Asia
In Asia, particularly in the Indian market, streptomycin prices experienced fluctuations due to lower costs of raw materials, which reduced production expenses in the early phase of the quarter. Additionally, decreased inquiries from downstream industries and year-end destocking contributed to the price decline. However, as the months progressed, prices rose as manufacturers like Granules India reported increased profit margins, sparking optimism among traders for future quarters. Furthermore, the National Pharmaceutical Pricing Authority (NPPA) announced an increase in the Maximum Retail Price of essential medicines, including streptomycin, effective April 1, 2024, based on the wholesale price index change from 2022 to 2023.
Europe
In Europe, the streptomycin market faced global volatility during the first quarter of 2024, influenced by the dynamic pricing strategies in the US and increased price quotations from Asian traders. The reduction in import volumes from these regions strained inventories amid substantial demand for the commodity.
On the other hand, domestic production struggled with rising feedstock material costs and crude oil prices. Geopolitical tensions from the Middle East, particularly maritime shipment attacks by Houthi communities and sanctions on Russian imports, significantly impacted the pricing trajectory of streptomycin in Q1 2024.
North America
In North America, the United States faced generic drug shortages, partly due to low prices and price capping by overseas industries, posing challenges for healthcare and national security. Manufacturers focused on mitigating these shortages, including proposals to increase domestic drug production. However, the competitive market atmosphere, driven by imports predominantly from India and the EU, raised concerns about dependency on foreign suppliers.
Domestic production solutions are complicated by higher costs and environmental challenges, necessitating significant investments and policy changes. The shortage crisis underscores the need for substantial governmental intervention and strategic investment to secure a stable supply of streptomycin and other essential drugs.
Analyst Insight
According to Procurement Resource, the price trend of Streptomycin is expected to increase by a slight margin based on the raised quotations by several market giants and the escalating cost of production.
Procurement Resource provides latest prices of Streptomycin. 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.
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Streptomycin is a broad-spectrum antibiotic produced from Streptomyces griseus. This white to off-white antibiotic is highly soluble in water and is widely used in the treatment of tuberculosis and other bacterial infections. It inhibits the protein synthesis in bacteria's thereby halting their growth and reproduction. It is also used in the agriculture sector to control plant bacterial diseases and in aquaculture to treat infections in fish and in veterinary medicine for livestock and pets.
C21H39N7O12
Medicine, Biotechnology Research, Aquaculture
Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Abbott Laboratories, Merck & Co Inc, Sanofi SA, Mylan N.V.
CurrencyUS$ (Data can also be provided in local currency)
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