North America Biguanide Market Size (2024 - 2029)

North American Biguanide Market Analysis

The North America Biguanide Market size is estimated at USD 1.36 billion in 2024, and is expected to reach USD 1.58 billion by 2029, growing at a CAGR of 2.59% during the forecast period (2024-2029).

The COVID-19 pandemic positively impacted the North American Biguanide Market. 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. People with diabetes have more chances to get into serious complications rather than normal people.

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.

In North America, till April 2022, the United States is having the highest COVID cases around 82 million, the country also registered the highest death rate. According to the Diabetes Voice article published in May 2020, close to 40,000 deaths of people who are having diabetes. Pandemic emergency has created a rise in remote care from both patients and providers and removed many long-standing regulatory barriers.

The North American region had witnessed an alarming increase in the prevalence of diabetes, in recent years. In developed countries, such as the United States and Canada, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. Diabetes is associated with many health complications. Patients with diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as the administration of additional insulin or ingestion of additional carbohydrates by monitoring their blood glucose levels.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.

North American Biguanide Industry Segmentation

Biguanides are a class of diabetes medications used for people with type 2 diabetes. The North American Biguanide Market is segmented into geography (United States, Canada, and the rest of North America). The report offers the value (in USD) and volume (in units) for the above segments. Further, the report will cover a segment-wise breakdown (value and volume) for all the countries covered under the Table of Contents.