Prices for Apixaban Plummet as the Year Comes to an End as Demand Declines

The minimal trading activity seen at the end of the year has left the price of Apixaban in the worldwide market in a precarious position for the past few months. The continued decrease in feedstock prices contributes to the price drop of Apixaban in the European region, including China, a key producer. Additionally, declining downstream pharmaceutical sector demand, which lowers the price of the downstream product, is slightly weighing down on the markets for Apixaban.

Demand for Apixaban has decreased from the end-user pharmaceutical sector. As a result, the European Apixaban market is still downbeat. Market participants noted an absence of queries from the Pharmaceutical industries. According to reports from numerous sectors, the recession's likelihood still persists. The supply of commodities in the European market has also increased due to multiple imports from Asia. According to the findings, the Purchasing Managers' Index (PMI) rose to 48.8 from 47.2 in November, while manufacturing production in the Eurozone contracted at its lowest rate in December. In contrast, a market expert noted that major producers (mainly China) have started reducing their Apixaban output to balance a material surplus with diminishing demand in the last quarter of 2022.

The abundant natural gas supply has helped to stabilize the market and lower the prices because European Natural Gas reserves are fully stocked. Additionally, supply networks operate efficiently, providing a consistent flow of products into the market. This is due to decreasing yard occupancies and fewer port congestions. As a result, the current stocks can respond to downstream industries' requests.

According to a recent analysis, market players in Germany restrained themselves from placing newer orders and concentrated on the destocking procedures; as a result, further queries for Apixaban were muted to a lower level. Overall, the prices for Apixaban demonstrated till now witnessed a dwindling trend of around 1.8 percent.

According to ChemAnalyst, the price of Apixaban is expected to decrease significantly with the start of the following year, or 2023. Amidst an increase in end-user demand, market participants are anticipated to make new orders.