Metformin Hydrochloride API Market
Metformin Hydrochloride API Market (Product: Metformin Hydrochloride, Metformin Hydrochloride DC, and Others; End User: Pharmaceutical Companies, Contract Research Organizations, and Others; and Dosage Form: Tablet, Extended Release Tablet, and Oral Solution) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
Press Release :
Indian Companies Reduce Reliance on China for API Supply amid COVID-19 Pandemic
Due to the growing anti-China sentiment in India, manufacturers in the metformin hydrochloride API market are boosting their production capabilities to decrease reliance on China. Disruptions to supplies from China due to the COVID-19 pandemic have been a major factor for manufacturers to bolster local production of active pharmaceutical ingredients (APIs).
Though India is known as the pharmacy of the world for its massive production capabilities in generic drugs and vaccines, China is emerging as a stiff competition to India by accounting for half of the world API supply. Indian drug companies are turning to local producers in the metformin hydrochloride API market to end their reliance on China, as ties between the two countries sourced after a deadly border clash in June 2020. Executives at India’s Cipla, Biocon, Cadila Healthcare, and Sun Pharmaceutical are keen on reducing the dependence on richer rivals of raw materials.
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Blending APIs with Glidant Candidates Help Overcome Challenges of Poor Powder Flow
Metformin hydrochloride (metformin HCl) is widely used as the first choice of medication for type 2 diabetes. However, processing of this API can be challenging and most dosage forms available on the market are prepared by wet granulation. In order to overcome the challenges of poor powder flow, lump formation glidants are being used and the ratio between pre- and main compression is being optimized to obtain tablets possessing suitable quality attributes. Manufacturers in the metformin hydrochloride API market are ensuring the unit operations of blending the API with the glidant candidates and tableting on a rotary press are being carried out by continuous processing.
Continuous manufacturing is drawing the attention of stakeholders in the pharmaceutical industry, owing to its advantages of reduction in scale-up challenges and real-time quality control.
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High Prevalence of Diabetes Mellitus Fueling Demand for Metformin HCl Tablets
Lupin Pharmaceuticals Inc. - an innovation-led pharmaceutical company in the U.S. has announced the launch of its Metformin HCl ER Tablets, 500 mg, and 1000 mg to the market, which are a generic equivalent of Santarus Inc.’s Glumetza® HCl ER Tablets, 500 mg, and 1000 mg. Manufacturers in the metformin hydrochloride API market are introducing tablets that are an adjunct to diet and exercise to improve glycemic control in adults with type II diabetes mellitus.
Since high prevalence of diabetes mellitus in patients is characterized by a persistently elevated blood glucose associated with absent or inadequate pancreatic insulin secretion, manufacturers in the metformin hydrochloride API market are increasing their production capacities for tablets.
Metformin HCl Tablets Inhibit Process of Liver to Convert Glycogen into Sugar
The metformin hydrochloride API market is estimated to reach US$ 500 Mn by 2031. There is a growing demand for drugs that can control blood sugar levels for patients suffering from type 2 diabetes. Metformin HCl tablets help to reduce the amount of sugar produced by the liver, limit the amount of sugar absorbed into the body from the diet, and make insulin receptors more sensitive, which helps the body respond better to its own insulin.
Manufacturers in the metformin hydrochloride API market are increasing the availability of liquid and tablet forms of metformin HCl. Metformin HCl tablets are being publicized as oral anti-hyperglycemic medicines that are of paramount importance in the control and treatment of type 2 diabetes. The raw material powder of metformin hydrochloride API inhibits the process of the liver to convert glycogen into sugar. Manufacturers are increasing awareness about possible side effects such as digestive problem and nausea to improve patient quality of life.
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Indian drug companies are eyeing reliable local vendors who can promise consistency and competitive prices, due to the growing anti-China sentiment and reduced reliance on richer rival of raw materials during the COVID-19 pandemic. The metformin hydrochloride API market is witnessing the launch of new tablets that are equivalent to Santarus Inc.’s Glumetza® HCl ER Tablets, 500 mg, and 1000 mg. However, the processing of this API is potentially challenging, and most dosage forms available on the market are prepared by wet granulation. Hence, manufacturers should adopt continuous manufacturing and use of glidant candidates to process powdered form of metformin hydrochloride APIs.
Metformin Hydrochloride API Market: Overview
- This report analyzes the current scenario and future prospects of the global metformin hydrochloride API market. Rise in prevalence of diabetes, surge in awareness about diabetes, and increase in geriatric population are the key factors projected to drive the global metformin hydrochloride API market during the forecast period.
- The report includes an elaborate executive summary, which provides a snapshot of various segments of the global metformin hydrochloride API market. It also provides information and data analysis of the metformin hydrochloride API market about segments based on product, end user, dosage form, and region.
- The overview section of the report provides a detailed qualitative analysis of drivers, restraints, and opportunities that impact the global metformin hydrochloride API market
- The report includes company profiles, which provide information about their business, product portfolios, and competitive landscape in the global metformin hydrochloride API market
- The report on the metformin hydrochloride API market offers market attractiveness analysis of regions and segments
- The last section of the report comprises quantitative and qualitative analyses on market share/position of key players operating in the global metformin hydrochloride API market. It analyzes key competitive strategies adopted by major industry players, thereby presenting a thorough understanding of the competitive scenario in the global metformin hydrochloride API market.
Metformin Hydrochloride API Market: Key Segments
- In terms of product, the global metformin hydrochloride API market has been classified into metformin hydrochloride, metformin hydrochloride DC, and others. The metformin hydrochloride segment dominated the global market in 2020, owing to the availability of a range of products and presence of a large number of suppliers in the industry.
- Based on end user, the global metformin hydrochloride API market has been categorized into pharmaceutical companies, contract research organizations, and others. The pharmaceutical companies segment dominated the global market in 2020, owing to increase in production of metformin hydrochloride drugs, rise in R&D, and presence of a large number of pharmaceutical companies.
- In terms of dosage form, the global metformin hydrochloride API market has been divided into tablet, extended release tablet, and oral solution. The oral solution segment is expected to expand at a high CAGR from 2021 to 2031.
- Market size and forecast for each of these segments have been provided from 2017 to 2031. The CAGR of respective segment has been provided from 2021 to 2031, considering 2020 as the base year.
Metformin Hydrochloride API Market: Regional Outlook
- In terms of region, the global metformin hydrochloride API market has been segmented into North America (U.S. and Canada), Europe (U.K., Germany, Spain, Italy, France, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). Each region considered in the market has been divided into countries/sub-regions.
- The metformin hydrochloride API market report provides size and forecast for each region and country/sub-region from 2017 to 2031. The CAGR for each of these regions and countries has also been provided for the forecast period from 2021 to 2031. The metformin hydrochloride API market study also covers the competitive scenario in these regions.
Companies Covered in Metformin Hydrochloride API Market Report
- Key players in the global metformin hydrochloride API market have been profiled based on attributes such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies
- Major companies profiled in the metformin hydrochloride API market report are
- Auro Laboratories Limited
- Abhilasha Pharma Pvt. Ltd.
- Stanex Drugs & Chemicals Pvt. Ltd.
- Fengchen Group Co., Ltd.
- NS Chemicals
- Midas Pharma GmbH
- Harman Finochem Ltd.
- Aarti Drugs Ltd.
- Bayer AG
- Ipca Laboratories Ltd.
- Panacea Biotech Ltd.
- Aristopharma Ltd.
- Sihuan Pharmaceutical Holdings Group Ltd.
- Intas Pharmaceuticals Ltd.
- Bal Pharma Limited
- Sohan Healthcare Pvt. Ltd.
- JD Chem (I)
- Kothari Phytochemicals & Industries Ltd.
- Turtle Pharma Private Limited
- Shijiazhuang Polee Pharmaceutical Co., Ltd.
- Shouguang Fukang Pharmaceutical Co., Ltd.
- USV Private Limited
- Exemed Pharmaceuticals
- Farmhispania Group
- Shandong Keyuan Pharmaceutical Co., Ltd.
- Merck KGaA
- Taj API
- Vistin Pharma AS
- Wanbury Limited
Metformin Hydrochloride API Market – Scope of Report
TMR’s report on the global metformin hydrochloride API market studies past as well as current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2021 to 2031. The report provides revenue of the global metformin hydrochloride API market for the period of 2017–2031, considering 2020 as the base year and 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global metformin hydrochloride API market during the forecast period.
The report has been prepared after primary and secondary researches. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global metformin hydrochloride API market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various phenomenon in the global metformin hydrochloride API market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global metformin hydrochloride API market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global metformin hydrochloride API market.
The report delves into the competitive landscape of the global metformin hydrochloride API market. Key players operating in the global metformin hydrochloride API market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global metformin hydrochloride API market that have been profiled in this report.
Key Questions Answered in Metformin Hydrochloride API Market Report
- What are the major drivers, restraints, and opportunities in the market?
- What will be the Y-o-Y growth of the global metformin hydrochloride API market between 2021 and 2031?
- What are the revenue share projections of key segments of the global metformin hydrochloride API market during the forecast period?
- Will North America continue to be the most profitable market for metformin hydrochloride API?
- Which factors are anticipated to hamper the global metformin hydrochloride API market during the forecast period?
- Which are the leading companies in the global metformin hydrochloride API market?
A unique methodology has been utilized by TMR to conduct a comprehensive research on the growth of the global metformin hydrochloride API market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary research sources referred to by analysts during the production of the global metformin hydrochloride API market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the metformin hydrochloride API market as primary methods.
These primary research respondents have provided exclusive information during interviews, which serves as a validation from the metformin hydrochloride API market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global metformin hydrochloride API market with accuracy. The study also uses the top-down approach to assess the revenue of each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global metformin hydrochloride API more reliably and accurately.
Metformin Hydrochloride API Market – Segmentation