Metformin Market to grow at a steady rate During the Forecast Period
Increasing diabetic population is expected to drive the
growth of India metformin market.
According to
TechSci Research report, “India Metformin Market By Source (In-House v/s
Contract Manufacturing Organizations), By Type (Immediate Release Tablets v/s
Extended Release Tablets), By Distribution Channel (Online v/s Offline), By
Application (Type-2 Diabetes v/s Poly-Cystic Ovarian Syndrome), By End User
(Children ≥10 years v/s Adults), By Company, By Region, Forecast &
Opportunities, FY2026”, the India metformin market
is expected to grow at a steady rate during the forecast period on account of the
growing use of the drug in maintaining polycystic ovarian syndrome (PCOS)
symptoms. At present there is no medicine approved by the FDA for treatment of
PCOS. Metformin is used to treat various symptoms of PCOS, it serves as
anti-androgenic drug and an ovulation inducing agent. These factors are
expected to increase the demand for metformin as a potential treatment of PCOS
symptoms. Furthermore, self-reliant India policy and announcement of production
incentive scheme for APIs, drug intermediates and key starting materials by the
government of India are expected to increase the demand and boost the status of
domestic manufacturers in the country. This in turn is expected to positively
influence the market growth through FY2026. However, side effects associated
with the drug such as gastrointestinal disorders such as nausea, vomiting,
indigestion, diarrhea, among others can hamper the market growth over the next
few years. Also, it causes fatigue, lack of energy and headache. Other
side-effects include dizziness, lightheadedness, liver injury, taste
disturbance, among others.
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The India
metformin market is segmented based on source, type, distribution channel,
application, end user, company and region. Based on distribution channel, the
market can be split into online and offline. The offline segment is expected to
dominate the market on account of the widespread network of independent
pharmacies and hospital pharmacies selling the medicine. Based on end user, the
market can be split into children ≥10 years and adults. The adults segment is
expected to dominate the market owing to the growing geriatric population
suffering from diabetes in the country. Additionally, children ≥10 years
segment is expected to grow significantly on account of changing lifestyle,
prevalence of obesity, among others in this age group. This in turn has
drastically increased the prevalence of juvenile diabetes, thereby fueling the
market growth over the next few years.
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 are some of the leading players operating in India Metformin market.
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“India metformin market is
expected to witness growth during the forecast period on account of the
widespread use of the drug in treating diabetes and PCOS. Additionally,
supportive government policies like announcement of 7,000 crore incentive for
indigenous drug intermediates, APIs production and scheme for establishment of
bulk drug parks is further expected to create lucrative opportunities for the
market growth over the next few years. Furthermore, the major manufacturers
operating in the market are making investments and expanding their existing
infrastructure capabilities to ramp up their production capabilities and meet
the market demands.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based India management consulting firm.
“India Metformin Market By Source (In-House
v/s Contract Manufacturing Organizations), By Type (Immediate Release Tablets
v/s Extended Release Tablets), By Distribution Channel (Online v/s Offline), By
Application (Type-2 Diabetes v/s Poly-Cystic Ovarian Syndrome), By End User
(Children ≥10 years v/s Adults), By Company, By Region, Forecast &
Opportunities, FY2026”, has evaluated
the future growth potential of India metformin market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in India metformin market.
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