The global Metformin Hydrochloride market was valued USD XX MN (by revenue) in 2019. The report foresees this market to reach USD XX MN by 2026 and register a CAGR of XX% from 2020 to 2026.
Metformin hydrochloride is an antihyperglycemic drug that improves glucose tolerance and has potential antineoplastic property. It is mainly used as a first-line medication to the treatment of type-2 diabetes. It is a white colored crystalline powder soluble in water but insoluble in acetone, ether and chloroform.
The market is primarily driven by rising population of type 2 diabetes across the globe. According to CDC, More than 34 million Americans have diabetes (about 1 in 10), and approximately 90-95% of them have type 2 diabetes. Type 2 diabetes most often develops in people over age 45. Apart from this, Childhood obesity rates are rising, and so are the rates of type 2 diabetes in youth. These are the factor that propel the demand. Other factors includes, growing working poplution and rising consumption of junk food coupled with improper diet plans amongs youth are projected to rise in diabetes, which,in turns, rising demand of metformin hydrochloride. However, side effects associated with the drug may hamper the market growth.
- Growing prevalence of diabetes
- Rising aged population
- Side effects associated with the drug
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis, and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of metformin hydrochloride.
The broad metformin hydrochloride market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Metformin HCl
- Metformin DC
- Metformin Hydrochloride Tablets
- Metformin Hydrochloride Extended-Release Tablets
- Others Form
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for metaformin hydrochloride in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Metformin Hydrochloride Market Size, Share Analysis Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the metformin hydrochloride market include Aarti Drugs, Bristol-Mayers Squibb, CR Double-Crane, FARMHISPANIA GROUP, Harman Finochem, Keyuan Pharmaceutical, Merck Sante, Shijiazhuang Polee Pharmaceutical, Shouguang Fukang Pharmaceutical, Taj API, TEVA, Vistin Pharma and Wanbury among others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
Manufacturing Cost Analysis
The Metformin hydrochloride Market Manufacturing Cost Analysis included in the report provides data on raw materials, labor cost and other manufacturing expenses. This analysis assists in cost management and cost regularizing as per the industry trends.
The detailed analysis of the marketing channel prominently used in Metformin hydrochloride market is also covered in the report. The data is covered as direct marketing, indirect marketing and marketing channel development trends.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.