HS Code:
Droperidol and Imipramine Hydrochloride fall under the category of pharmaceutical products, specifically psychotropic drugs and antidepressants, respectively. Droperidol is a potent antipsychotic used primarily as an antiemetic or for neuroleptanalgesia, while Imipramine Hydrochloride is a tricyclic antidepressant used to treat depression and other mood disorders. These products are classified under HS Code 3004 (Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses). They are critical in the healthcare sector, with demand driven by mental health treatment needs and hospital usage globally. Trade in these products is influenced by stringent regulatory requirements, patent protections, and the availability of generic alternatives.
Total Trade Volume
Approximately $250 million USD
Data from 2022
Source
United Nations Comtrade Database and World Trade Organization (WTO) Reports
$80 million USD
32% of total trade of total trade
Increasing
$50 million USD
20% of total trade of total trade
Stable
$30 million USD
12% of total trade of total trade
Increasing
$25 million USD
10% of total trade of total trade
Stable
$20 million USD
8% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
10% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-US trade pacts or WTO pharmaceutical agreements)
Rising demand for mental health treatments
Increased global trade volume as awareness and diagnosis of mental health disorders grow, especially in developed markets
2021-2022
Shift towards generic drugs
Reduced prices and higher trade volumes as patents for branded Droperidol and Imipramine expire, with India and China emerging as key suppliers
2020-2022
Stricter regulations on psychotropic drugs
Slower trade growth in some regions due to tightened controls on distribution and prescription of Droperidol
2019-2022
The US FDA issued updated guidelines on the use of Droperidol due to concerns over cardiac side effects, impacting its import and distribution.
March 2022
Potential short-term decline in US imports as manufacturers adapt to new labeling and usage restrictions
Negotiations between the EU and India include provisions to ease pharmaceutical trade barriers, potentially benefiting Imipramine Hydrochloride exports from India.
June 2023
Expected increase in trade volume between the regions with reduced tariffs and streamlined certification processes
China has ramped up production of generic antidepressants, including Imipramine Hydrochloride, to meet domestic and international demand.
September 2022
Increased competition in global markets, potentially lowering prices and affecting profit margins for other exporters