Biguanide Market 2021 Growth, COVID Impact, Trends Analysis Report 2027

 The biguanide drugs market is anticipated to grow at a considerable CAGR of more than 7.0% during the forecast period 2020-2026. Metformin IR (immediate release) and Metformin ER (Extended-release) are the most common biguanide in the global market. The growth in the patient pool of type 2 diabetes, increasing diagnosis rate in the emerging economies, increasing healthcare expenditure by individuals are some of the major factors which provide a significant opportunity for the companies to enter the market. As per the International Diabetes Federation (IDF), the global prevalence of diabetes in the age group of 20-79 years was 463 million in 2019. The number is expected to reach 578 million by 2030. A large share of this patient pool will be in emerging economies of Asia-Pacific, Latin America, and Middle East & Africa. 

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Some of the major factor active in the biguanide industry 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. 

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Global Biguanide Market – Segmentation

By Type 

  • Metformin IR 
  • Metformin ER
  • Other Biguanide

By Dosage Form 

  • Tablet 
  • Solution 

Global Biguanide Market – Segmentation by Region 

North America 

  • United States
  • Canada

Europe

  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • Rest of Europe

Asia-Pacific 

  • China
  • Japan
  • India
  • Rest of Asia-Pacific

Rest of the World

  • Middle East & Africa 
  • Latin America

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