Biguanide Market to Hit USD 18.7 Billion by 2031 Due to Rising Diabetes Rates and Broader Therapeutic Uses
[London, 29 July 2025] – The global biguanide market is projected to grow from USD 10.4 billion in 2024 to USD 18.7 billion by 2031, reflecting a compound annual growth rate (CAGR) of 8.4%, according to Clearview Market Insights (CVMI). Metformin continues to lead as the most prescribed oral treatment for type 2 diabetes and is increasingly being used in PCOS, oncology, and geriatric care.
“Metformin is no longer just a diabetes drug — it’s a platform molecule for multiple chronic and preventative applications,” said Dr. Salim Patel, Therapeutics Lead at CVMI.
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Asia-Pacific remains the largest and fastest-growing regional market due to high diabetes incidence and extensive procurement by public health systems. North America and Europe demonstrate strong demand for extended-release and combination formulations. Companies like Teva, Sun Pharma, and Merck KGaA are leading innovations in packaging, delivery, and new indications.
Ongoing innovations include metformin implants, AI-driven dosing platforms, and new analogs targeting metabolic and mitochondrial pathways. Meanwhile, WHO-backed procurement and regulatory flexibility are enhancing access in lower-income countries.
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