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The Covid Resurgence Causes an Acute Increase in the Cost of Ibuprofen Globally
The Covid Resurgence Causes an Acute Increase in the Cost of Ibuprofen Globally

The Covid Resurgence Causes an Acute Increase in the Cost of Ibuprofen Globally

  • 12-Jan-2023 3:50 PM
  • Journalist: Jung Hoon

Ibuprofen prices have started to rise significantly worldwide, especially in the APAC area, after facing a weak market situation over the last few months of the previous year, 2022. This will eventually have an impact on other countries in the upcoming weeks. Daily COVID-19 instances are increasing in China, yet conventional cold medications like Ibuprofen are in low supply in the US, EU, and Chinese pharmaceutical industries. Ibuprofen has become one of the most challenging drugs to obtain due to rising Omicron virus infection rates, although the situation is improving as more Chinese cities increase supply in response to the rising demand.

Since India and China are the major players in this pharmaceutical business, about 50% of the Ibuprofen sold worldwide is produced in these two countries. 60% to 80% of European Union nations' total pharmaceutical raw material needs are met by China and India combined.

A few weeks after the Xi-Jinping government relaxed the strict Zero Covid Policy, Covid cases in China have increased exponentially. Some experts believe the world's second-largest economy may now be facing an explosion of cases that will impact the economies of the major producing regions and the global Ibuprofen market. Chinese provinces are experiencing a severe scarcity of Ibuprofen due to individuals rushing directly to the factories where the medications are made and waiting in huge lines to buy them. As a result, retailers have put limits on consumer purchases, and pharmaceutical companies have increased output propelling domestic merchants to raise their quotations.

Ibuprofen prices are increasing in other international markets as well, as there may be a shortage of the drug elsewhere if there is one in China. As the Chinese pharmaceuticals asked the Indian manufacturers to increase the supply of Ibuprofen on the back of unmanageable demand, the production rates increased by many folds, further influencing the market prices.

According to ChemAnalyst: " Ibuprofen's price is expected to steadily increase in the upcoming month of the first quarter of 2023. International market participants anticipate consistent price increases, though China may see a faster rate due to the recurrence of pandemic cases and the installation of lockdowns in the provinces.

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