Metformin Hydrochloride Price Trend

Metformin Hydrochloride Prices December 2023

The price of metformin hydrochloride in China for Q4 2023 reached 5952 USD/MT. The market faced a varied market scenario during the Q4 of 2023, shaped by two main influencing factors such as lack of sufficient domestic production capacity and the moderation of inflation. 

In Q4 of 2023, metformin hydrochloride prices in Germany accounted for 5299 USD/MT. There was a decrease in product prices due to weakening manufacturing sector, slow demand, and decreased output in October of Q4. In addition, consumer inflation declined, which put additional pressure on people's ability to make purchases. These reasons led to lower prices as market providers sought to clear out their inventories. Furthermore, prices increased once again in November and December on account of improving consumer sentiments as the year came to an end regardless of ongoing economic uncertainty.

Metformin Hydrochloride Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Metformin Hydrochloride Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of metformin hydrochloride pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of metformin hydrochloride at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of metformin hydrochloride price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing metformin hydrochloride price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Metformin Hydrochloride Market Analysis

The global metformin hydrochloride market size reached US$ 283.5 Million in 2023. By 2032, IMARC Group expects the market to reach US$ 448 Million, at a projected CAGR of 5.20% during 2023-2032.

• There is a rise in the prevalence of diabetes among individuals, which is catalyzing the demand for metformin hydrochloride. There are various factors that are contributing to the prevalence of this chronic disease among people such as the geriatric populations, poor diets, inadequate exercise, and sedentary lifestyle. Furthermore, diabetes is leading to the increase in the number of peripheral artery disease, heart attacks, strokes, and other cardiovascular illnesses. High blood sugar levels can harm blood vessels and the nerves that regulate the heart and blood vessels, ensuing arterial constriction and cardiovascular issues among individuals. Diabetes can also cause nerve damage throughout the body. As a result, metformin hydrochloride is taken to manage type 2 diabetes in order to prevent any type of subsequent issues. Approximately 783 Million are anticipated to suffer from diabetes in 2045 as stated by the International Diabetes Federation (IDF).
• The metformin hydrochloride demand is further propelled by its consumption among the geriatric population. There is a risk of developing diabetes among the geriatric population owing to factors such as decreased physical activity and changes in metabolism. The World Health Organization claims that the population of people aged 60 years and older across the globe will double. i.e., 2.1 Billion by 2050.
• Metformin hydrochloride is also becoming increasingly popular among people facing obesity issues as it is a major risk factor for type 2 diabetes. There is an increase in the demand for metformin hydrochloride as obesity rates continue to rise among individuals around the world.
• Proactive screening programs are organized by healthcare institutes, along with the increasing awareness about diabetes, is impelling the market growth. This is also leading to the rise in the demand for metformin hydrochloride as it is specified as a first-line treatment upon diagnosis.
• There is a rise in the employment of metformin hydrochloride as it is preferred as an initial pharmacological therapy for type 2 diabetes due to its efficacy, safety profile, and low cost as compared to other antidiabetic drugs.

Metformin Hydrochloride News

The report covers the latest developments, updates, and trends impacting the global metformin hydrochloride market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in metformin hydrochloride production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the metformin hydrochloride price trend.

Latest developments in the metformin hydrochloride industry:

• In 19 February 2024, IOL Chemicals & Pharmaceuticals declared that its product metformin hydrochloride has been approved by the Center for Drug Evaluation (CDE) of National Medical Products Administration (NMPA). This will enable the company to export metformin hydrochloride in China market.
• In 13 March 2024, Theon Pharma announced the launch of a combination drug like linagliptin, dapagliflozin, and metformin hydrochloride (SR). The combination is indicated in adults with type 2 diabetes mellitus (T2DM).

Product Description

Metformin hydrochloride is a biguanide antihyperglycemic that is treated for glycemic control among individuals suffering from type 2 diabetes mellitus. It acts by declining the quantity of glucose that is absorbed by the body from various food items. It is available as a tablet, an extended-release tablet, and a liquid solution. It is also beneficial for the body’s natural reaction to insulin, a natural substance that regulates blood glucose levels.

Apart from this, metformin hydrochloride inhibits mitochondrial complex, which triggers the activation of adenosine 5′- monophosphate—activated protein kinase (AMPK). It is a preferred choice for individuals who are type 2 diabetes obese patients. In line with this, it is used off-label for insulin resistance in polycystic ovary syndrome (PCOS).

Regional Coverage

The report provides a detailed analysis of the metformin hydrochloride market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the metformin hydrochloride price trend.

Global Metformin Hydrochloride Price

The report offers a holistic view of the global metformin hydrochloride pricing trends in the form of metformin hydrochloride price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of metformin hydrochloride but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed metformin hydrochloride demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Metformin Hydrochloride Price

Metformin hydrochloride prices in Europe notably in the country like Germany faced fluctuations on account of numerous factors. The country observed price changes for the product during the Q1 of 2024. In January, prices were increased due to geopolitical tensions, logistical challenges, and diminishing inventories. On the other hand, the market price was influenced by factors like high inflation and lowered demand from end-use sectors in fourth quarter of 2023.

This analysis can be extended to include detailed metformin hydrochloride price information for a comprehensive list of countries.

North America Metformin Hydrochloride Price

The metformin hydrochloride prices in North America in Q1 2024 underwent significant fluctuations influenced by various factors. Despite these fluctuations, the overall pricing environment for the product remained positive. A major driver behind these market fluctuations was the heightened demand from downstream industries, particularly pharmaceuticals and healthcare. Apart from this, the market encountered difficulties throughout the Q4 of 2023, characterized by fluctuations. There was a notable price decline at the quarter’s commencement, resulting in an increase in November and December.

Specific metformin hydrochloride historical data within the United States and Canada can also be provided.

Middle East and Africa Metformin Hydrochloride Price

The report explores the metformin hydrochloride pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on metformin hydrochloride prices for countries can also be provided.

Asia Pacific Metformin Hydrochloride Price

In the Asia Pacific region, the metformin hydrochloride pricing trends in Q1 2024 experienced significant fluctuations owing to various factors, leading to notable price changes. Overall, the market sentiment was positive, with prices showing a consistent incline throughout the quarter. In January 2024, there was a steady rise in demand of the product, which continued to gain momentum through March, showcasing a recovery in market sentiment. On the other hand, in December 2023, the market was shaped by two key influencing factors such as a lack of sufficient domestic production capacity and the moderation of inflation provided relief to consumers.

This metformin hydrochloride price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Metformin Hydrochloride Price

The analysis of metformin hydrochloride prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of metformin hydrochloride pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting metformin hydrochloride price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The metformin hydrochloride price charts ensure our clients remain at the forefront of the industry.