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Biguanides Market – Segmented by Drugs, and Geography – Growth, Trends, and Forecast (2020 - 2025)

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Biguanides are one among the most consumed oral anti-diabetic drugs. The prominent driver for the growth of the biguanides market is significant growth in the global type 2 diabetic population. The drug is most preferred due to its low cost when compared to other diabetic drugs. Metformin is the active pharmaceutical ingredient for the biguanide class of drugs. The biguanides market is expected to witness a growth of about 15.3% from 2018 to 2023. The global biguanides market is expected to reach USD 4.4 billion by 2023.

Metformin helps in controlling high blood sugar levels for patients with type 2 diabetes. Thus preventing kidney damage, blindness, nerve problems, loss of limbs, and other functional problems. The drugs main functions include restoring the body’s proper response to the insulin and decreasing the amount of sugar that is produced by the liver which in turn the stomach/intestines absorb.

The market for biguanides is directly proportional to the growing type 2 diabetic population. In most of the cases, biguanides are the first line of drugs prescribed for type 2 patients. Over the years the global diabetic population increased tremendously and type 2 population accounts for almost 90% of the diabetic population. The growth in the global diabetes population is due to it being a lifestyle disease. Another factor boosting the growth of biguanides market is that the drug is generic which leads to increase its availability and affordability for patients.

Asia-pacific region accounts for the largest type 2 diabetic population. Thus the sales of metformin are high in these regions.  The Republic of China has one of the largest type 2 population in the world. The type 2 population would increase from 103.08 million to 120.37 million by 2023. The market for biguanides in China is USD 1043.71 million in 2018 and is expected to reach USD 1169.12 million by 2023. 

                      

Source: Mordor Intelligence Analysis

Key Players: Mylan, Teva, Takeda, Ranbaxy/Sun Pharma, Actavis, GlaxoSmithKline, Merck, Bristol-Myers Squibb, Boehringer Ingelheim Pharmaceuticals

Key Developments:

June 2018: According to recent scientific studies it is stated that metformin, which has always been a longtime and low-cost drug used to treat diabetes, is safe for most patients who also have chronic kidney disease. This is expected to further boost the sales of the drug.

Dec 2017: Metformin which is considered to be the first line of drugs for diabetics is now also found safe in pregnant women with diabetics. 

Report Scope:

Attribute

Details

Base year for estimation

2017

Review Period

2012-2017

Forecast Period

2018 – 2023

Market Representation

Revenue in USD million and CAGR from 2018 – 2023

Regions covered

Global

Report coverage

Revenue forecast and market dynamics

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1. Introduction

               1.1 Scope of Study

               1.2 Market Definition

               1.3 Executive Summary

2. Research Methodology

               2.1 Study Deliverables

               2.2 Study Assumptions

               2.3 Research Phases

3. Market Insights

               3.1 Technology Trends

               3.2 Industry Attractiveness - Porter's Five Forces Analysis

                              3.2.1 Bargaining Power of the Suppliers

                              3.2.2 Bargaining Power of the Consumers

                              3.2.3 Threat of New Entrants

                              3.2.4 Threat of Substitute Products and Services

                              3.2.5 Competitive Rivalry within the Industry

4.  Market Dynamics

               4.1 Drivers

               4.2 Restraints

               4.3 Opportunities

5. Market Indicators

               5.1 Total Diabetes Population

               5.2 Type 2 Diabetes Population

6. Market Segmentation and Analysis

               6.1 By Drug

                              6.1.1 Metformin

                                             6.1.1.1 Metformin, Revenue (2012-2023)

                                             6.1.1.2 Metformin, Volume (2012-2023)

7. Global Market Analysis

               7.1 North America

                              7.1.1 United States of America

                                             7.1.1.1 United States of America, Revenue (2012-2023)

                                             7.1.1.2 United States of America, Volume (2012-2023)

                              7.1.2 Canada

                                             7.1.2.1 Canada, Revenue (2012-2023)

                                             7.1.2.2 Canada, Volume (2012-2023)

               7.2 Europe

                              7.2.1 Germany

                                             7.2.1.1 Germany, Revenue (2012-2023)

                                             7.2.1.2 Germany, Volume (2012-2023)

                              7.2.2 Spain

                                             7.2.2.1 Spain, Revenue (2012-2023)

                                             7.2.2.2 Spain, Volume (2012-2023)

                              7.2.3 Italy

                                             7.2.3.1 Italy, Revenue (2012-2023)

                                             7.2.3.2 Italy, Volume (2012-2023)

                              7.2.4 France

                                             7.2.4.1 France, Revenue (2012-2023)

                                             7.2.4.2 France, Volume (2012-2023)

                              7.2.5 United Kingdom

                                             7.2.5.1 United Kingdom, Revenue (2012-2023)

                                             7.2.5.2 United Kingdom, Volume (2012-2023)

                              7.2.6 Russia

                                             7.2.6.1 Russia, Revenue (2012-2023)

                                             7.2.6.2 Russia, Volume (2012-2023)

                              7.2.7 Rest of Europe

                                             7.2.7.1 Rest of Europe, Revenue (2012-2023)

                                             7.2.7.2 Rest of Europe, Volume (2012-2023)

               7.3 Asia pacific

                              7.3.1 Australia

                                             7.3.1.1 Australia, Revenue (2012-2023)

                                             7.3.1.2 Australia, Volume (2012-2023)

                              7.3.2 India

                                             7.3.2.1 India, Revenue (2012-2023)

                                             7.3.2.2 India, Volume (2012-2023)

                              7.3.3 Indonesia

                                             7.3.3.1 Indonesia, Revenue (2012-2023)

                                             7.3.3.2 Indonesia, Volume (2012-2023)

                              7.3.4 Thailand

                                             7.3.4.1 Thailand, Revenue (2012-2023)

                                             7.3.4.2 Thailand, Volume (2012-2023)

                              7.3.5 Philippines

                                             7.3.5.1 Philippines, Revenue (2012-2023)

                                             7.3.5.2 Philippines, Volume (2012-2023)

                              7.3.6 Vietnam

                                             7.3.6.1 Vietnam, Revenue (2012-2023)

                                             7.3.6.2 Vietnam, Volume (2012-2023)

                              7.3.7 China

                                             7.3.7.1 China, Revenue (2012-2023)

                                             7.3.7.2 China, Volume (2012-2023)

                              7.3.8 South Korea

                                             7.3.8.1 South Korea, Revenue (2012-2023)

                                             7.3.8.2 South Korea, Volume (2012-2023)

                              7.3.9 Japan

                                             7.3.9.1 Japan, Revenue (2012-2023)

                                             7.3.9.2 Japan, Volume (2012-2023)

                              7.3.10 Malaysia

                                             7.3.10.1 Malaysia, Revenue (2012-2023)

                                             7.3.10.2 Malaysia, Volume (2012-2023)

                              7.3.11 Rest of Asia pacific

                                             7.3.11.1 Rest of Asia pacific, Revenue (2012-2023)

                                             7.3.11.2 Rest of Asia pacific, Volume (2012-2023)

               7.4 Middle East & Africa

                              7.4.1 South Africa

                                             7.4.1.1 South Africa, Revenue (2012-2023)

                                             7.4.1.2 South Africa, Volume (2012-2023)

                              7.4.2 Saudi Arabia

                                             7.4.2.1 Saudi Arabia, Revenue (2012-2023)

                                             7.4.2.2 Saudi Arabia, Volume (2012-2023)

                              7.4.3 Oman

                                             7.4.3.1 Oman, Revenue (2012-2023)

                                             7.4.3.2 Oman, Volume (2012-2023)

                              7.4.4 Egypt

                                             7.4.4.1 Egypt, Revenue (2012-2023)

                                             7.4.4.2 Egypt, Volume (2012-2023)

                              7.4.5 Iran

                                             7.4.5.1 Iran, Revenue (2012-2023)

                                             7.4.5.2 Iran, Volume (2012-2023)

                              7.4.6 Rest of Middle East & Africa

                                             7.4.6.1 Rest of Middle East & Africa, Revenue (2012-2023)

                                             7.4.6.2 Rest of Middle East & Africa, Volume (2012-2023)

               7.5 Latin America

                              7.5.1 Brazil

                                             7.5.1.1 Brazil, Revenue (2012-2023)

                                             7.5.1.2 Brazil, Volume (2012-2023)

                              7.5.2 Mexico

                                             7.5.2.1 Mexico, Revenue (2012-2023)

                                             7.5.2.2 Mexico, Volume (2012-2023)

                              7.5.3 Rest of Latin America

                                             7.5.3.1 Rest of Latin America, Revenue (2012-2023)

                                             7.5.3.2 Rest of Latin America, Volume (2012-2023)

8. Key Player Profiles

               8.1 Bayer

               8.2 Mylan

               8.3 Teva

               8.4 Takeda

               8.5 Ranbaxy/Sun Pharma

               8.6 Actavis

               8.7 GlaxoSmithKline

               8.8 Merck

               8.9 Bristol-Myers Squibb

               8.10 Boehringer Ingelheim Pharmaceuticals

* Each Company Profile include overview, Revenue, Product and services, Swot, Recent Activities and strategic Analysis.

 

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