Metformin Hydrochloride API Market Insight and Trends 2027
The global Metformin Hydrochloride API market gathered revenue around USD 310 Million in 2020 and market is set to grow USD 495 Million by the end of 2027 and is estimated to expand at a modest CAGR of 6.2% during the prediction period 2021 to 2027.
Growth Factors:
The market Metformin hydrochloride is primarily used in the treatment of diabetes. The prevalence of diabetes is expected to increase across the world due to change in lifestyle and factors such as malnutrition and genetic mutations. According to government and private organizations operating in the diabetes industry, diabetes is considered one of the top fatal diseases globally. According to the American Diabetes Association, diabetes accounts for around 70,000 deaths in the U.S. each year. Diabetes is more prevalent in the geriatric population. According to the American Diabetes Association, over 24% of the diabetic patients in the U.S. are aged 65 years and above.
North America held a major share of the global metformin hydrochloride API market in 2020 due to high procurement of metformin hydrochloride API by pharmaceutical companies and contract manufacturing organizations in the region.
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.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Metformin Hydrochloride API market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Metformin Hydrochloride API market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 495 Million by 2027 |
| Growth Rate | CAGR of 6.2% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Product, End User, Dosage Form and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | 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, |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Metformin Hydrochloride API market report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
North America to Lead Global Market; Asia Pacific to Offer Significant Opportunities
In terms of region, the global metformin hydrochloride API market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is projected to account for a leading share of the global metformin hydrochloride API market during the forecast period. High prevalence of diabetes and increase in geriatric population are anticipated to drive the market in the region. According to the CDC, nearly 33.9 million people have diabetes (10.5% of the population) and around 87 million people above 18 years have prediabetes (35.5% of the adult population) in the U.S. The market in Europe is expected to expand at a high CAGR in the near future, owing to the presence of local as well as global players and increase in the demand for metformin hydrochloride API in the region.
The metformin hydrochloride API market in Asia Pacific is likely to grow at a rapid pace in the near future. Rise in awareness and increase in healthcare expenditure in the region are projected to propel the market in Asia Pacific over the next few years.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
· Company Overview
· Company Market Share/Positioning Analysis
· Product Offerings
· Financial Performance
· Recent Initiatives
· Key Strategies Adopted by Players
· Vendor Landscape
· List of Suppliers
· List of Buyers
Significant Market Participants Operational in the Metformin Hydrochloride API Market 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, and Wanbury Limited.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Global Metformin Hydrochloride API Market: Segmentation
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
A unique research methodology has been utilized by Nova one advisor to conduct 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.
Nova one advisor employs comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation that looks market from three different perspectives. Critical elements of methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia and trade journals. Technical data is also gathered from intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development and pricing trends is fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, and industry experience and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of technology landscape, regulatory frameworks, economic outlook and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
• Market drivers and restrains, along with their current and expected impact
• Raw material scenario and supply v/s price trends
• Regulatory scenario and expected developments
• Current capacity and expected capacity additions up to 2027
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting for our reports. Exhaustive primary interviews are conducted, on face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation, but also provide critical insights into the market, current business scenario and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
• Market leading companies
• Raw material suppliers
• Product distributors
• Buyers
The key objectives of primary research are as follows:
• To validate our data in terms of accuracy and acceptability
• To gain an insight in to the current market and future expectations
Secondary Validation
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 Nova one advisor’s study on the Metformin Hydrochloride API market as primary methods.
The study objectives of this report are:
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers