(2024-2028) Metformin Hydrochloride Market Evolution with USD 441.58 Million and CAGR Value 5.16% | 125 Pages Report
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The Metformin Hydrochloride Market research contains an overall analysis of the market's global progression as well as insights on recent and forthcoming market trends. It covers Types such as [Metformin HCL, Metformin DC], Applications [Metformin Hydrochloride Tablets, Metformin Hydrochloride Extended-Release Tablets, Others], overhead expenses, key top player financial records, industry profitability reporting, regional statistics, categorization data, generating revenue, and the top important players - Vistin Pharma, Keyuan Pharmaceutical, Shouguang Fukang Pharmaceutical, Taj API, USV, FARMHISPANIA GROUP, Wanbury, Harman Finochem, Aarti Drugs, Puli Pharm. This data offers helpful information about rivals based on national research and projections from 2023 to 2028. This study provides Pre-COVID 19 and Post-COVID 19 pandemic statistics from the market's Major Competitors.
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“The Metformin Hydrochloride market's steady expansion, underscored by a substantial CAGR of 5.16%, reflects robust consumer demand and technological advancements. With a projected market size surpassing USD 441.58 Million by 2028, stakeholders are poised to capitalize on evolving opportunities and drive future growth.”
List of TOP Competitors in Metformin Hydrochloride Market Report are -
This study contains information about the top players in the Metformin Hydrochloride market. The data depicts the market's top rivals' historical, current, and future predictions. This area contains studies on Cost of Production, financial reports, Competitor Market Status by Country, Company Size and Share, Strengths and Weaknesses, Opportunities and Threats, and a future view up to 2028.
The Global Metformin Hydrochloride Market research focuses on remarkable data, supplier detailed information, investment, share, alliances, key cooperation, and some other information on a business. It also presents competitive territory, size, departmentalization, Market Desire, statistical data with 125 Pages, tables and figures, and market future features. This study discusses the effects of the COVID-19 pandemic as well as the Russia-Ukraine war. Also, provide a prediction for this market up to 2028.
Market Overview of Global Metformin Hydrochloride market:
The latest research study on the global Metformin Hydrochloride market finds that the global Metformin Hydrochloride market reached a value of USD 326.52 million in 2022. It’s expected that the market will achieve USD 441.58 million by 2028, exhibiting a CAGR of 5.16% during the forecast period.
Metformin Hydrochloride is the hydrochloride salt of the biguanide metformin with antihyperglycemic and potential antineoplastic activities. Metformin hydrochloride improves glucose tolerance by lowering basal and postprandial blood sugar. Metformin hydrochloride can reduce liver glucose production, reduce the intestinal absorption of glucose, and improve insulin sensitivity by increasing the muscle's absorption and utilization of glucose.
Market Drivers
Metformin hydrochloride is a medicine used to treat type 2 diabetes. Because it is safe and effective, it may be the most popular prescription drug for patients with type 2 diabetes. Although it is not possible to use metformin hydrochloride alone to treat type 1 diabetes. However, it can be used with insulin for people with type 1 diabetes to help control blood sugar. At the same time, unlike some other diabetes drugs, metformin hydrochloride does not cause weight gain. Therefore, the increase in diabetic patients has virtually increased the demand for metformin hydrochloride.
In addition, according to the US Centers for Disease Control and Prevention (CDC), more than 34 million Americans have diabetes (approximately one in ten), and approximately 90-95% of them have type 2 diabetes. Type 2 diabetes most commonly occurs in people over 45 years old, but more and more children, adolescents, and young people also suffer from this disease. According to data from the Australian Diabetes Association, one in ten adults will have diabetes by 2040 (642 million). 37% of adult diabetic patients live in the Western Pacific Region. There are more than 100 million diabetic patients in China. Most people with diabetes have type 2 diabetes. This type of diabetes is mainly the result of overweight and lack of exercise.
It can be seen that, due to the advantages of metformin hydrochloride in the treatment of type 2 diabetes, and the continuous growth of type 2 diabetes, the development of the industry will be promoted to a large extent.
For the metformin hydrochloride industry, the growing popularity of online pharmacies has promoted the development of the industry. This is mainly due to online channels that promote product sales. As shoppers become more accustomed to buying goods online and retailers fine-tune e-commerce operations to deliver products faster, the share of online e-commerce in total retail sales is increasing every year. At the same time, the pandemic has exacerbated this trend. Due to social distancing, more and more patients and providers visit these platforms. In the United States, the use of online pharmacies has increased by 17% from last year. The highest usage rate is among consumers aged 18-34. In the coming post-pandemic world, medical e-commerce shows no signs of abating, because many consumers are now accustomed to the convenience of remote prescriptions-and often at lower costs. It can be seen that online pharmacies have broadened the sales channels of products due to its convenience and other characteristics, thereby promoting the development of metformin hydrochloride.
Region Overview:
Europe had the highest growth rate of all regions.
Company Overview:
USV ,Wanbury ,Shouguang Fukang Pharmaceutical ,Vistin Pharma and Aarti Drugs are the five key players in the global Metformin Hydrochloride market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Metformin Hydrochloride market in the past 5 years.
The products provided by USV include active pharmaceutical ingredients (API), fixed-dose formulations (FDF), peptides, biosimilars, and injections. These are produced at USV's cGMP-compliant factory in India. USV products are sold in 65 countries/regions around the world.
Wanbury Limited is one of the fastest-growing pharmaceutical companies in India's "Top 50 Companies" (according to ORG-IMS) and has a strong influence in the API global market and domestic brand formulations. Wanbury's main areas of trust are in the sales and marketing of active pharmaceutical ingredients (APIs) in more than 50 countries and the presence of pan-Indian formulations.
Segmentation Overview:
By type, Metformin HCL segment accounted for the largest share of market in 2021.
Application Overview:
By application, the Metformin Hydrochloride Extended-Release Tablets segment occupied the biggest share from 2017 to 2022.
The report covers a research time span from 2018 to 2029; combines extensive quantitative analysis and exhaustive qualitative analysis; presents not only an overview of the global Metformin Hydrochloride market in metrics of sales, revenue, growth rate, but also a deeper dive into the segmented market by region, product type and downstream industry, showing the readers a clear and distinct picture of how the market is distributed from different perspectives.
For competitive landscape, prominent players with considerable market shares are comprehensively analyzed in this report. With information regarding the concentration ratio and detailed data reflecting the market performance of each player shared, the readers can acquire a holistic view of the competitive situation and a better understanding of their competitors.
As the COVID-19 takes over the world, we are continuously tracking the changes in the markets. We analyzed the impact of the pandemic in detail, along with other key factors, such as macro-economy, regional conflicts, industry related news and policies. Meanwhile, market investment scenario, technology status and developments, supply chain challenges, among other essential research elements are all covered.
Research Scope
This report provides an overview of the global Metformin Hydrochloride market and analyzes the segmented market by product type, downstream industry, and region, presenting data points such as sales, revenue, growth rate, explaining the current status and future trends of the Metformin Hydrochloride and its sub-markets in an intuitive way.
COVID-19 IMPACT ON MARKET -
Considering the economic change due to the COVID-19 Influence Metformin Hydrochloride which accounted of the global market of Metformin Hydrochlorides in 2023.
COVID-19 had major impact on the world market, disrupting the supply chain, industry, and capital markets. This research depicts the Market's growth, size, revenue, operational strategy, manufacturing costs, pre-COVID-19 situation, and post-COVID-19 situation. COVID-19 begins in China in 2019 and spreads throughout the world. It extended from China to Germany, France, Russia, Europe, Japan, India, Korea, and the United States.
Metformin Hydrochloride Market Segmentation:
This report introduced vital information of the market like meaning and definition, Raw Materials, Revenue generation, Information technologies, Product types and specifications, applications, etc. It offers current Metformin Hydrochloride market growth, competition Metformin Hydrochloride market analysis, types of supply chain and future prediction of the market.
Metformin Hydrochloride Market Types:
Metformin Hydrochloride Market Application/ End-Users:
This Market study offers descriptions of Metformin Hydrochlorides, meanings, and definitions, data provided in statistical tables and figures style will help you understand, COVID-19 Impact, Top competitors, market segments, market types, market applications, complete table of contents, and so on.
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Metformin Hydrochloride Market Regional Analysis -
Geographically, this report is segmented into several key regions, with sales, revenue, Metformin Hydrochloride market share and growth Rate of Metformin Hydrochloride in these regions, from 2017 to 2028, covering
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Detailed TOC of Global Metformin Hydrochloride Market Report 2023 -
1. Market Definition and Statistical Scope
1.1 Objective of the Study
1.2 Metformin Hydrochloride Market Definition
1.3 Market Scope
1.3.1 Market Segmentation by Type, Downstream Industry and Marketing Channel
1.3.2 Major Geographies Covered (North America, Europe, Asia Pacific, Middle East & Africa, Latin America)
1.4 Years Considered for the Study (2018-2029)
1.5 Currency Considered (U.S. Dollar)
1.6 Stakeholders
2. Research Findings and Conclusion
3 Key Companies’ Profile
3.1 Competitive Profile
3.1.1 Global Metformin Hydrochloride Sales and Market Share by Companies
3.1.2 Global Metformin Hydrochloride Revenue and Market Share by Companies
3.2 Vistin Pharma
3.2.1 Brief Introduction of Vistin Pharma
3.2.2 Vistin Pharma Sales, Growth Rate and Global Market Share from 2018-2023
3.2.3 Vistin Pharma Related Products/Service Introduction
3.2.4 Vistin Pharma Business Overview/Recent Development/Acquisitions
3.3 Keyuan Pharmaceutical
3.3.1 Brief Introduction of Keyuan Pharmaceutical
3.3.2 Keyuan Pharmaceutical Sales, Growth Rate and Global Market Share from 2018-2023
3.3.3 Keyuan Pharmaceutical Related Products/Service Introduction
3.3.4 Keyuan Pharmaceutical Business Overview/Recent Development/Acquisitions
3.4 Shouguang Fukang Pharmaceutical
3.4.1 Brief Introduction of Shouguang Fukang Pharmaceutical
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3.4.2 Shouguang Fukang Pharmaceutical Sales, Growth Rate and Global Market Share from 2018-2023
3.4.3 Shouguang Fukang Pharmaceutical Related Products/Service Introduction
3.4.4 Shouguang Fukang Pharmaceutical Business Overview/Recent Development/Acquisitions
3.5 Taj API
3.5.1 Brief Introduction of Taj API
3.5.2 Taj API Sales, Growth Rate and Global Market Share from 2018-2023
3.5.3 Taj API Related Products/Service Introduction
3.5.4 Taj API Business Overview/Recent Development/Acquisitions
3.6 USV
3.6.1 Brief Introduction of USV
3.6.2 USV Sales, Growth Rate and Global Market Share from 2018-2023
3.6.3 USV Related Products/Service Introduction
3.6.4 USV Business Overview/Recent Development/Acquisitions
3.7 FARMHISPANIA GROUP
3.7.1 Brief Introduction of FARMHISPANIA GROUP
3.7.2 FARMHISPANIA GROUP Sales, Growth Rate and Global Market Share from 2018-2023
3.7.3 FARMHISPANIA GROUP Related Products/Service Introduction
3.7.4 FARMHISPANIA GROUP Business Overview/Recent Development/Acquisitions
3.8 Wanbury
3.8.1 Brief Introduction of Wanbury
3.8.2 Wanbury Sales, Growth Rate and Global Market Share from 2018-2023
3.8.3 Wanbury Related Products/Service Introduction
3.8.4 Wanbury Business Overview/Recent Development/Acquisitions
3.9 Harman Finochem
3.9.1 Brief Introduction of Harman Finochem
3.9.2 Harman Finochem Sales, Growth Rate and Global Market Share from 2018-2023
3.9.3 Harman Finochem Related Products/Service Introduction
3.9.4 Harman Finochem Business Overview/Recent Development/Acquisitions
3.10 Aarti Drugs
3.10.1 Brief Introduction of Aarti Drugs
3.10.2 Aarti Drugs Sales, Growth Rate and Global Market Share from 2018-2023
3.10.3 Aarti Drugs Related Products/Service Introduction
3.10.4 Aarti Drugs Business Overview/Recent Development/Acquisitions
3.11 Puli Pharm
3.11.1 Brief Introduction of Puli Pharm
3.11.2 Puli Pharm Sales, Growth Rate and Global Market Share from 2018-2023
3.11.3 Puli Pharm Related Products/Service Introduction
3.11.4 Puli Pharm Business Overview/Recent Development/Acquisitions
4. Global Metformin Hydrochloride Market Segmented by Type
4.1 Global Metformin Hydrochloride Sales, Revenue and Growth Rate by Type 2018-2023
4.2 Metformin HCL
4.3 Metformin DC
5 Global Metformin Hydrochloride Market Segmented by Downstream Industry
5.1 Global Metformin Hydrochloride Sales, Revenue and Growth Rate by Downstream Industry 2018-2023
5.2 Metformin Hydrochloride Tablets
5.3 Metformin Hydrochloride Extended-Release Tablets
5.4 Others
6 Metformin Hydrochloride Industry Chain Analysis
6.1 Value Chain Status
6.2 Upstream Raw Material Analysis
6.3 Midstream Major Company Analysis (by Manufacturing Base, by Product Type)
6.4 Distributors/Traders
6.5 Downstream Major Customer Analysis (by Region)
6.6 Value Chain Under Regional Conflicts
7. The Development and Dynamics of Metformin Hydrochloride Market
7.1 Driving Factors of the Market
7.2 Factors Challenging the Market
7.3 Opportunities of the Global Metformin Hydrochloride Market (Regions, Growing/Emerging Downstream Market Analysis)
7.4 Technology Status and Developments in the Metformin Hydrochloride Market
7.5 Industry News
7.6 Market Investment Scenario Strategic Recommendations
7.7 COVID-19 Impact on Metformin Hydrochloride Industry
7.7.1 Metformin Hydrochloride Business Impact Assessment - Covid-19
7.7.2 Supply Chain Challenges
7.7.3 Market Trends and Potential Opportunities of Metformin Hydrochloride in the COVID-19 Landscape
7.8 Industry SWOT Analysis
8 Global Metformin Hydrochloride Market Segmented by Geography
8.1 Global Metformin Hydrochloride Revenue and Market Share by Region 2018-2023
8.2 Global Metformin Hydrochloride Sales and Market Share by Region 2018-2023
Continued…
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