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Drug Price Trends for FT MILK OF MAGNESIA SUSPENSION
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Average Pharmacy Cost for FT MILK OF MAGNESIA SUSPENSION
Drug Name | NDC | Price/Unit ($) | Unit | Date |
---|---|---|---|---|
FT MILK OF MAGNESIA SUSPENSION | 70677-1073-01 | 0.00960 | ML | 2025-01-22 |
FT MILK OF MAGNESIA SUSPENSION | 70677-1074-01 | 0.00960 | ML | 2025-01-22 |
FT MILK OF MAGNESIA SUSPENSION | 70677-1072-01 | 0.00960 | ML | 2025-01-22 |
FT MILK OF MAGNESIA SUSPENSION | 70677-1074-02 | 0.00657 | ML | 2025-01-22 |
FT MILK OF MAGNESIA SUSPENSION | 70677-1073-01 | 0.00968 | ML | 2024-12-18 |
FT MILK OF MAGNESIA SUSPENSION | 70677-1074-01 | 0.00968 | ML | 2024-12-18 |
>Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Market Analysis and Price Projections for Milk of Magnesia Suspension
Overview of Milk of Magnesia
Milk of Magnesia, also known as magnesium hydroxide, is a widely used antacid and laxative. It is commonly employed to treat constipation, indigestion, and heartburn. Here, we will delve into the market analysis and price projections for Milk of Magnesia suspension.
Market Size and Growth
The global magnesium hydroxide market, which includes Milk of Magnesia, is experiencing significant growth. As of 2022, the global magnesium hydroxide market was valued at approximately $773 billion and is projected to reach $1,319.6 billion by 2030, growing at a CAGR of 6.9% during the forecast period[1].
Impact of COVID-19
The COVID-19 pandemic had a negative impact on the magnesium hydroxide market, including Milk of Magnesia, due to strict lockdowns and social distancing measures that disrupted production and supply chains. However, as restrictions eased in 2021, the market began to recover, and growth has been steady since then[1][3][4].
Applications and Demand
Milk of Magnesia is part of a broader market that includes various applications such as:
Pharmaceutical Sector
The pharmaceutical sector is a significant driver for the demand of magnesium hydroxide. It is used as an antacid and laxative, and its demand is increasing due to the expanding healthcare needs globally[3].
Environmental Protection
Magnesium hydroxide is also used in environmental protection, particularly in wastewater treatment and flue gas desulphurization. This segment held the largest market share in 2022 and is expected to exhibit the highest CAGR during the forecast period[1].
Flame Retardants
The increasing use of magnesium hydroxide as a flame retardant to replace halogenated flame retardants, which are banned in many regions due to health concerns, is another key driver of the market[1].
Regional Insights
Asia Pacific
The Asia Pacific region dominates the global magnesium hydroxide market, with China and India being the largest consumers. This region is expected to maintain its dominance and experience the fastest growth rate due to technological developments and increasing demand[1].
North America
North America is also expected to experience significant growth, driven by numerous industry competitors and substantial research and development efforts[1].
Price Projections for Milk of Magnesia Suspension
The prices of Milk of Magnesia suspension can vary based on the quantity and concentration of the product.
Current Pricing
- The cost for Milk of Magnesia 8% oral suspension is around $10 for a supply of 355 milliliters. For larger quantities, such as 1000 milliliters of the 24% oral concentrate, the price can range from $304.75[2].
Future Pricing Trends
Given the overall growth of the magnesium hydroxide market, prices are likely to remain stable or see a slight increase due to rising demand and production costs. However, competition among manufacturers and the availability of generic versions may help keep prices in check.
Key Players and Market Competition
The global magnesium hydroxide market, including Milk of Magnesia, is highly competitive with several key players such as Nedmag Industries, Nabaltec AG, Huber Engineering Materials, and others. These companies are expanding their capacities and investing in research and development to meet the increasing demand[1].
Conclusion
The market for Milk of Magnesia suspension is part of the larger magnesium hydroxide market, which is experiencing robust growth driven by various industrial, pharmaceutical, and environmental applications. Despite the initial disruptions caused by the COVID-19 pandemic, the market has recovered and is projected to continue growing.
Key Takeaways
- The global magnesium hydroxide market is expected to reach $1,319.6 billion by 2030.
- The Asia Pacific region dominates the market and is expected to experience the fastest growth.
- Increasing demand from the pharmaceutical and environmental sectors is driving market growth.
- Prices for Milk of Magnesia suspension are expected to remain stable or see a slight increase due to rising demand and production costs.
FAQs
What is Milk of Magnesia used for?
Milk of Magnesia, or magnesium hydroxide, is commonly used as an antacid to treat heartburn and indigestion, and as a laxative to treat constipation[2].
How has the COVID-19 pandemic affected the magnesium hydroxide market?
The COVID-19 pandemic negatively impacted the market due to lockdowns and supply chain disruptions. However, the market has recovered since the easing of restrictions in 2021[1][3][4].
Which region dominates the global magnesium hydroxide market?
The Asia Pacific region, particularly China and India, dominates the global magnesium hydroxide market and is expected to maintain its dominance during the forecast period[1].
What are the primary drivers of the magnesium hydroxide market?
The primary drivers include increasing demand from the pharmaceutical sector, environmental protection, and the use of magnesium hydroxide as a flame retardant[1][3].
Are there any generic versions of Milk of Magnesia available?
Yes, generic versions of Milk of Magnesia are available, which can help keep prices competitive[2].
How is the price of Milk of Magnesia suspension expected to change in the future?
Prices are likely to remain stable or see a slight increase due to rising demand and production costs, but competition and generic versions may help keep prices in check[2].
Sources
- Coherent Market Insights: Magnesium Hydroxide Market Size, Trends and Forecast to 2030
- Drugs.com: Milk of Magnesia Prices, Coupons, Copay Cards & Patient Assistance
- Mordor Intelligence: Magnesium Hydroxide Market Size & Share Analysis - Growth Trends
- Maximize Market Research: Magnesium Hydroxide Market: Industry Analysis and Forecast 2030
- Lucintel: Magnesium Hydroxide Market Size, Share & Analysis to 2030
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