In a new post to his blog Johannes Schluter suggests an alternative to using prepared statements in PHP applications using a database - creating a handler method that allows for dynamic queries as well as proper escaping of values.

Now prepared statements were a nice invention some 30 years ago abut they weren't meant for making things secure and so they do have some shortcomings: One issue is that preparing and executing a query adds a round-trip to the server where it then requires resources. [...] With prepared statements you first have to build the list of place holders (the exact amount of place holders (?) separated by a comma, without trailing comma) and then bind the values and mind the offsets when having other values - this typically becomes ugly code.

He includes the code for his alternative, a function using the mysqli extension to let you create dynamic SQL that still uses placeholders and proper escaping to prevent both SQL injection issues and resources problems caused by the multiple hops back to the database.