Global Metformin Market, By Product Type (Standard-Release Tablets And Slow-Release Tablets), Dosage Type (500mg, 750mg, 850mg and 1g), End-Users (Clinics, Hospitals, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Peru, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Metformin market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market is growing at a CAGR of 6.00% in the above-mentioned research forecast period. Increase in aging population and rising global morbidity and mortality due to diabetes diseases.
Rising obesity and increasing adoption of changing lifestyle patterns also boost up the market growth. Moreover rising in government funding, increase in research and developmental activities and rising healthcare expenditure act as opportunity for the market growth. The high side effects associated with the drug, alternative treatment options, and strict regulatory framework may hamper the global metformin market.
Metformin medicine is used in combination with other medicine types to control high blood sugar and is a prescription medicine in patients suffering from type 2 diabetes. Metformin works by restoring the body’s proper response to the insulin produced by the human body. Moreover, it decreases the amount of sugar formed by the liver. By controlling the blood sugar level, metformin also prevents kidney damage, nerve problems, heart attack, stroke, blindness among other type 2 diabetes associated problems. According to WHO the prevalence of type 2 diabetes is increasing worldwide with reported 5% increase in premature mortality due to diabetes in between 2000 to 2016 and hence expected to provide market with the lucrative growth.
This metformin market provides details of market share, new developments and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Global Metformin Market Scope and Market Size
Metformin market is segmented on the basis of product type, dosage type, end-users and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the metformin market is segmented into standard-release tablets and slow-release tablets.
- On the basis of dosage type, the metformin market is segmented into 500mg, 750mg, 850mg, 1g.
- On the basis of end-users, the metformin market is segmented into clinics, hospitals, homecare, others.
- On the basis of distribution channel, the metformin market is segmented into hospital pharmacy, retail pharmacy, online pharmacy and others.
Metformin Market Country Level Analysis
Metformin market is analysed and market size information is provided by country, product type, dosage type, end-users and distribution channel as referenced above.
The countries covered in the metformin market report are U.S., Canada, Mexico in North America, Brazil, Argentina, Peru, Rest of South America, as part of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, Rest of Middle East and Africa, as a part of Middle East and Africa.
On geographical estimation, North America accounts for the largest market share due to continuous increase in patients suffering from diabetes, obesity among other diseases and rise in research and development activities and government funding. Europe is also expected to grow exponentially due to the enhanced distribution channel network and rising strategic initiatives by market players for business expansion. Asia-Pacific is expected to account for the largest market share due to increasing awareness about different diabetes types and the rising prevalence of chronic disease in emerging countries, including India and China.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Patient Epidemiology Analysis
Metformin market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analysis of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
Competitive Landscape and Metformin Market Share Analysis
Metformin market competitive landscape provides details by competitor details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Metformin market.
The major players covered in the metformin market are Bristol-Myers Squibb, Amneal Pharmaceuticals LLC., Apotex Inc., Accel Pharma Inc, TEVA Pharmaceutical Industries limited, Shionogi Inc., Sanofi Aventis, Auro Pharma Inc, Cardinal Health, Takeda Pharmaceutical Company Limited, MedPharm Ltd., GlaxoSmithKline plc, Mylan N.V., Nostrum Pharmaceuticals Inc, Sun Pharmaceutical Industries Ltd, Shouguang Fukang Pharmaceutical Co., Ltd., Shandong Keyuan Pharmaceutical Co, Ltd., Merck KGaA, Wnabury among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available: Global Metformin Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.°