Global Ofloxacin Price Trend remains Optimistic Throughout Q1-2023
- 04-Apr-2023 10:48 AM
- Journalist: Bob Duffler
Ofloxacin prices trend across the international market asserted the entire first quarter of 2023 on a positive note, with higher global demand from both the pharmaceutical and healthcare sectors balanced with consistent production activity across the exporting nation.
In the APAC region, one of the significant exporters of Ofloxacin, with the start of the first quarter of 2023, i.e., in January 2023, Consumer confidence returned on a positive side as demand from the downstream sector raised to the global market resulting in the improvement in inflationary pressure, which consequently encouraged the purchasing sentiments for all the pharmaceutical end-products including Ofloxacin in the relevant regions. Furthermore, as February 2023 approaches and the Chinese Lunar New Year ends, the demand from the downstream sector increased moderately, propelling the market participants to raise the product quantity on their shelves.
Similarly, throughout the first quarter of 2023, the price of Ofloxacin increased continuously in both the United States and the European region. The Consumer Price Index increased 0.5% since the start of the first quarter of 2023, demonstrating a favorable trend on the demand-supply side for Ofloxacin. Meanwhile, as February 2023 draws near, the momentum for imports has been witnessed on the sturdy side as offtakes for Ofloxacin increased at the same rate as in January 2023. This has allowed market participants to boost their prices and concentrate on placing more orders. The rise in the price of electricity and consistent ease in trade activity until the end of this quarter further supported the overall surge in the prices of Ofloxacin across the domestic and international markets.
As per the Chemanalyst analysis, “A consistent positive demand outlook is anticipated for Ofloxacin with limited supplies across the Global Market. The trading activity is likely to increase, with brisk demand for bulk purchases from the supplier’s end.”