Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!

What CAGR Will the Biguanides Market Achieve During 2025–2034, and What Does It Indicate?

The market size for biguanides has been on a consistent upward trend in recent years. It is predicted to grow from $4.96 billion in 2024 to $5.16 billion in 2025, signifying a compound annual growth rate (CAGR) of 4.1%. The historical growth can be credited to an increase in the demand for oral hypoglycemic medication, a surge in the elderly population, increasing obesity rates, and a heightened awareness surrounding diabetes management.

In the forthcoming years, the biguanides market is forecasted to undergo consistent expansion, growing to $5.98 billion by 2029 at a 3.7% compound annual growth rate (CAGR). This expected growth during the forecast period can be ascribed to several factors including the increasing adaptation of combination therapies, rapid advancements in drug delivery technologies, a rise in investments towards research and development, escalating healthcare expenses, and a widening scope in treating polycystic ovary syndrome. Upcoming trends for the forecast period encompass a heightened focus on the development of extended-release formulations, a surging preference for fixed-dose combination therapies, a broadening application in the field of oncology, and the introduction of novel biguanides showcasing enhanced efficiency and safety levels.

What Industry-Specific Factors Are Fueling the Growth of the Biguanides Market?

The biguanides market is anticipated to surge due to the increasing prevalence of diabetes. Diabetes, a chronic metabolic disease, is characterized by elevated blood glucose levels due to insufficient insulin production in the body. Various factors, such as lifestyle modifications, elderly population, genetic disposition, enhanced detection methods, and environmental impacts, are fueling the rise in diabetes. Biguanides, notably metformin, alleviate diabetes by enhancing insulin responsiveness, diminishing liver glucose output, and reducing blood glucose levels in individuals with type 2 diabetes. For example, the Office for Health Improvement & Disparities, a government agency based in the UK, reported in March 2024 that between March 2022 and March 2023, the proportion of individuals with type 1 diabetes receiving all eight recommended care processes rose by 22%, and for type 2 diabetes, it increased by 21%. Simultaneously, the percentage reaching target HbA1c levels soared to 37.9%, the highest ever recorded. Hence, the escalating incidence of diabetes is propelling the biguanides market’s expansion.

Get Your Free Sample of the Global Biguanides Market Report Now!

https://www.thebusinessresearchcompany.com/sample.aspx?id=15735&type=smp

Who Are the Key Firms Paving the Way for Growth in the Biguanides Market?

Major companies operating in the biguanides market are:

• Cardinal Health Inc._x000D_

• Pfizer Inc._x000D_

• Merck And Co Inc._x000D_

• Bayer AG_x000D_

• Sanofi-Aventis LLC_x000D_

What Are the Most Influential Trends Currently Shaping the Biguanides Market?

Leading firms in the biguanide market are centering their efforts on creating superior solutions, such as prolonged-release biguanide pharmaceuticals, to augment patient adherence, strengthen therapeutic effectiveness, and diminish side effects. A slow-release biguanide drug is specially designed to gradually disseminate its active substance, guaranteeing steady blood concentrations and advanced control of blood glucose levels in diabetic patients, which in turn heightens commitment to treatment. For example, in August 2023, Dr. Reddy’s Laboratories, a biotech firm based in India, initiated the launch of extended-release saxagliptin and metformin hydrochloride drugs. This is an FDA-approved generic of KOMBIGLYZE XR, consisting of metformin, a biguanide, and saxagliptin, a DPP-4 inhibitor. This combination aims to boost glycemic control in adults suffering from type 2 diabetes mellitus and is recommended to be used with a diet and exercise plan. The implementation of an extended-release formulation helps to enhance patient compliance and efficacy of the treatment.

Get Instant Access to the Global Biguanides Market Report with Swift Delivery!

https://www.thebusinessresearchcompany.com/report/biguanides-global-market-report

How Are Key Segments Defining the Competitive Landscape of the Biguanides Market?

The biguanides market covered in this report is segmented –

1) By Type: Metformin, Phenformin, Other Types

2) By Dosage Form: Tablets, Oral Solutions

3) By Formulation: Immediate Release, Extended Release

4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies

Subsegments:

1) By Metformin: Immediate-Release Metformin, Extended-Release Metformin

2) By Phenformin: Phenformin Hydrochloride

3) By Other Types: Buformin, Metformin Combinations

Which Regions Are Essential for the Growth of the Biguanides Market?

Asia-Pacific was the largest region in the biguanides market in 2023. Middle East And Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the biguanides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

What Key Elements Shape the Definition of the Biguanides Market?

Biguanides refer to a group of medications primarily used to treat type 2 diabetes. They help lower blood sugar levels by reducing the amount of sugar produced by the liver and improving the body’s response to insulin. These medications are also used to treat polycystic ovary syndrome (PCOS) and other metabolic disorders.

Browse Through More Similar Reports By The Business Research Company:

Urothelial Cancer Drugs Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/urothelial-cancer-drugs-global-market-report

Vitamin D Therapy Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/vitamin-d-therapy-global-market-report

Small Molecule API Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/small-molecule-api-global-market-report

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: