years[3].
Price Projections
Given the general trends in the pharmaceutical market and the specific characteristics of Furosemide, here are some price projections:
- Short-Term Stability: In the short term, prices for Furosemide (NDC 83980-0004) are likely to remain stable due to the competitive nature of the generic drug market.
- Long-Term Trends: Over the long term, prices may experience minor decreases as more manufacturers enter the market and competition increases. However, any significant price drops are unlikely due to the consistent demand for this medication.
- Regulatory Impact: Regulatory changes or policy shifts could impact pricing. For instance, initiatives aimed at reducing healthcare costs might lead to lower prices for essential medications like Furosemide.
Competitive Landscape
The competitive landscape for Furosemide is characterized by multiple manufacturers producing generic versions of the drug. This competition helps keep prices in check:
- Multiple Manufacturers: Besides Ipca Laboratories Limited, other companies also produce Furosemide, contributing to a competitive market environment.
- Market Share: The market share of Ipca Laboratories Limited for Furosemide would depend on factors such as pricing, distribution channels, and quality of the product.
Conclusion
The market analysis for Furosemide (NDC 83980-0004) indicates a stable and slightly competitive pricing environment. Here are the key takeaways:
- Stable Demand: The demand for Furosemide is consistent due to its use in treating chronic conditions.
- Price Stability: Prices are likely to remain stable in the short term and may experience minor decreases in the long term due to competition.
- Regulatory Impact: Regulatory changes could influence pricing trends.
Key Takeaways
- Market Growth: The pharmaceutical market, including generic drugs like Furosemide, is expected to grow at a CAGR of 9% through 2030.
- Price Trends: Prices for Furosemide are expected to remain stable with potential minor decreases over time.
- Demand: Consistent demand driven by chronic conditions.
- Regulatory Factors: Regulatory changes can impact pricing.
FAQs
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What is Furosemide used for?
Furosemide is used to treat fluid build-up (edema) and swelling caused by congestive heart failure, liver disease, a severe kidney disorder, or a kidney disorder called nephrotic syndrome.
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Who manufactures Furosemide with NDC 83980-0004?
Furosemide with NDC 83980-0004 is manufactured by Ipca Laboratories Limited.
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What are the expected price trends for Furosemide?
Prices for Furosemide are expected to remain stable in the short term and may experience minor decreases over the long term due to competition.
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How does the competitive landscape affect Furosemide pricing?
The presence of multiple manufacturers producing generic versions of Furosemide helps keep prices competitive and stable.
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What regulatory factors could impact Furosemide pricing?
Regulatory changes aimed at reducing healthcare costs or other policy shifts could influence the pricing of Furosemide.
Sources
- CDC - IIS | Code Sets | NDC | Vaccines
- DrugPatentWatch - Latest drug prices and trends for NDC 00054-0319
- ASPE - International Market Size and Prices
- Find-A-Code - Ipca Laboratories Limited - List of Drugs - NDC Labeler/Manufacturer
- DrugPatentWatch - Latest pharmaceutical drug prices and trends for NDC 00054-4858
