The outburst of the Coronavirus disease happened in the city of Wuhan, China in December 2019. Since then, COVID-19 spread dreadfully all over the world at a rapid speed affecting a large number of individuals with the disease. This pandemic created problems for many drugs, medical equipment, and device manufacturing companies including market players which contributed to providing laxative/constipation products, as different kinds of policies have been adopted by different companies across the globe for carrying forward the manufacturing processes.
Impact on Price
COVID 19 claimed a considerable number of lives worldwide. This is a concern in countries where there have been high patient co-payments and an appreciable number of families going into poverty when members become ill. Consequently, there is a need to review prices and availability of pharmaceutical products during the COVID 19 pandemic to provide future direction.
The pandemic has impacted on utilization and prices of pertinent medicines and products but moderated by increased scrutiny. Key stakeholder groups can play a role in enhancing evidence-based approaches and reducing inappropriate purchasing in the future.
For instance,
- In September 2019, Nirav Patel, owner of Mangalmurti Psyllium Industries, bought into notice that the price of psyllium husk popular as ‘isabgol’ in India is rising in the spot and futures markets because of low production, and traders said the rates in the ahead would depend on purchases by big companies including ITC, Dabur, Perrigo Company and Proctor & Gamble. India is the largest exporter of psyllium, which has a huge market in the US, China, Japan, and Australia. Spot prices range from Rs 83/kg to Rs 85/kg, while during COVID prices for delivery were between Rs 92/kg and Rs 93/kg
As this lockdown has put manufacturers and distributors in worry as the key materials for the product, especially raw material supply are hindered, it will surely lead to a rise in prices.
Impact On Demand
The colon has its circadian rhythm that can be disrupted by lack of physical activity, poor sleep, changed eating habits, stress, and no sleep schedule. In addition, staying at home due to the global pandemic has affected each of these elements. Not moving enough, eating junk, eating too much, not following the usual routine, all of this decrease the colonic mobility (a process by which the colon sequentially contracts to propel feces along). This has increased the demand for products treating constipation, laxative products.
The pandemic has caused major destruction in the delivery of healthcare products across the world. It has posed limitations on many patients to access standard health services such as visits to healthcare professionals, medications, and diagnosis. It has adversely impacted the ability of patients and practitioners to adhere to treatment guidelines. Moreover, the high demand for laxative products and growing awareness about current and new products is also fueling the laxative market.
For instance,
- In December 2020, according to the ‘All India Trade Survey of Prioritised Medicinal Plants, 2019’, demand for a high-value medicinal plant such as Senna Makki increased by 50%, while the availability declined by 26% during COVID 19. The United States Food and Foreign Drug Administration (FDA) has allowed Senna Makki to be used as an over-the-counter drug in case of digestive disorders, such as chronic constipation, hemorrhoids, and irritable bowel syndrome, as it causes the laxative action by influencing the transport of water and electrolytes
- In August 2020, the Medicines and Healthcare Products Regulatory Agency (MHRA) in the UK proposed into their drug safety update that over-the-counter laxatives for adolescents aged 12 to 17 years can now only be supplied under the supervision of a pharmacist. Large packs of stimulant laxatives can no longer be bought from general retail stores, with those on the general sales list to only be sold in packs of 20 standard-strength or 10 maximum-strength tablets to patients aged 18 years and older
This shows that the initiatives taken by the government and companies are helping to tackle this COVID-19 situation as products are made available and the situation is likely to get better in the future.
Impact on Supply Chain
COVID 19 has led to a disruption in the supply chain of products. Due to the current pandemic situation, many interventions were canceled or paused to reduce the risk of exposing people to COVID19 and support the hospital, physician, and over-the-counter care required to deal with the pandemic. People who have not received usual interventions or whose planned care has been paused, may have experienced further deterioration in their function.
Lockdown policies in different countries have resulted in the closing of product providers, decreasing walk-in customers to prevent the spread of the disease. This lead to a significant delay in the supply of the product. Also, during the lockdown period, the market for online delivery of products has seen a rise, which is normal considering the situation. The leading companies of the laxative market across the world have taken strategic steps to properly supply their products to people across the world.
For instance,
- In April 2020, according to Indian Drug Manufacturers Association (IDMA), Vice-Chairman, T Sathish, the pharma sector in the country has been hit by a shortage of workforce, packaging materials, and transport due to the COVID-19 lockdown. This has led to a shortage of product packaging materials for laxatives and had made matters worse for the pharmaceutical companies. To ensure the supply chain was not disrupted he urged the government to permit the supporting industry to function too
This shows that even if the COVID 19 situation is disrupting the supply chain of products, the initiatives taken by the government and different companies are creating hope for the proper supply and use of products available.
STRATEGIC DECISIONS FOR MANUFACTURERS
COVID-19 can hamper the supply and use of products but it also provides the companies with a chance to improve their business by different means. As a pharmaceutical company always does, it tends to find out newer and better ways to treat a disease, the same is the case with laxative products for constipation. Always bringing out better solutions in the market will increase their business efficiency.
For instance,
- In 2020, in the US, companies with direct exposure to the COVID-19 outbreak are taking several actions including transporting available inventory to areas away from quarantine zones and near ports where it can be accessed for shipping, buying ahead to procure inventory, and raw material that is in short supply in impacted areas, activating pre-approved raw-material substitutions in places where the primary supplier is impacted but a secondary supplier is not, updating customers about delays and adjusting customer allocations to optimize profits on near-term revenue or to meet contractual terms and shaping demand by offering a discount on the available inventory in cases where supply may be short for late winter-early spring fulfillment optimizing near-term revenue
This signifies that despite this COVID 19 situation, different strategic decisions are being made by the companies that will make their business grow.
Conclusion
As this pandemic situation has resulted in many restrictions in different places around the world, still the market players of laxative products were able to manage their product stock. Different companies dealing in laxatives were finding out their way to deal with this pandemic situation. The government and companies around the globe are working together and have issued advice for those undergoing constipation treatment during these unprecedented times during COVID-19 lockdown around the world.
The supply chain was destroyed but several steps were taken by the government as well as companies, which will help them to get their needed output for the product. By increasing the material price, the companies can maintain their overall revenue. Thus, different companies in the laxative market are finding out their ways to deal with this pandemic situation.
