Increasing R&D and Soaring KSM Prices Likely to Drive the Enoxaparin Sodium Market in Asia

In the APAC region, the price of Enoxaparin Sodium surged considerably in January 2023. The market for Enoxaparin Sodium is now much better off due to rising energy and production costs. India and China, two of the world's top producers, are experiencing a rising demand and a prolonged supply deficit due to the recurrence of the pandemic scenario.

A surge of COVID-19 instances in the Chinese provinces during the fourth quarter of 2022 caused market disruptions, affecting the Indian market in January 2023. The Indian government has provided funds to the domestic manufacturers regarding Research and Development for more advancement of the Enoxaparin Sodium market in India, which has influenced positive price trajectory in the Indian market. Enoxaparin Sodium being a biosimilar product is very much in demand and is not accessible in the market easily. Also, as the major Enoxaparin Sodium manufacturers, Indian domestic merchants have all the authority to cap prices according to the consumer's demand. With the shortage of Key Starting Material (KSM) in the Indian market, the prices for Enoxaparin Sodium raised in the Indian market. The domestic suppliers decided to increase Enoxaparin Sodium's cost in the market to preserve their profit margins.

The Enoxaparin sodium prices also increased on the back of rising KSM prices in the Chinese market. Throughout the lunar new year festival, the market was feeble in the Chinese provinces affecting the KSM prices. The COVID-19 outbreaks in China have also caused a slowdown in deliveries and shipping, affecting the overall market situation of Enoxaparin Sodium price in India.

Also, around 40 biosimilar products had the approval for manufacturing activities in the US, including Enoxaparin Sodium, which successively influenced the demand for the product in the US market.

ChemAnalyst reports that new manufacturing activities and stocks accumulated to fulfill projected demand will cause Enoxaparin Sodium prices to increase even more in the ensuing months of 2023.