Market Overview:
The global metformin hydrochloride 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 technological advancements in the field of metformin hydrochloride tablets and extended-release tablets. However, patent expirations for certain blockbuster drugs is expected to restrain the growth of this market during the forecast period. Based on type, the global metformin hydrochloride market can be segmented into metformin HCL and metformin DC. The demand for both these types is expected to grow during the forecast period owing to their benefits over other types of medication available in the market for treating diabetes mellitus type 2 (DM2). Metformin HCL dominates this segment due its high efficacy and safety profile as compared with other medications used for DM2 treatment. It also has a longer half-life than most other oral antihyperglycemic agents which makes it an attractive option for patients with renal impairment or those who are elderly or frail.
Product Definition:
Metformin Hydrochloride is a medication used to treat type 2 diabetes. It works by decreasing the amount of sugar produced by the liver and increasing the body's response to insulin.
Metformin HCL:
Metformin HCL is a biguanide antidiabetic drug and works by decreasing the amount of sugar (glucose) in the body. It does this by reducing the production of insulin, which causes low blood sugar. Biguanides were first introduced to market more than 20 years ago and have been prescribed for type 2 diabetes ever since its approval.
Metformin DC:
Metformin DC is a form of the anti-diabetic drug, metformin hydrochloride. It is used in patients who are unable to access or unwilling to take oral medications. The medicine has been approved by the U.S Food and Drug Administration (FDA) for usage as an outpatient drug; it can be administered without a prescription and does not require any medical monitoring beyond standard patient screening for safety purposes.
Application Insights:
Metformin hydrochloride tablets were the largest application segment and accounted for a revenue share of around 78.0% in 2017. The tablets are available in 500 mg, 1000 mg, and 1500 mg doses; however, the highest market penetration is observed for metformin hydrochloride 500 mg tablets due to its lower cost as compared to other dosage forms. Moreover, increasing awareness about lifestyle disorders coupled with rising healthcare costs has led to an increased demand for metformin hydrochloride extended-release tablets over the past few years.
The others form segment includes sitagliptin phosphate capsules (GlaxoSmithKline) and saxagliptin capsule (Pfizer).
Regional Analysis:
Asia Pacific dominated the global metformin hydrochloride market in 2016 with a revenue share of over 45%. The region is expected to witness substantial growth during the forecast period. This can be attributed to increasing cases of diabetes and growing awareness about its treatment options. In addition, rising disposable income levels and improving standard of living are anticipated to contribute toward market growth in this region. Moreover, China is one of the largest markets for generic drugs due to regulatory reforms that have made it easier for manufacturers to start up operations in this country.
In Europe, brand name drugs such as Glucophage (metformin) Hydrochloride Tablets or Januvia (Janumet) once received U.
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 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. This is likely to boost the demand for this drug in the coming years.
- Growing use of metformin hydrochloride in combination therapy: Metformin hydrochloride is increasingly being used as a part of combination therapy for treating diabetes mellitus type 2 patients. This will fuel the growth of this market in the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Metformin Hydrochloride Market Research Report
By Type
Metformin HCL, Metformin DC, Others
By Application
Metformin Hydrochloride Tablets, Metformin Hydrochloride Extended-Release Tablets, Others form
By Companies
Wanbury, USV, Shouguang Fukang Pharmaceutical, Vistin Pharma, CR Double-Crane, Keyuan Pharmaceutical, Farmhispania Group, Harman Finochem, Shijiazhuang Polee Pharmaceutical, Aarti Drugs, Exemed Pharmaceuticals
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
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Metformin Hydrochloride Market Report Segments:
The global Metformin Hydrochloride market is segmented on the basis of:
Types
Metformin HCL, Metformin DC, Others
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
Metformin Hydrochloride Tablets, Metformin Hydrochloride Extended-Release Tablets, Others form
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:
- Wanbury
- USV
- Shouguang Fukang Pharmaceutical
- Vistin Pharma
- CR Double-Crane
- Keyuan Pharmaceutical
- Farmhispania Group
- Harman Finochem
- Shijiazhuang Polee Pharmaceutical
- Aarti Drugs
- Exemed Pharmaceuticals
Highlights of The Metformin Hydrochloride 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:
- Metformin HCL
- Metformin DC
- Others
- By Application:
- Metformin Hydrochloride Tablets
- Metformin Hydrochloride Extended-Release Tablets
- Others form
- 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 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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- Correctly Positioning New Products
- Market Entry Strategies
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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 diabetes medication that helps to control blood sugar levels. It works by helping the body to produce more insulin, which lowers blood sugar levels. Metformin is also known as Glucophage and Glumetza.
Some of the key players operating in the metformin hydrochloride market are Wanbury, USV, Shouguang Fukang Pharmaceutical, Vistin Pharma, CR Double-Crane, Keyuan Pharmaceutical, Farmhispania Group, Harman Finochem, Shijiazhuang Polee Pharmaceutical, Aarti Drugs, Exemed Pharmaceuticals.
The metformin hydrochloride 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 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 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 Market - Supply Chain
4.5. Global Metformin Hydrochloride Market Forecast
4.5.1. Metformin Hydrochloride Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Metformin Hydrochloride Market Size (000 Units) and Y-o-Y Growth
4.5.3. Metformin Hydrochloride Market Absolute $ Opportunity
5. Global Metformin Hydrochloride 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 Market Size and Volume Forecast by Type
5.3.1. Metformin HCL
5.3.2. Metformin DC
5.3.3. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Metformin Hydrochloride 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 Market Size and Volume Forecast by Application
6.3.1. Metformin Hydrochloride Tablets
6.3.2. Metformin Hydrochloride Extended-Release Tablets
6.3.3. Others form
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Metformin Hydrochloride 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 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 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 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 Demand Share Forecast, 2019-2026
9. North America Metformin Hydrochloride 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 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 Market Size and Volume Forecast by Application
9.4.1. Metformin Hydrochloride Tablets
9.4.2. Metformin Hydrochloride Extended-Release Tablets
9.4.3. Others form
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Metformin Hydrochloride Market Size and Volume Forecast by Type
9.7.1. Metformin HCL
9.7.2. Metformin DC
9.7.3. Others
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 Demand Share Forecast, 2019-2026
10. Latin America Metformin Hydrochloride 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 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 Market Size and Volume Forecast by Application
10.4.1. Metformin Hydrochloride Tablets
10.4.2. Metformin Hydrochloride Extended-Release Tablets
10.4.3. Others form
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Metformin Hydrochloride Market Size and Volume Forecast by Type
10.7.1. Metformin HCL
10.7.2. Metformin DC
10.7.3. Others
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 Demand Share Forecast, 2019-2026
11. Europe Metformin Hydrochloride 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 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 Market Size and Volume Forecast by Application
11.4.1. Metformin Hydrochloride Tablets
11.4.2. Metformin Hydrochloride Extended-Release Tablets
11.4.3. Others form
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Metformin Hydrochloride Market Size and Volume Forecast by Type
11.7.1. Metformin HCL
11.7.2. Metformin DC
11.7.3. Others
11.8. Basis Point Share (BPS) Anaysis by Type
11.9. Y-o-Y Growth 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 Demand Share, 2019-2026
12. Asia Pacific Metformin Hydrochloride 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 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 Market Size and Volume Forecast by Application
12.4.1. Metformin Hydrochloride Tablets
12.4.2. Metformin Hydrochloride Extended-Release Tablets
12.4.3. Others form
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Metformin Hydrochloride Market Size and Volume Forecast by Type
12.7.1. Metformin HCL
12.7.2. Metformin DC
12.7.3. Others
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 Demand Share, 2019-2026
13. Middle East & Africa Metformin Hydrochloride 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 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 Market Size and Volume Forecast by Application
13.4.1. Metformin Hydrochloride Tablets
13.4.2. Metformin Hydrochloride Extended-Release Tablets
13.4.3. Others form
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 Market Size and Volume Forecast by Type
13.7.1. Metformin HCL
13.7.2. Metformin DC
13.7.3. Others
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 Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Metformin Hydrochloride Market: Market Share Analysis
14.2. Metformin Hydrochloride Distributors and Customers
14.3. Metformin Hydrochloride Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Wanbury
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. USV
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Shouguang Fukang Pharmaceutical
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Vistin Pharma
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. CR Double-Crane
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Keyuan Pharmaceutical
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Farmhispania Group
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Harman Finochem
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Shijiazhuang Polee Pharmaceutical
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Aarti Drugs
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Exemed Pharmaceuticals
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
