Global Metformin Drugs Market Overview:
Metformin is the most often used oral hypoglycemic agent today. This article discusses how it should be used to cure type 2 diabetes. The major mechanisms of action include decreased appetite and carbohydrate absorption in the intestine, suppression of hepatic gluconeogenesis, and enhanced glucose uptake by peripheral tissues. Metformin has long been recognized as the first-line therapy for type 2 diabetes. Metformin's potency is matched by excellent safety: the medication can only be avoided in patients with apparent contraindications (mainly chronic renal failure, congestive heart failure, chronic obstructive pulmonary disease, liver disease). Furthermore, metformin's cost-effectiveness has been identified. In general, metformin is an ideal alternative for both specialist and primary care settings.
- Increasing Affordability of Metformin Drugs
- Prevalence of Type 2 Diabetic Conditions
- Rising Geriatric Population
- Technical Progress in Pharmaceutical Industry
- Lack of Trained Professionals
- Limited Administrative Forms
- Growing Healthcare Infrastructure
- Regulatory Approval
- High Initial Investment
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Bristol-Mayers Squibb (United States), Teva Pharmaceutical Industries Ltd. (Israel), Harman Finochem (India), Vistin Pharma (Norway), China Res Double-Crane (China), Farmhispania Group (Spain), Shijiazhuang Polee Pharmaceutical (China), Merck Sante S.A.S. (France), Aarti Drugs Limited (India) and Taj Pharmaceuticals Limited (India). Additionally, following companies can also be profiled that are part of our coverage like Wanbury Limited (India), Granules India Limited (India), Keyuan Pharmaceutical (China) and Fukang Pharmaceutical (China). Analyst at AMA Research see Indian & Chinese Players to retain maximum share of Global Metformin Drugs market by 2026. Considering Market by Category, the sub-segment i.e. Immediate Release will boost the Metformin Drugs market. Considering Market by Form, the sub-segment i.e. Tablets will boost the Metformin Drugs market. Considering Market by Distribution Channel, the sub-segment i.e. Retail Pharmacies will boost the Metformin Drugs market.
Latest Market Insights:
On 16th December, 2019 – Cipla Acquired Brand Name and Trademark Rights for its Vysov For Anti-Diabetic Drug Vildagliptin For the Indian Market from Novartis AG. Before the Acquisition Cipla Co-Marketed Under Brand Names Vysov and Vysov M (Vildagliptin plus Metformin).
On 26th February, 2020 - Sun Pharma Launched RIOMET ER Oral Suspension (Metformin Hydrochloride for Extended-Release Oral Suspension), The Only U.S. FDA-Approved Extended-Release Liquid Formulation of Metformin for Adults that are Unable to Swallow Solid Medication Types. and On 13th January, 2021 - Granules India Received USFDA Approval of its Abbreviated New Drug Application (ANDA) Metformin Hydrochloride ER Tablets. Metformin Tablets are Recommended as An Adjunct to Diet and Exercise in Adults with Type 2 Diabetes Mellitus to Enhance Glycemic Control.
United States, Food and Drug Administration “Metformin Label” - Provides a Comprehensive List of Procedures Regarding the Usage, Indications and Dosage Requirements of Metformin Drugs Based on the Patient Profile. Any New Entrant is Required to have Regulatory FDA Approval for Sale Across US.
What Can be Explored with the Metformin Drugs Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Metformin Drugs Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Metformin Drugs
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Metformin Drugs market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Metformin Drugs market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Metformin Drugs Manufactures, New Entrants and Investors, API Providers, Metformin Drugs Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.