The global biguanide market is forecast to grow at a CAGR of more than 7% rate during the forecast period 2020-2026. Biguanide is a drug for the treatment of type 2 diabetes. Till now, Metformin is the most common biguanide available in the global market for the management of type 2 diabetes. Generally, it is used as a first-line treatment for type 2 diabetes.
Rise in the global incidence of type 2 diabetes is the major factor for the increase in demand for the biguanide during the forecast period. As per the International Diabetes Federation (IDF), the global prevalence of diabetes in the age group of 20-79 years is expected to reach 578 million by 2030 as compared to 463 million in 2019. In addition, the low cost of the drug, increasing the diagnosis rate of type 2 diabetes, increasing healthcare expenditure is also augmenting the biguanide market. However, the presence of alternatives for managing type 2 diabetes, and metformin recall by the companies due to some faults are some of the major challenging factors for the market growth.
The global biguanide market is divided into type and dosage form. By type, the market is further segmented into Metformin IR, Metformin ER, and other biguanide. Metformin ER is expected to showcase significant growth during the forecast period. On the basis of dosage form, the market is segmented into tablets and solutions. Tablet holds a major market share during the forecast period. Moreover, based on geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is anticipated to hold the major market share during the forecast period. Moreover, Asia-Pacific is expected to show a significant growth rate during the forecast period.
Key companies operating in the market include BOEHRINGER Ingelheim International GmbH, Merck & Co., Inc., Lupin, Ltd., Bristol-Myers Squibb Co., Teva Pharmaceutical Industries Ltd., Glenmark Pharmaceuticals, Ltd., Harman Finochem Ltd., Aarti Drugs Ltd., USV Pvt. Ltd., Mylan N.V., Apotex Corp. among others. These companies are adopting various growth strategies to gain a competitive edge in the market which include mergers & acquisitions, product launches, and partnerships & collaborations.
The Report Covers
- Comprehensive research methodology of the Global Biguanide Market.
- A detailed and extensive market overview with key analyst insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Global Biguanide Market.
- Insights about market determinants which are stimulating the Global Biguanide Market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- Extensive profiles and recent developments of market players.
Key Topics Covered:
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdowns
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Company Share Analysis
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. Merck & Co., Inc.
126.96.36.199. Financial Analysis
188.8.131.52. SWOT Analysis
184.108.40.206. Recent Developments
3.3.2. Harman Finochem Ltd.
220.127.116.11. Financial Analysis
18.104.22.168. SWOT Analysis
22.214.171.124. Recent Developments
3.3.3. Bristol-Myers Squibb Co.
126.96.36.199. Financial Analysis
188.8.131.52. SWOT Analysis
184.108.40.206. Recent Developments
3.3.4. Teva Pharmaceutical Industries Ltd
220.127.116.11. Financial Analysis
18.104.22.168. SWOT Analysis
22.214.171.124. Recent Developments
4. Market Determinants
5. Market Segmentation
5.1. Global Biguanide Market by Type
5.1.1. Metformin IR (Immediate-Release)
5.1.2. Metformin ER (Extended Release)
5.1.3. Other Biguanide (Buformin, Phenformin, Chlorproguanil, Chloroguanide)
5.2. Global Biguanide Market by Dosage Form
6. Regional Analysis
6.1. North America
6.1.1. United States
6.2.6. Rest of Europe
6.3.4. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Aarti Drugs Ltd.
7.2. Amneal Pharmaceuticals, Inc.
7.3. Apotex Corp.
7.4. AstraZeneca PLC
7.5. BOEHRINGER Ingelheim International GmbH
7.6. Bristol-Myers Squibb Co.
7.7. Cadila Healthcare Ltd.
7.8. Dr. Reddy's Laboratories, Inc.
7.9. Eli Lilly and Co.
7.10. Glenmark Pharmaceuticals, Ltd.
7.11. Harman Finochem Ltd.
7.12. Lupin, Ltd.
7.13. Marksans Pharma Ltd.
7.14. Merck & Co., Inc.
7.15. Mylan N.V.
7.16. Novartis AG
7.17. Shandong Keyuan Pharmaceutical Co., Ltd.
7.18. Teva Pharmaceutical Industries Ltd
7.19. USV Pvt. Ltd.
7.20. Vistin Pharma ASA
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