Metformin Drugs Market : Global Outlook, Growth Trends, and Forecast 2025-2032

Fri, 28 Mar 2025 09:34:58 +0000

As of 2023, the global Metformin Drugs Market was valued at approximately USD 3,784 million. However, market projections indicate a decline, with the market expected to reach USD 2,252.68 million by 2032. This represents a negative compound annual growth rate (CAGR) of -0.06% over the forecast period. North America accounted for USD 893.62 million in 2023, with a projected CAGR of -0.05% through 2032. The downward trend in market valuation can be attributed to factors such as patent expirations, increased generic competition, and emerging alternative treatments.Metformin, widely marketed under the trade name Glucophage and others, is a first-line medication used for the treatment of type 2 diabetes, particularly in overweight individuals. It belongs to the biguanide class of drugs and is primarily used to lower blood sugar levels by improving insulin sensitivity and reducing glucose production in the liver.