Global Biguanide Market Size, Industry Share, Growth & Forecast To 2020-2026

Biguanide drugs market is anticipated to grow at a considerable CAGR of more than 7.0% during the forecast period 2020-2026. Metformin IR (immediate release) and Metformin ER (Extended-release) are the most common biguanide in the global market. The growth in the patient pool of type 2 diabetes, increasing diagnosis rate in the emerging economies, increasing healthcare expenditure by individuals are some of the major factors which provide a significant opportunity for the companies to enter the market. As per the International Diabetes Federation (IDF), the global prevalence of diabetes in the age group of 20-79 years was 463 million in 2019. The number is expected to reach 578 million by 2030. A large share of this patient pool will be in emerging economies of Asia-Pacific, Latin America, and Middle East & Africa.

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Global biguanide is a fragmented market as metformin is the first-line drug for the management of type 2 diabetes. Due to this, a large number of big as well as small pharmaceutical players are active in the global market. The growth in the patient pool of type 2 diabetes, increasing diagnosis rate in the emerging economies, increasing healthcare expenditure by individuals are some of the major factors which provide a significant opportunity for the new players to enter the market. Some of the major factor active in the biguanide industry 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.

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Multiple activities can be tracked in the biguanide market in a couple of years. In May 2020, Cadila Healthcare Ltd. got the US FDA approval to market Empagliflozin and Metformin Hydrochloride Tablets, 5 mg/500 mg, 5 mg/1000 mg, 12.5 mg/500 mg, and 12.5 mg/1000 mg for the treatment of type 2 diabetes. In December 2019, USV Pvt. Ltd. announced to acquire the trademark ‘JALRA’, the anti-diabetic drug from Novartis AG. With this brand acquisition, USV now owns the trademark and strengthened its already strong foothold in the Indian oral anti-diabetic product landscape. In the same month, Eris Lifesciences completed the acquisition of trademark for anti-diabetes drug Zomelis from Novartis AG, for a consideration of $13 million.

Global Biguanide Drugs Market- Segmentation

By Type

Metformin IR
Metformin ER
Other Biguanide

By Dosage Form

Tablet
Solution

Global Biguanide Drugs Market– Segment by Region

North America

US
Canada

Europe

Germany
UK
France
Spain
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
Rest of Asia-Pacific

Rest of the World

Latin America
Middle East and Africa

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