Amidst Dull Demand, Moxifloxacin Hydrochloride Prices Witness a Downtrend Across the Globe
- 11-Jan-2023 6:43 PM
- Journalist: Kim Chul Son
The prices of Moxifloxacin Hydrochloride, an Active Pharmaceutical Ingredient used to treat a bacterial infection, remained low till the last week of December 2022 in China and the US. Numerous factors, such as weak inquiries, rising energy costs due to climatic changes, and market closures, supported this decreased trend of Moxifloxacin Hydrochloride in both regions. Furthermore, trading activities slowed ahead of the outbreak of Covid-19 cases in China and the thanksgiving holidays in the US, owing to which producers and suppliers rushed to clear their existing inventories of Moxifloxacin Hydrochloride.
In the US, the price of Moxifloxacin Hydrochloride fell considerably with the start of December 2022, mainly because of the Christmas break as the market remained closed considerably, resulting in the stored up of inventories within the domestic market. Furthermore, exports of Moxifloxacin Hydrochloride from Asian countries such as China to North American and European countries such as the US and Germany declined significantly, and inventories had enough to meet the necessities.
Similarly, In China, Moxifloxacin Hydrochloride prices have shown a downward trend since the beginning of December 2022 because of weak end-user demand. However, China's zero-COVID-19 strategy has eased, but the outburst in COVID-19 cases has affected the overall market sentiments of Moxifloxacin Hydrochloride in both domestic and international markets. Despite weaker end-user demand, supply within the market was sufficient to fulfill the product requirements. However, according to the recent trend, the prices of all APIs are expected to increase at the end of December 2022. The resurgence of COVID-19 cases in China has affected the import activities of all the pharmaceutical APIs across the global market. Because of this, manufacturing activities are likely to begin at a large scale to prevent unavailability.
According to ChemAnalyst, "the cost of Moxifloxacin Hydrochloride is expected to improve at a higher rate globally. The prices of key Active Pharmaceutical ingredients, an essential ingredient used in manufacturing medicines, are expected to incline on the back of increased end-user demand from various end-user sectors. In addition, Market participants are likely to increase their inventories to prevent further shortages.