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Azithromycin Prices Show Bullish Trend Across the Globe in May 2023
Azithromycin Prices Show Bullish Trend Across the Globe in May 2023

Azithromycin Prices Show Bullish Trend Across the Globe in May 2023

  • 31-May-2023 6:58 PM
  • Journalist: Timothy Greene

Azithromycin's price ended May 2023 on a more positive note because of constant production in the Chinese provinces and relatively strong international demand from the pharmaceutical and healthcare industries. Prices for Azithromycin are anticipated to keep rising, contributing to the second quarter of 2023 ending on a positive note.

In the APAC region, one of the main destinations for the export of Azithromycin, consumer confidence increased at the beginning of May. An increase reduced inflationary pressure in downstream sector demand in the international market, raising consumer confidence for all pharmaceutical end products—including Azithromycin—in the Chinese markets. Market participants start new manufacturing operations to replenish their inventories with fresh products. The Covid-19 outbreak and the unrest in Ukraine have also had an impact on the global supply chain. Due to the disruption in the supply chain, production halted, and transportation costs rose overall. Active Pharmaceutical Ingredients (APIs), excipients, and packaging elements were all covered. Asia dominates the global market for pharmaceutical raw materials and excipients. China and India are the two primary competitors in this market.

Like this, the cost of Azithromycin has been steadily rising in both the United States and Europe. The bulk of the United States' APIs and a sizable portion of its generic drugs are obtained from China or other countries that use (APIs/chemical intermediates) imported from China. More particular, China is the source of 36% of the antibiotic APIs used in the US. Market participants are now allowed to raise their prices for Azithromycin and concentrate on placing larger orders. The general increase in energy prices played a role in the rise in Azithromycin prices in both domestic and foreign markets. The European region witnessed a worldwide energy crisis after Russia invaded Ukraine, which drove up prices and hampered energy trade flows. Although Europe's natural gas supply was at the center of the crisis, the energy sector and all geographical areas have been affected.

As per the ChemAnalyst analysis, " It is anticipated that the top end of the Azithromycin price range would exhibit sustained inclination and supply-demand balance. Consistent demand and enough supply from merchants are expected to stabilize the market.

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