Metformin is the first-line drug for the treatment of type 2 diabetes, especially in people who are overweight. Metformin was originally developed by Merck Sharp & Dohme (trade name: GLUCOPHAGE ). GLUCOPHAGE first went on the market in France in 1957 and went on the market in China in 1994. Since then, some generic drugs have also been listed in the Chinese market. According to CRI’s market research, there are several manufactures in China’s Metformin market by 2020, of which Sino-US Shanghai Squibb Pharmaceutical Co., Ltd. accounts for the most market share.
According to CRI’s market research, the sales value of Metformin in the Chinese market increased year by year from 2016 to 2019. In 2020, due to the impact of COVID-19 on the overall medical diagnosis and treatment services, the sales value of Metformin in the Chinese market fell to CNY707 million in 2020, a year-on-year decline of 4.19%. The CAGR of Metformin sales value in the Chinese market from 2016 to 2020 is 7.01%.
CRI expects that with the relief of COVID-19, the sales value of Metformin in the Chinese market will have a restorative growth from 2021 to 2025. In addition, the number of diabetic patients in China ranks first in the world. The total prevalence rate of diabetes in adults is 12.8%. Type II diabetes accounts for 90% of diabetic patients, and the number of patients is huge. At the same time, as the population ageing in China is becoming increasingly severe, the number of patients and the prevalence rate are also increasing year by year. Therefore, the sales volume and sales value of Metformin for the treatment of type 2 diabetes have an increasing trend. In addition, compared with similar drugs, Metformin not only has the effect of lowering blood sugar, but also may have the effect of weight loss and treatment of hyperinsulinemia, and it can be effective for patients with poor efficacy of certain sulfonylureas. Based on these advantages, it is expected that the sales value of Metformin in the Chinese market will increase from 2021 to 2025.
- -The impact of COVID-19 on China’s Metformin market
- – Sales value of China’s Metformin 2016-2020
- – Competitive landscape of China’s Metformin market
- – Prices of Metformin in China
- – Prices of Metformin in China by regions and manufacturers
- – Analysis on factors affecting the development of China’s Metformin market
- – Prospect of China’s Metformin market from 2021 to 2025