Share This Page
Drug Price Trends for GNP WITCH HAZEL
✉ Email this page to a colleague
Average Pharmacy Cost for GNP WITCH HAZEL
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| GNP WITCH HAZEL 86% SOLUTION | 46122-0335-43 | 0.00700 | ML | 2024-12-18 |
| GNP WITCH HAZEL 86% SOLUTION | 46122-0335-43 | 0.00724 | ML | 2024-11-20 |
| GNP WITCH HAZEL 86% SOLUTION | 46122-0335-43 | 0.00687 | ML | 2024-10-23 |
| GNP WITCH HAZEL 86% SOLUTION | 46122-0335-43 | 0.00668 | ML | 2024-09-18 |
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Market Analysis and Price Projections for GNP Witch Hazel
Overview of Witch Hazel
Witch hazel, derived from the plant Hamamelis virginiana, is a widely used herbal product known for its astringent and soothing properties. It is commonly utilized in skincare products, pharmaceuticals, and traditional medicine.
Market Demand and Trends
The demand for witch hazel has been steadily increasing, driven by its versatile applications in the cosmetic, pharmaceutical, and healthcare industries.
- Cosmetic Industry: Witch hazel is a key ingredient in many skincare products due to its ability to soothe skin irritations and reduce inflammation. The growing demand for natural and organic skincare products has contributed to the increased use of witch hazel in cosmetic formulations[4].
- Pharmaceutical Industry: Witch hazel is used in various pharmaceutical products, including topical treatments for skin conditions. The expanding indications for existing medications and the introduction of new treatments have kept the demand for witch hazel stable[3].
Price Influencing Factors
Several factors influence the price of witch hazel:
- Raw Material Costs: The price of witch hazel is heavily influenced by the cost of raw materials, which includes the twigs and bark of the Hamamelis virginiana plant. Factors such as the size and concentration of the witch hazel, accessibility of the property, and market conditions at the time of harvest play significant roles[1].
- Market Conditions: Market demand and supply dynamics significantly affect the price. For instance, the demand for witch hazel has grown 10-12 percent annually in recent years, which is projected to continue[1].
- Processing and Manufacturing: The cost of processing and manufacturing witch hazel, including the addition of preservatives like alcohol, also impacts the final product price[1].
Current Market Pricing
As of the current market, witch hazel is priced based on various factors including the source and quality of the raw material.
- Raw Material Pricing: Landowners are paid based on the weight of the harvested witch hazel, with prices varying depending on the size and concentration of the plants and the accessibility of the property[1].
- Product Pricing: The final product, such as GNP Witch Hazel Liquid USP, is priced around $4.39 for a 12x16oz package, reflecting the costs of raw materials, processing, and distribution[5].
Price Projections
While specific long-term price projections for GNP Witch Hazel are not readily available, we can infer potential trends based on broader market analyses:
- Increasing Demand: Given the steady increase in demand for natural skincare and pharmaceutical products, it is likely that the price of witch hazel will remain stable or increase slightly over the next few years[1][3].
- Market Fluctuations: Market conditions, such as changes in supply and demand, can cause fluctuations in the price. However, the sustainable forest management practices and the consistent demand are expected to stabilize prices[1].
Sustainability and Forest Management
The sustainability of witch hazel production is a critical factor in maintaining stable prices. Forest management activities, such as thinning and harvesting, are designed to be sustainable, allowing for the continuous growth of new witch hazel plants. This approach not only ensures a steady supply but also generates supplemental income for landowners, encouraging them to retain and manage forestland[1].
Regulatory and Safety Considerations
Regulatory bodies and safety assessments also impact the pricing and availability of witch hazel products. For instance, the Safety Assessment Panel has clarified the maximum concentration of use for witch hazel extract in cosmetic formulations, ensuring that the product is safe and non-irritating when used correctly[4].
Key Takeaways
- Stable Demand: The demand for witch hazel is expected to remain stable due to its widespread use in cosmetics and pharmaceuticals.
- Sustainable Production: Sustainable forest management practices ensure a continuous supply of raw materials.
- Market Fluctuations: Prices can fluctuate based on market conditions, but overall trends suggest stability.
- Regulatory Compliance: Adherence to safety and regulatory standards is crucial for maintaining market confidence and stable pricing.
FAQs
1. What are the primary uses of witch hazel? Witch hazel is primarily used in skincare products for its astringent and soothing properties, as well as in pharmaceuticals for treating various skin conditions.
2. How is witch hazel harvested and processed? Witch hazel is harvested from the late fall through the winter, when the concentrations of tannin in the bark and twigs are highest. The harvested material is chipped, steamed to produce a distillate, filtered, and preserved with alcohol[1].
3. What factors influence the price of witch hazel? The price of witch hazel is influenced by the size and concentration of the plants, accessibility of the property, market conditions, and the costs associated with processing and manufacturing[1].
4. Is witch hazel production sustainable? Yes, witch hazel production is sustainable due to forest management practices that allow for the continuous growth of new plants after harvesting[1].
5. Are there any regulatory considerations for witch hazel products? Yes, regulatory bodies have established safety assessments and maximum concentration limits for the use of witch hazel extract in cosmetic formulations to ensure safety and non-irritation[4].
Sources
- WITCH HAZEL - Rhode Island Department of Environmental Management[1]
- Genie Protocol Price Prediction for 2024 - 2025 - 2040 - 2050 - Bitscreener[2]
- Vizient projects drug price inflation at 3.81% - Vizient Inc.[3]
- Safety Assessment of Hamamelis virginiana (Witch Hazel) - CIR Safety[4]
- GNP WITCH HAZEL LIQ USP 12X16OZ - Advanced Care[5]
More… ↓
