Metformin is an antihyperglycemic drug
which is used in the treatment of type 2 diabetes and polycystic ovarian
syndrome (PCOS). The drug functions by reducing blood glucose levels in type 2
diabetes without causing hypoglycemia. In PCOS patients, the drug functions by
reducing weight and androgen levels. The drug helps in restoring ovulation and
minimizes the risk of miscarriage also.
India metformin market is expected to
grow at a steady rate during the forecast period. The India metformin market is
driven by the growing prevalence of diabetes in the country, especially among
the geriatric population. According to the International Diabetes Federation,
as of 2020, there are around 77 million people in the country suffering from
diabetes. India has the second largest patient population suffering from
diabetes after China. Additionally, initiatives taken by the Government of
India such as the China-plus-one strategy are further expected to create
lucrative opportunities for the market growth through FY2026. This strategy
involves identification of essential active drug ingredients and providing
incentives to the indigenous manufacturers in the country. This not only will help in reviving the status
of domestic players but also help India in becoming an alternative active
pharmaceutical ingredients (APIs) supplier for drug manufacturing companies.
Besides, this the government has identified 53 APIs covering around 41 products
for which it will be offering
incentives to the manufacturer companies, provided they setup greenfield
projects.
The India metformin market is segmented
based on source, type, distribution channel, application, end user, company and
region. Based on type, the market can be split into immediate release tablets and
extended release tablets. The extended release tablets segment is expected to
hold a larger market share as compared to the immediate release tablets. This can be ascribed to the fact that
extended release tablets have longer duration of action than the immediate
release tablets. Also, they have lesser side-effects and are prescribed once
daily after evening meal.
The major players operating in the India
metformin market are Bristol-Myers Squibb India Pvt. Ltd., Teva API India
Limited, Aarti Drugs Ltd., Exemed Pharmaceuticals, Wanbury Limited, USV Private
Limited, Harman Finochem Limited, Aurobindo Pharma Limited, Auro Laboratories
Limited, Trimax Bio Sciences Pvt. Ltd. and others. Majority of the companies
are adopting advanced technologies and launching new products in order to stay
competitive in the market. Other competitive strategies include mergers &
acquisitions, research collaborations and pharma licensing deals.
Years
considered for this report:
Historical Years: FY2016-FY2019
Base Year: FY2020
Estimated Year: FY2021
Forecast Period: FY2022–FY2026
Objective of the Study:
- To analyze and estimate the market size of India metformin market
from FY2016 to FY2019.
- To estimate and forecast the market size of India Metformin market
from FY2020 to FY2026 and growth rate until FY2026.
- To classify and forecast India metformin market based on source,
type, distribution channel, application, end user, company and regional
distribution.
- To identify dominant region or segment in the India metformin market.
- To identify drivers and challenges for India metformin market.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., in India metformin market.
- To identify and analyze the profile of leading players operating in
India metformin market.
- To identify key sustainable strategies adopted by market players in
India metformin market.
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TechSci Research performed both primary as well as exhaustive
secondary research for this study. Initially, TechSci Research sourced a list
of manufacturers across the globe. Subsequently, TechSci Research conducted
primary research surveys with the identified companies. While interviewing, the
respondents were also enquired about their competitors. Through this technique,
TechSci Research could include the manufacturers which could not be identified
due to the limitations of secondary research. TechSci Research analyzed the manufacturers,
distribution channels and presence of all major players across the globe.
TechSci
Research calculated the market size of India metformin market using a bottom-up approach, wherein data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- Metformin manufacturers/ suppliers/
distributors
- Market research and consulting firms
- Government bodies such as regulating
authorities and policy makers
- Organizations, forums and alliances related to
Metformin
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as manufacturers,
suppliers and partners, end users, etc., besides allowing them in strategizing
investments and capitalizing on market opportunities.
Report Scope:
In this report, India metformin market has
been segmented into following categories, in addition to the industry trends
which have also been detailed below:
- India Metformin Market, By Source:
- In-House
- Contract
Manufacturing Organizations
- India Metformin Market, By Type:
- Immediate
Release Tablets
- Extended
Release Tablets
- India Metformin Market, By Distribution Channel:
- India Metformin Market, By Application:
- Type-2
Diabetes
- Polycystic
Ovarian Syndrome
- India Metformin Market, By End User:
- Children
≥10 years
- Adults
- India Metformin Market, By Region:
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in India metformin market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
India Metformin market is
an upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]