Biguanides Market 2025-2032: Emerging Trends, Growth Opportunities, Growth And Business Strategies | Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company

Global Biguanides Market Size, Status, and forecast for the 2025-2032. The research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Biguanides Market industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data. Additionally, the report includes upstream and downstream analyses of key players, as well as global certainties and assurances. The report evaluates dynamic aspects such as forecast market information, Porter's Five Forces Analysis, sales estimates, wide product portfolio, market scenarios, and possibility studies.

The Biguanides Market size is estimated at USD 5.32 billion in 2025, and is expected to reach USD 5.89 billion by 2032, at a CAGR of 2.08% during the forecast period (2025-2032).

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Biguanides Market Trends

The increasing prevalence of diabetes globally, driven by factors such as sedentary lifestyles, poor dietary habits, and aging populations, continues to fuel the demand for biguanide. For instance, according to International Diabetes Federation 2021, in Europe 61 million individuals were affected with diabetes and 1.1 million deaths were reported due to it. Thus, such high number of diabetic patients and increased mortality drives the market expansion.

Furthermore, over 90% of people with diabetes have type 2 diabetes. Biguanides, particularly metformin, remain a preferred first-line treatment for type 2 diabetes due to their efficacy, safety profile, and cost-effectiveness. This preference is likely to persist, contributing to sustained demand for biguanide medications.

Major Players in Biguanides Markets are:

Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, Cipla Ltd., GlaxoSmithKline plc, Glenmark Pharmaceuticals Ltd., Merck & Co., Inc., Sanofi, Takeda Pharmaceutical Company Limited., Teva Pharmaceuticals Industries Ltd.

Industry News:

In February 2023, Zydus Lifesciences Limited received tentative approval from the U.S. Food and Drug Administration for canagliflozin and metformin hydrochloride tablets. This approval helped the company broaden its product offerings.

In August 2023, Dr. Reddy's Laboratories announced launch of Saxagliptin and Metformin hydrochloride extended-release tablets in U.S. The launch helped the company to strengthen its product portfolio and boost its revenue.

February 2022: Merck announced in a European work sharing procedure (WSP) an extension to the label for metformin products in the European Union: Glucophage (metformin hydrochloride immediate release), Glucophage XR (metformin HCL extended release), and Stagid (metformin embonate immediate release) for use throughout pregnancy. The approval was granted based on Merck's own safety cohort study, CLUE, and a large body of published evidence.

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Global Biguanides Market Segmentation:

Biguanides Market, By Drug Type
Branded
Generic

Biguanides Market, By Dosage Form
Tablets
Oral solutions

Biguanides Market, By Formulation
Immediate release
Extended release

Biguanides Market, By Distribution Channel
Hospital pharmacies
Retail pharmacies
Online pharmacies

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The following areas and countries are covered in the worldwide Biguanides Market file:

North America (US, Canada, Mexico)
Europe (Germany, France, UK, Russia, Italy)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE), Egypt, Nigeria, and South Korea)

North America dominated the market in 2023. This is due to the increasing prevalence of diabetic population in the region. According to the CDC, approximately 37.3 million people in the U.S. had diabetes in 2022, with 28.7 million diagnosed and 8.5 million undiagnosed cases. Furthermore, about 96 million people aged 18 years and older have prediabetes. Asia Pacific is expected to witness significant growth during the forecast period, owing to factors such as rising investments by the market players in the region, increasing number of collaborations for the development of biosimilars, geographic expansion of key players, and active participation of government & nonprofit organizations in the market space.

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