The Biguanides Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments including By Type (Metformin, Phenformin), By Distribution Channel (Hospitals, Retail pharmacies, Others).
The Biguanides market in 2024 is characterized by robust growth driven by their widespread applications in pharmaceuticals, particularly as oral antihyperglycemic agents for managing type 2 diabetes. Biguanides, notably metformin, continue to be a cornerstone in diabetes management due to their efficacy, safety profile, and low cost. Additionally, ongoing research into their potential benefits in other therapeutic areas, such as cancer treatment and polycystic ovary syndrome, further fuels market expansion. Regulatory approvals for novel formulations and combination therapies underscore the dynamic landscape of this market, offering pharmaceutical companies opportunities for innovation and market penetration.
A prominent trend in the Biguanides market is the increasing preference for combination therapies, particularly in the treatment of type 2 diabetes mellitus (T2DM). Physicians are increasingly prescribing combination regimens that include biguanides along with other classes of antidiabetic medications such as sulfonylureas, DPP-4 inhibitors, SGLT2 inhibitors, and GLP-1 receptor agonists. Combination therapies offer synergistic effects, improved glycemic control, and reduced risk of hypoglycemia compared to monotherapy. This trend is driven by the need for more effective and personalized treatment strategies to address the complex nature of T2DM and improve patient outcomes.
The primary driver for the Biguanides market is the rising prevalence of type 2 diabetes mellitus (T2DM) globally. T2DM is a chronic metabolic disorder characterized by insulin resistance and relative insulin deficiency, and its prevalence is increasing due to factors such as sedentary lifestyles, unhealthy dietary habits, obesity, and aging populations. Biguanides, particularly metformin, are considered first-line therapy for T2DM due to their efficacy, safety profile, and cost-effectiveness. As the prevalence of T2DM continues to rise, there is a growing demand for antidiabetic medications, including biguanides, to manage blood glucose levels and prevent diabetes-related complications, thereby driving the growth of the Biguanides market.
An opportunity in the Biguanides market lies in the expansion into adjacent therapeutic indications beyond diabetes and the exploration of emerging markets. While biguanides are primarily used for the management of T2DM, there is increasing research interest in their potential therapeutic benefits in other disease areas such as polycystic ovary syndrome (PCOS), non-alcoholic fatty liver disease (NAFLD), cardiovascular diseases, cancer, and neurodegenerative disorders. Manufacturers can capitalize on this opportunity by investing in clinical research to explore the efficacy and safety of biguanides in these indications and seeking regulatory approvals for expanded indications. Additionally, there is untapped potential in emerging markets where the prevalence of diabetes is rising rapidly, and access to affordable antidiabetic medications, including biguanides, remains limited. By expanding their presence in emerging markets through strategic partnerships, distribution agreements, and market expansion initiatives, manufacturers can unlock new growth opportunities in the Biguanides market.
By Type
Metformin
Phenformin
By Distribution Channel
Hospitals
Retail pharmacies
Others
Geographical Analysis
North America (United States, Canada, Mexico)
Europe (Germany, France, United Kingdom, Spain, Italy, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Boehringer Ingelheim
Bristol-Myers Squibb
GlaxoSmithKline
Glenmark
Merck
Sanofi
Takeda
Teva
Zydus
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TABLE OF CONTENTS
1 Introduction to 2024 Biguanides Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Biguanides Market Size Outlook, $ Million, 2021 to 2030
3.2 Biguanides Market Outlook by Type, $ Million, 2021 to 2030
3.3 Biguanides Market Outlook by Product, $ Million, 2021 to 2030
3.4 Biguanides Market Outlook by Application, $ Million, 2021 to 2030
3.5 Biguanides Market Outlook by Key Countries, $ Million, 2021 to 2030
4 Market Dynamics
4.1 Key Driving Forces of Biguanides Market Industry
4.2 Key Market Trends in Biguanides Market Industry
4.3 Potential Opportunities in Biguanides Market Industry
4.4 Key Challenges in Biguanides Market Industry
5 Market Factor Analysis
5.1 Competitive Landscape
5.1.1 Global Biguanides Market Share by Company (%), 2023
5.1.2 Product Offerings by Company
5.2 Porter’s Five Forces Analysis
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Biguanides Market Outlook By Segments
7.1 Biguanides Market Outlook by Segments
By Type
Metformin
Phenformin
By Distribution Channel
Hospitals
Retail pharmacies
Others
8 North America Biguanides Market Analysis And Outlook To 2030
8.1 Introduction to North America Biguanides Markets in 2024
8.2 North America Biguanides Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Biguanides Market size Outlook by Segments, 2021-2030
By Type
Metformin
Phenformin
By Distribution Channel
Hospitals
Retail pharmacies
Others
9 Europe Biguanides Market Analysis And Outlook To 2030
9.1 Introduction to Europe Biguanides Markets in 2024
9.2 Europe Biguanides Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Biguanides Market Size Outlook By Segments, 2021-2030
By Type
Metformin
Phenformin
By Distribution Channel
Hospitals
Retail pharmacies
Others
10 Asia Pacific Biguanides Market Analysis And Outlook To 2030
10.1 Introduction to Asia Pacific Biguanides Markets in 2024
10.2 Asia Pacific Biguanides Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Biguanides Market size Outlook by Segments, 2021-2030
By Type
Metformin
Phenformin
By Distribution Channel
Hospitals
Retail pharmacies
Others
11 South America Biguanides Market Analysis And Outlook To 2030
11.1 Introduction to South America Biguanides Markets in 2024
11.2 South America Biguanides Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Biguanides Market size Outlook by Segments, 2021-2030
By Type
Metformin
Phenformin
By Distribution Channel
Hospitals
Retail pharmacies
Others
12 Middle East And Africa Biguanides Market Analysis And Outlook To 2030
12.1 Introduction to Middle East and Africa Biguanides Markets in 2024
12.2 Middle East and Africa Biguanides Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Biguanides Market size Outlook by Segments, 2021-2030
By Type
Metformin
Phenformin
By Distribution Channel
Hospitals
Retail pharmacies
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
Boehringer Ingelheim
Bristol-Myers Squibb
GlaxoSmithKline
Glenmark
Merck
Sanofi
Takeda
Teva
Zydus
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Type
Metformin
Phenformin
By Distribution Channel
Hospitals
Retail pharmacies
Others
The global Biguanides Market is one of the lucrative growth markets, poised to register a 3.4% growth (CAGR) between 2024 and 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Boehringer Ingelheim, Bristol-Myers Squibb, GlaxoSmithKline, Glenmark, Merck, Sanofi, Takeda, Teva, Zydus
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume