Summary

The APAC Biguanide Market size is estimated at USD 1.97 billion in 2024, and is expected to reach USD 2.17 billion by 2029, growing at a CAGR of 2% during the forecast period (2024-2029).

The COVID-19 pandemic positively impacted the Asia-Pacific Biguanide Market. According to a study by BeatO in 2021 on 800 people, patients with COVID -19 and pre-existing diabetes have experienced blood glucose level fluctuations, which has eventually led to a high demand for advanced drugs to treat diabetes. Diabetes and uncontrolled hyperglycemia are risk factors for poor outcomes in patients with COVID-19 including an increased risk of severe illness or death. People with diabetes have a weaker immune system, the COVID-19 complication aggravates the condition, and the immune system gets weaker very fast.

Biguanides are a class of medications used to treat type 2 diabetes. They work by reducing the production of glucose that occurs during digestion. Metformin is the only biguanide currently available in most countries for treating diabetes. Glucophage (metformin) and Glucophage XR (metformin extended release) are well-known brand names for these drugs. Others include Fortamet, Glumetza, and Riomet. Metformin is also available in combination with several other types of diabetes medications, such as sulfonylureas.

As Type 2 diabetes is associated with both poorer clinical outcomes during the COVID-19 pandemic and an increased risk of death in such hospitalized patients, the role of glucose control has been emphasized to improve the prognosis. Metformin is the first-line choice for the management of hyperglycemia in T2DM. Besides being an important glucose-lowering agent, metformin also has significant anti-inflammatory. Therefore, metformin has been a potential candidate for treating patients affected by COVID-19 infection, with type 2 diabetes, as well as an excellent antidiabetic (glucose-lowering) agent during COVID-19 pandemic times.

Over the past few decades, Asian countries have witnessed a rapid increase in diabetes patients, especially those with type 2 diabetes. Developing countries have more than 70% of the global diabetes population. The Asia -Pacific is anticipated to experience considerable growth due to a more geriatric population and rising prevalence of diabetes mainly due to the enhanced stress level, sedentary lifestyles, smoking, and excessive consumption of alcohol that elevates the body's sugar levels have led to the growth of the market. Moreover, the production basis of certain antidiabetic drug companies in the region also boosted market growth.

APAC Biguanide Market Trends

Rising diabetes prevalence

The diabetes population in the Asia-Pacific region is expected to rise by more than 1% over the forecast period.

The Asia-Pacific region has witnessed an alarming increase in the prevalence of diabetes in recent years. In developing countries such as China and India, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. Approximately 90 million adults in the IDF South-East Asia Region had diabetes in 2021, according to the International Diabetes Federation. The number of people with this condition is expected to rise to 152 million by 2045, and the 206 million adults in the IDF Western Pacific Region who had diabetes in 2021 will likely reach 260 million by 2045. Diabetes is associated with many health complications. Patients with diabetes require many corrections throughout the day for maintaining normal blood glucose levels, such as oral anti-diabetic medication or the ingestion of additional carbohydrates, by monitoring their blood glucose levels.

Metformin is typically the first medication used in the treatment of type-2 diabetes due to its wide range of efficacy, safety, and mechanisms of action. Metformin and other anti-diabetic drug combinations have a low risk of hypoglycemia, provide beta cell protection, offer cardio-renal benefits, and are safe for patients with kidney or liver conditions and senior citizens. In July 2022, Zydus Lifesciences announced that it had received final approval to market empagliflozin and metformin hydrochloride tablets in multiple strengths. Empagliflozin and metformin hydrochloride tablets are used with proper diet and exercise to improve glycemic control in adults with type-2 diabetes mellitus. They are also used to lower the risk of cardiovascular death in patients with type-2 diabetes mellitus and established cardiovascular disease.

Owing to the rising rate of obesity, the growing genetic factors for type-2 diabetes, the increasing prevalence, and the aforementioned factors, it is likely that the market will continue to grow.

China holds the highest market share in the Asia-Pacific Biguanide Market in the current year

China holds the highest market share in the Asia-Pacific biguanide market and is expected to register a CAGR of around 2% over the forecast period.

China has been recognized as a potential developing market due to the growing diabetic population in this region. It is a mature market with some associated challenges, like slow economic growth, an aging population, and increased competition. The country is witnessing a significant increase in the number of generic drug manufacturers. Furthermore, the leading global players in the market studied are facing intense competition from regional players. In this region, there is a growing preference for oral anti-diabetics among type-2 diabetic patients. The high prevalence of type-2 diabetes is associated with a significant economic burden. The costs of diabetes are increased in patients with comorbidities such as hypertension and hyperlipidemia and in patients who develop complications. Costs increase with an increasing number of complications.

Diabetes reduces lifespan, and people with the disease are likely to experience blindness and be hospitalized for amputations, kidney failure, heart attacks, strokes, and heart failure. The first-line therapy used in patients with T2DM is metformin monotherapy. When metformin is contraindicated or not tolerated, or when treatment goals are not achieved after three months of use at the maximum tolerated dose, other options need to be considered. Dipeptidyl peptidase-4 (DPP-4) inhibitors, sodium-glucose cotransporter-2 (SGLT-2) inhibitors, and glucagon-like peptide-1 (GLP-1) agonists are newer drugs for diabetes mellitus. They are usually used with metformin to treat diabetes.

Owing to the aforementioned factors, the market is expected to grow during the forecast period.

APAC Biguanide Industry Overview

The Asia-Pacific biguanide market is fragmented, with manufacturers like Takeda, Merck, Sanofi, GlaxoSmithKline, Bristol-Myers Squibb, and Boehringer Ingelheim Pharmaceuticals having a global market presence and the market is highly competitive due to other generic drugs manufacturers' presence.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Biguanide
5.2 Geography
5.2.1 Japan
5.2.2 South Korea
5.2.3 China
5.2.4 India
5.2.5 Australia
5.2.6 Vietnam
5.2.7 Malaysia
5.2.8 Indonesia
5.2.9 Philippines
5.2.10 Thailand
5.2.11 Rest of Asia-Pacific

6 MARKET INDICATORS
6.1 Type-1 Diabetes Population
6.2 Type-2 Diabetes Population

7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Merck
7.1.2 Takeda
7.1.3 GlaxoSmithKline
7.1.4 Sanofi
7.1.5 Boehringer Ingelheim Pharmaceuticals
7.1.6 Glenmark
7.1.7 Bristol-Myers Squibb
7.2 Company Share Analysis
7.2.1 Merck
7.2.2 Takeda
7.2.3 Sanofi
7.2.4 Other Company Share Analyses

8 MARKET OPPORTUNITIES AND FUTURE TRENDS