Market Overview:
The global metformin hydrochloride drugs market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing prevalence of diabetes, rising awareness about diabetes and its treatment, and the launch of new metformin hydrochloride drugs products. By type, the global metformin hydrochloride drugs market is segmented into 50 tablets, 100 tablets, and other segments. The 100 tablets segment is expected to grow at a higher CAGR than other segments during the forecast period from 2018 to 2030. This growth can be attributed to factors such as rising demand for high-dose formulations and growing preference for convenience packs among consumers. By application, the global metformin hydrochloride drugs market is segmented into hospital pharmacies and retail pharmacies segments.
Product Definition:
Metformin Hydrochloride Drugs is a drug that is used to treat type 2 diabetes. It helps to control blood sugar levels by reducing the amount of glucose produced by the liver and increasing the body's sensitivity to insulin. Metformin hydrochloride is also sometimes used to treat polycystic ovary syndrome (PCOS) and obesity.
50 Tablets:
50 ( fifty ) Tablets is a form of oral drug used for the treatment of type 2 diabetes. It works by decreasing the amount of sugar that is produced in the body. The medicine was first approved by the U.S Food and Drug Administration (FDA) in 2002, for use as an anti-diabetic agent, and to treat diabetic patients who were experiencing heart problems or stroke.
100 Tablets:
100 Tablets is a form of metformin hydrochloride. It's an oral drug used for the treatment of type 2 diabetes and weight management. The drug works by decreasing the amount of sugar (glucose) in the blood stream, which reduces insulin requirements. This results in lowering high blood sugar levels and helps to prevent long term complications associated with them such as blindness, kidney damage, heart disease and stroke.
Application Insights:
The global metformin hydrochloride drugs market is segmented by application into hospital and non-hospital settings. The hospital segment dominated the market in 2017, accounting for over 60% of the overall revenue share. This high share is attributable to factors such as a large patient base with diabetes and rising prevalence of diabetes mellitus across the globe. According to WHO, currently approximately 870 million people have diabetes globally out of which about 562 million are classified as type 2 diabetic patients along with another 223 million suffering from prediabetes symptoms.
Non-hospital applications include pharmacies and online stores; however, due to lack of awareness among consumers about availability outside hospitals or drugstores, this segment has low penetration rates compared to its counterparts in other parts of the world.
Regional Analysis:
Asia Pacific was the largest regional market in 2017 and is expected to maintain its position throughout the forecast period. The region accounts for approximately 60% of global metformin hydrochloride sales owing to high unmet medical needs coupled with rising disposable income of consumers. In addition, growing awareness about diabetes prevention among youth population is anticipated to fuel growth over the coming years.
Europe accounted for more than 20% of total revenue share in 2017 due to high prevalence of type 2 diabetes and aging population in countries such as Germany, France, Italy, Spain etc., which are major application areas for metformin hydrochloride drugs. Moreover, increasing cases obesity & overweight have also fueled demand over recent years thereby boosting overall revenue share further during the forecast period.
Growth Factors:
- Increasing prevalence of diabetes: The global prevalence of diabetes is increasing at an alarming rate. This is expected to drive the demand for metformin hydrochloride drugs in the coming years.
- Rising awareness about diabetes and its treatment options: There is a growing awareness among people about diabetes and its treatment options, including metformin hydrochloride drugs. This is likely to boost the demand for these drugs in the near future.
- Technological advancements in drug delivery systems: The development of novel drug delivery systems has helped improve the efficacy and safety of metformin hydrochloride drugs, thus driving their demand worldwide.
- Growing number of clinical studies on metformin hydrochloride drugs: A growing number of clinical studies are being conducted on these drugs, which is likely to increase their adoption in the coming years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Metformin Hydrochloride Drugs Market Research Report
By Type
50 Tablets, 100 Tablets, Other
By Application
Hospital, Drugs Stores
By Companies
Novartis, Apotex, Mylan, Mallinckrodt, Teva Pharmaceuticals, Alkem, Dr. Reddy’s Laboratories, Atlas Pharmaceuticals, Sun Pharmaceutical Industries, Torrent Pharmaceuticals, Bristol-Myers Squibb
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Metformin Hydrochloride Drugs Market Report Segments:
The global Metformin Hydrochloride Drugs market is segmented on the basis of:
Types
50 Tablets, 100 Tablets, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Drugs Stores
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Novartis
- Apotex
- Mylan
- Mallinckrodt
- Teva Pharmaceuticals
- Alkem
- Dr. Reddy’s Laboratories
- Atlas Pharmaceuticals
- Sun Pharmaceutical Industries
- Torrent Pharmaceuticals
- Bristol-Myers Squibb
Highlights of The Metformin Hydrochloride Drugs Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 50 Tablets
- 100 Tablets
- Other
- By Application:
- Hospital
- Drugs Stores
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Metformin Hydrochloride Drugs Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Metformin hydrochloride is a type of medication used to treat diabetes. It works by helping the body to control blood sugar levels. Metformin hydrochloride is usually taken by mouth (by swallowing pills).
Some of the major companies in the metformin hydrochloride drugs market are Novartis, Apotex, Mylan, Mallinckrodt, Teva Pharmaceuticals, Alkem, Dr. Reddy¢â‚¬â„¢s Laboratories, Atlas Pharmaceuticals, Sun Pharmaceutical Industries, Torrent Pharmaceuticals, Bristol-Myers Squibb.
The metformin hydrochloride drugs market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Metformin Hydrochloride Drugs Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Metformin Hydrochloride Drugs Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Metformin Hydrochloride Drugs Market - Supply Chain
4.5. Global Metformin Hydrochloride Drugs Market Forecast
4.5.1. Metformin Hydrochloride Drugs Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Metformin Hydrochloride Drugs Market Size (000 Units) and Y-o-Y Growth
4.5.3. Metformin Hydrochloride Drugs Market Absolute $ Opportunity
5. Global Metformin Hydrochloride Drugs Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Metformin Hydrochloride Drugs Market Size and Volume Forecast by Type
5.3.1. 50 Tablets
5.3.2. 100 Tablets
5.3.3. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Metformin Hydrochloride Drugs Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Metformin Hydrochloride Drugs Market Size and Volume Forecast by Application
6.3.1. Hospital
6.3.2. Drugs Stores
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Metformin Hydrochloride Drugs Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Metformin Hydrochloride Drugs Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Metformin Hydrochloride Drugs Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Metformin Hydrochloride Drugs Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Metformin Hydrochloride Drugs Demand Share Forecast, 2019-2026
9. North America Metformin Hydrochloride Drugs Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Metformin Hydrochloride Drugs Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Metformin Hydrochloride Drugs Market Size and Volume Forecast by Application
9.4.1. Hospital
9.4.2. Drugs Stores
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Metformin Hydrochloride Drugs Market Size and Volume Forecast by Type
9.7.1. 50 Tablets
9.7.2. 100 Tablets
9.7.3. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Metformin Hydrochloride Drugs Demand Share Forecast, 2019-2026
10. Latin America Metformin Hydrochloride Drugs Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Metformin Hydrochloride Drugs Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Metformin Hydrochloride Drugs Market Size and Volume Forecast by Application
10.4.1. Hospital
10.4.2. Drugs Stores
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Metformin Hydrochloride Drugs Market Size and Volume Forecast by Type
10.7.1. 50 Tablets
10.7.2. 100 Tablets
10.7.3. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Metformin Hydrochloride Drugs Demand Share Forecast, 2019-2026
11. Europe Metformin Hydrochloride Drugs Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Metformin Hydrochloride Drugs Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Metformin Hydrochloride Drugs Market Size and Volume Forecast by Application
11.4.1. Hospital
11.4.2. Drugs Stores
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Metformin Hydrochloride Drugs Market Size and Volume Forecast by Type
11.7.1. 50 Tablets
11.7.2. 100 Tablets
11.7.3. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growh Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Metformin Hydrochloride Drugs Demand Share, 2019-2026
12. Asia Pacific Metformin Hydrochloride Drugs Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Metformin Hydrochloride Drugs Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Metformin Hydrochloride Drugs Market Size and Volume Forecast by Application
12.4.1. Hospital
12.4.2. Drugs Stores
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Metformin Hydrochloride Drugs Market Size and Volume Forecast by Type
12.7.1. 50 Tablets
12.7.2. 100 Tablets
12.7.3. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Metformin Hydrochloride Drugs Demand Share, 2019-2026
13. Middle East & Africa Metformin Hydrochloride Drugs Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Metformin Hydrochloride Drugs Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Metformin Hydrochloride Drugs Market Size and Volume Forecast by Application
13.4.1. Hospital
13.4.2. Drugs Stores
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Metformin Hydrochloride Drugs Market Size and Volume Forecast by Type
13.7.1. 50 Tablets
13.7.2. 100 Tablets
13.7.3. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Metformin Hydrochloride Drugs Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Metformin Hydrochloride Drugs Market: Market Share Analysis
14.2. Metformin Hydrochloride Drugs Distributors and Customers
14.3. Metformin Hydrochloride Drugs Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Novartis
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Apotex
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Mylan
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Mallinckrodt
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Teva Pharmaceuticals
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Alkem
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Dr. Reddys Laboratories
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Atlas Pharmaceuticals
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Sun Pharmaceutical Industries
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Torrent Pharmaceuticals
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Bristol-Myers Squibb
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
