Neomycin Sulphate Price Trends and Forecast

Regional Price Overview

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

Neomycin Sulphate Price Trends for the July-September of 2023

Asia

Neomycin Sulphate began its market run with a major slump at the beginning of the third quarter in the Asian markets, particularly China. The veterinary antibiotic drug was experiencing a depressing phase since the production facilities were struggling for a long time in China.

Supplies were long cut short, which made the consuming pharma and biotech sectors shift to other alternative options. So, the neomycin sulphate price index noted a steep fall at the beginning of the first month of the quarter. Even though the following months witnessed some rebound in the neomycin sulphate price trends, the general market outlook was regressive. Overall, low-wavering price trends were observed during the said period.

Europe

The European market trends for neomycin sulphate were no different than the Asian trends during the said period of Q3’23, primarily because many European markets are dependent on Asian exports for veterinary drugs like neomycin sulphate. Apart from this, the gradually easing inflationary pressure also took away the upstream cost support. The demand front was also not exciting for neomycin sulphate. So, the general market sentiments remained muted throughout the quarter.

North America

Neomycin Sulphate trade in the American market painted no different picture than the global trends. The price trends were found to be struggling here, too, as the economic situation in the region was still unstable. Overall, a poor market outlook was observed.

Analyst Insight

According to Procurement Resource, Neomycin Sulphate price analysis offers positive forecasts for the coming months since the depreciated market will look for normalization.

Neomycin Sulphate Price Trends for the First Half of 2023

Asia

The prices of neomycin sulphate witnessed a significant incline in the first quarter of 2023 as positive demand from the downstream pharmaceutical and healthcare industries drove the market dynamics.

The bullish trends was also a result of the enhanced interest of international customers, and after the long stretch of covid and the holiday season in China, the consumption, as well as production rates, gained momentum, resulting in northwards movement of the neomycin sulphate prices. However, the second quarter did not follow this path, and from late April, the price trends of neomycin sulphate began to decline. This quarter was further affected by a notable reduction in consumption and a slowing down of manufacturing activities.

Europe

The first quarter of 2023 maintained a consistent rise in the prices of neomycin sulphate as the rates of inflation declined along with the cost of energy production. This further improved the trading activities of neomycin sulphate in the region and thus helped the neomycin sulphate prices to move in a positive direction.

Even in the first two months of the second quarter, the limited level of inventories, consistent demand, and slow supply of the products supported the rising cost of neomycin sulphate prices. But in the last month, the rates of inflation started to surge, which in turn caused the cost of energy and interest rates charged by European banks to hike. Further, the depreciation of the Euro in comparison to the US dollar ultimately led to the fall in the price trends of neomycin sulphate.

North America

In the first quarter, the neomycin sulphate market demonstrated strong market movement with a stable rise in the number of orders from the downstream industries, and the price trends of neomycin sulphate inclined. In addition to this, the expensive imports from Asian countries also supported the rise in the price trends.

In the second quarter, many manufacturing units reduced their production activities, putting pressure on the existing level of inventories and supply chains while the demand from the end-user industries remained high, causing the price trends to further incline. But in the last month of the second quarter, the rise in interest rates and overall inflation in North America hampered the growth of neomycin sulphate prices.

Analyst Insight

According to Procurement Resource, the price trends of Neomycin Sulphate is expected to oscillate in the upcoming quarters as the demand from the downstream industries seems to be sliding amid the weak global economic conditions.

Procurement Resource provides latest prices of Neomycin Sulphate. 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.