Europe Biguanides Market | Grows at CAGR 2.35% by 2024

Europe Biguanides Market

Europe Biguanides Market Overview:

European region has a high prevalence of diabetes. Due to variables such as the growing geriatric population in Europe and the rise in overweight and obese population, unhealthy diets and physical inactivity, the number of diabetic patients in Europe has risen enormously in recent years. As diabetes can possibly raise the risk of cardiac illness, it must handle well by seeking appropriate treatments at periodic intervals. Type 2 population in most European countries accounts for about 90% of the diabetic population.

According to the WHO, the European region had about 27 million diabetes in 2018. Biguanides have become a pillar of type 2 diabetes management and are the first-line medicine to treat the disease.

Europe Biguanides Market Scope of the Report:

The market is segmented by drug metformin and by geography.

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Europe Biguanides Market Key trends.

Diabetes prevalence increases among all ages in the European region:

Diabetes prevalence increases among all ages in the European region, mostly due to physical inactivity and obesity. Obesity accounts for about 65-80% of the region s fresh Type 2 diabetes instances. In most European nations, over one in five adults is obese. This is primarily owing to their unhealthy diet. Nearly 25% of their total daily energy intake in European countries comes straight from sugar, the main cause of obesity, and future type 2 diabetes. Since most of the diabetic communities in this region are Type 2 and Biguanides considered the first line drugs for Type 2 patients, the region s market for these drugs is huge.

Germany to dominate the Europe Biguanides Market:

In Europe biguanide market, Germany accounts for nearly 46 percent of total market value in 2018. By 2024, Germany s biguanide market is anticipated to rise marginally. There is a moderate CAGR of 0.3% during the forecast period. Russia accounts for the forecast period largest CAGR of 14.99%. This is primarily owing to the growing amount of Type 2 patients. In 2018, the European biguanide market is USD 1161.3 million and is anticipated to experience a CAGR of 2.35% over the forecast period.

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Europe Biguanides Market Competitive Landscape:

Biguanides are regarded the first-line treatment for type 2 diabetes patients. Many companies have a global presence manufacturing Metformin drug. Thus, there is no specific business segmenting metformin market share.

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