Biguanide Market 2020-2026

Global Biguanide Market Size, Share & Trends Analysis Report, By Type (Metformin IR, Metformin ER, Other Biguanide), By Dosage Form (Tablet and Solution) and Forecast, 2020-2026.

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.

Research Methodology

The market study of the global Biguanide market is incorporated by extensive primary and secondary research conducted. Secondary research has been conducted to breakdown the market in the various segment, derive total market size, market forecast, and growth rates. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook.

In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts to amplify the added validity of the reports.

Secondary Sources Include

• Financial reports of companies involved in the market
• Authentic public databases
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

• Global Biguanide Market Research and Analysis, By Type
• Global Biguanide Market Research and Analysis, By Dosage Form

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.