Rifampicin Price Trend and Forecast

Rifampicin Regional Price Overview

Get the latest insights on price movement and trend analysis of Rifampicin in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Rifampicin Price Trend for the Second Half of 2023

Rifampicin, known for its efficacy against tuberculosis and other bacterial infections, propels demand, especially in regions with high prevalence rates. Moreover, the rise in multidrug-resistant strains necessitates its use as a readily available treatment option.
 

Rifampicin Price Chart

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Government initiatives for tuberculosis control programs and increased healthcare expenditure further boost market growth. Additionally, the expansion of pharmaceutical manufacturing capacities and the development of generic formulations contribute to Rifampicin's accessibility and affordability and play a significant role in driving its market expansion.

In the H2 of 2023, the fluctuations in the market came in the form of the oscillations observed in the downstream pharmaceutical industries. Throughout the majority of the third quarter, the prices of the drugs inclined gradually, but in India, after the announcement of the capping of drug prices in order to keep them relevant for the general public, the downfall of the pharmaceutical industry started.

The producers of rifampicin and others had to revisit their production strategies, and thus, even by the end of the year, the market showcased no significant improvement in its dynamics and price trend. Further, the loss of imports and disruption of Red Sea routes also had an adverse effect on the overall movement of the rifampicin price trend.

Analyst Insight

According to Procurement Resource, the price trend of Rifampicin is expected to be driven by the demand from the downstream industries as well as the policies adopted by the government particularly in the Asian countries.
 

Rifampicin Price Trend for the First Half of 2023

Rifampicin is an antibiotic drug that is extensively used to aid TB (Tuberculosis). The Rifampicin prices showed a rapid rise over the discussed period of H1 2023. The prices had been rising for most pharmaceutical drugs since the onset of Covid 19 pandemic as globally, the demands surged overnight, but the disrupted supply chains made the transportation and procurement processes difficult.

Also, the manufacturing countries restricted the supplies to ensure domestic medicine security first. But as the restrictions are over now in most parts of the world, the prices were expected to go back to normal; however, the opposite is happening. The prices have doubled compared to the pre-pandemic levels.

The biggest driver behind the price surge is the rise in raw material API costs. As India and China account for more than 70% of global generic drug manufacturing, a price surge in this region had an impact on global Rifampicin prices. India is the key manufacturer but is almost completely dependent on Rifampicin’s active pharmaceutical ingredients in China. As China raised the API prices, the Rifampicin prices also rose.

Analyst Insight

According to Procurement Resource, the price trend for Rifampicin are likely to exhibit positive projections as the prices are likely to rise further, given the actively rising manufacturing costs.

Procurement Resource provides latest prices of Rifampicin. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.