Naproxen Prices Show Optimistic Trend in the US Amidst Rising Domestic Demand

The demand for Naproxen across the United States has been increasing in recent months, demonstrating an overall optimistic trend throughout the second quarter of 2023. This surge in its prices was due to several factors, including a rise in domestic inquiries, a surge in upstream cost, and operational charges during June. The supply of Naproxen in the United States is also increasing due to the expansion of manufacturing capacity in the United States and the increasing availability of generic versions of Naproxen.

The war in Ukraine has also affected the supply of some raw materials used to make Naproxen. This has led to higher prices for Naproxen in the current month and is expected to continue to surge in the approaching months. Additionally, The COVID-19 pandemic disrupted supply chains worldwide, leading to higher freight rates. However, the situation has improved in recent months, as ports have reopened, and factories have resumed production for Naproxen. This has led to an increase in the availability of goods, which is putting downward pressure on freight rates. Apart from that, crude oil prices have also reduced across the globe, further supporting the lower freight charges.

Also, the number of container ships in the global fleet has increased in recent months, which is also putting downward pressure on freight rates. This is due to certain factors, including the increase in shipbuilding activity and the return of ships that were previously idled due to the pandemic. Moreover, The Consumer Price Index (CPI) in the United States increased 0.1% in June 2023 after increasing 0.4% in May. This increase in the CPI in June was driven by a 0.3% increase in the food index and a 0.2% increase in the energy index.

On top of that, Naproxen, one of the Pharmaceutical APIs, is a Non-Steroidal Anti-Inflammatory Drug (NSAID) that is used to relieve pain, fever, and inflammation. It is a popular over-the-counter medication and is also available by prescription. Its production costs have also increased in recent months across exporting nations such as India, one of the primary exporters of Naproxen. This surge in production cost was due to a surge in global inquiries such as from the US and Europe, improved production processes, and higher energy prices required in operational activity. The surge in the export of the product is also contributing to the price increase of Naproxen. The United States is one of the importers of Naproxen from the APAC countries.

As per the ChemAnalyst anticipation, “Overall, the demand and supply of Naproxen in the United States are expected to remain strong in the approaching months as well. This is likely to lead to stable prices for Naproxen, although there is some risk of price increases if supply disruptions continue.”