Biguanides Market Growth Accelerates: Strategic Forecast Predicts $5.81 Billion by 2029

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What Will the Biguanides Industry Market Size Be by 2025?
The market size of biguanides has experienced steady expansion in the past few years. The market, valued at $4.96 billion in 2024, is predicted to reach $5.11 billion in 2025, reflecting a compound annual growth rate (CAGR) of 3.1%. This growth throughout the historical period can be credited to factors such as increased demand for oral hypoglycemic medications, an aging population, a surge in obesity levels, and heightened consciousness about diabetes management.

What's the Long-Term Growth Forecast for the Biguanides Market Size Through 2029?
Anticipations forecast a consistent expansion in the biguanides market size in the upcoming years, culminating in a valuation of $5.81 billion in 2029 and a compound annual growth rate (CAGR) of 3.2%. The escalation in the forecast period is a consequence of the growing traction for combination therapies, drug delivery technology advancements, amplifying R&D investments, an upsurge in healthcare spending, and their extended use in treating polycystic ovary* syndrome. Expected trends for the forecast period include manifested emphasis on the development of extended-release formulas, a rising inclination towards fixed-dose combination therapies, the broadening of their scope in the oncology sector, along with the introduction of new biguanides boasting enhanced efficiency and safety.

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What Are the Key Growth Drivers Fueling the Biguanides Market Expansion?
The escalating occurrence of diabetes is predicted to fuel the expansion of the biguanides market. Diabetes is a persistent metabolic ailment marked by elevated blood sugar levels due to the inadequacy of the human body to generate sufficient insulin. Diabetes surge is triggered by numerous elements such as alterations in lifestyle, an aging population, genetic risk factors, refined detection methods, and environmental impacts. Biguanides, including metformin, lessen diabetes by enhancing insulin susceptibility, decreasing liver's glucose production, and slashing blood sugar levels in those with type 2 diabetes. For example, the UK's Office for Health Improvement & Disparities noted in March 2024 that between March 2022 and March 2023, the proportion of type 1 diabetes patients receiving all eight suggested care methods grew by 22%, and for those with type 2 diabetes, it rose by 21%. The percentage attaining the target HbA1c levels escalated to 37.9%, marking the maximum figure ever documented. Hence, the surge in diabetes prevalence is propelling the biguanides market's growth.

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What Are the Key Trends Driving Biguanides Market Growth?
Leading firms in the biguanide market are concentrating on creating innovative solutions including extended-release biguanide medications, to boost patient compliance, augment therapeutic efficiency, and curtail side effects. An extended-release biguanide is a specially formulated medication that slowly dispenses its active ingredient, ensuring consistent levels in the blood and improved glycemic control for those with diabetes, thus enhancing adherence to the regimen. For example, in August 2023, Dr. Reddy's Laboratories, a biotech firm based in India, introduced saxagliptin and metformin hydrochloride extended-release drugs. This is a generic version of KOMBIGLYZE XR, authorized by the US Food and Drug Administration (USFDA), which pairs up a DPP-4 inhibitor, saxagliptin, with a biguanide, metformin. It was created to augment glycemic control in adults diagnosed with type 2 diabetes and is meant to be used in conjunction with a healthy diet and regular exercise. This extended-release formulation enhances both patient compliance and effectiveness.

How Is the Biguanides Market Segmented?
The biguanides market covered in this report is segmented -

1) By Type: Metformin, Phenformin, Other Types
2) By Dosage Form: Tablets, Oral Solutions
3) By Formulation: Immediate Release, Extended Release
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies

Subsegments:
1) By Metformin: Immediate-Release Metformin, Extended-Release Metformin
2) By Phenformin: Phenformin Hydrochloride
3) By Other Types: Buformin, Metformin Combinations

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Which Companies Are Leading the Charge in Biguanides Market Innovation?
Major companies operating in the biguanides market are Cardinal Health Inc., Pfizer Inc., Merck And Co Inc., Bayer AG, Sanofi-Aventis LLC, AstraZeneca plc, Novartis AG, GlaxoSmithKline plc, Takeda Pharmaceuticals Company Limited, Novo Nordisk A/S, Viatris Inc., Daiichi Sankyo Company Limited, Wanbury Ltd., Boehringer Ingelheim International GmbH, Intas Pharmaceuticals Ltd., Aurobindo Pharma Ltd., Cipla Ltd., Shionogi & Co Ltd., Dr. Reddy's Laboratories, Lupin Limited, Zydus Lifesciences Limited, Apotex Inc., Torrent Pharmaceuticals Limited, Panacea Biotech Ltd., Auro Laboratories Limited

Which Regions Are Leading the Global Biguanides Market in Revenue?
Asia-Pacific was the largest region in the biguanides market in 2024. Middle East And Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the biguanides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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