German Ofloxacin Prices Likely to Remain Steady in the Upcoming Months
German Ofloxacin Prices Likely to Remain Steady in the Upcoming Months

German Ofloxacin Prices Likely to Remain Steady in the Upcoming Months

  • 05-Jul-2023 12:43 PM
  • Journalist: Gabreilla Figueroa

The prices of Ofloxacin are expected to remain stable in the upcoming months due to moderate demand from both the healthcare and pharmaceuticals sectors balanced with enough supply of Ofloxacin in the German market.

China is the major exporter of Ofloxacin in the German market. Germany imports millions worth of APIs (Active Pharmaceutical Ingredients) from China. The export of APIs in Germany is expected to improve in the coming months, which might lead to better trade activity compared to May 2023, contributing to a positive price scenario of Ofloxacin in Germany. Apart from this, Consumer Price Index (CPI) was 6.1 in May 2023, which rises to 6.4 in June 2023, suggesting a slight increase in inflation that resulted in an increase in prices in June. The inflation rate is expected to remain steady in the coming months, keeping the prices stable. Also, the invasion of Russia in Ukraine has impacted the international supply chain resulting in increased energy and oil prices. This plays a significant role in raising the prices in June.

The Purchasing Manager Index (PMI) fell to 41 in June 2023 from 43 in the previous month, indicating a slowing down of the German economy. This exhibits that the demand from the downstream industry, including purchasing costs, new orders, or trades, remains constant. There can be other possible reasons for the moderate demand for Ofloxacin in the market, such as the availability of competitive drugs like azithromycin and chloramphenicol. Apart from that, the presence of generic medicines in the market can be another explanation that upholds the moderate demand from consumers.

A similar trend of Ofloxacin prices can be noticed in the US market as the Chinese Yuan strengthened against the US dollar, making Ofloxacin more expensive for consumers. Also, the US imposes tariffs on billions of dollars worth of goods imported from China, leading to stable prices of APIs for consumers.

As per the ChemAnalyst analysis, there might be chances that the Ofloxacin prices will remain steady in the coming months due to gradual improvement in trading activity between both China and Germany balanced with limited demand from end consumers. Currently, Germany is going through climate change and energy crises that can disrupt supply chains and impact the transportation of APIs. Recently China and Germany have come up to talk about climate change, trade relations, and the Ukraine war. This can resolve political issues and improve commerce between countries, leading to stability in Ofloxacin prices.

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