HS Code:
The 'Containing pantoprazole or its salts' category falls under the Harmonized System (HS) Code related to pharmaceutical products, specifically under HS Code 2933.99, which includes heterocyclic compounds with nitrogen hetero-atom(s) only, often used for medicinal purposes. Pantoprazole is a proton pump inhibitor used to treat conditions such as gastroesophageal reflux disease (GERD) and ulcers by reducing stomach acid production. This category includes raw materials, active pharmaceutical ingredients (APIs), and finished pharmaceutical products containing pantoprazole or its salts. It is a critical segment in the global pharmaceutical trade due to the widespread prevalence of gastrointestinal disorders and the growing demand for effective treatments.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database & International Trade Centre (ITC)
$450 million USD
37.5% of total trade of total trade
Increasing
$300 million USD
25.0% of total trade of total trade
Stable
$200 million USD
16.7% of total trade of total trade
Increasing
$150 million USD
12.5% of total trade of total trade
Stable
$100 million USD
8.3% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
10% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-India FTA for specific partners)
Rising demand for generic pantoprazole formulations
Increased trade volume from countries like India and China due to cost-effective production and patent expirations of branded drugs.
2021-2022
Growing prevalence of gastrointestinal disorders
Higher global demand for pantoprazole-based medications, particularly in aging populations in Europe and North America.
2020-2022
Shift toward API exports from Asia
Countries like India and China dominate the supply of pantoprazole APIs, reducing dependency on Western manufacturers.
2019-2022
India introduced incentives for API and generic drug exports, including pantoprazole, under the Production Linked Incentive (PLI) scheme to boost domestic manufacturing.
March 2022
Expected to increase India's share in global pantoprazole trade by 10-15% over the next 5 years.
The European Union implemented stricter guidelines for the import of pharmaceutical ingredients, requiring additional compliance certifications for pantoprazole suppliers.
January 2023
May lead to short-term trade disruptions but ensures higher quality standards in the long run.
A new phase of trade negotiations reduced tariffs on certain pharmaceutical intermediates, including pantoprazole salts, between the US and China.
October 2022
Likely to boost Chinese exports of pantoprazole intermediates to the US market by 5-8% annually.