MIDDLE EAST AND AFRICA BIGUANIDE MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

MIDDLE EAST AND AFRICA BIGUANIDE MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

The Middle East and Africa Biguanide Market is set to witness a CAGR of more than 3.6% during the forecast period. The market is estimated to reach a value of more than USD 346 million by 2027.

The COVID-19 pandemic positively impacted the Middle East and Africa 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. Patients with diabetes require many corrections throughout the day to maintain nominal blood glucose levels, such as administering additional insulin or ingesting 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.

Key Market TrendsRising diabetes prevalence

The diabetes population in the Middle East and African region is expected to rise by more than 3.5% during the forecast period.

Biguanides are medicines developed to stabilize and control blood glucose levels amongst people with diabetes. Biguanides are commonly used to manage diabetes. Biguanides have been potential candidates for treating diabetic patients affected by SARS-CoV-2 infection during the COVID-19 pandemic. 73 million adults (20-79) are living with diabetes in the IDF MENA Region in 2021. This figure is estimated to increase to 95 million by 2030. 48 million adults in the IDF MENA Region are living with Impaired Glucose Tolerance, which places them at increased risk of developing type 2 diabetes. Diabetes is responsible for 796,000 deaths in the IDF MENA Region in 2021. USD 33 billion was spent on healthcare for people with diabetes in 2021.

The Middle East and African region had witnessed an alarming increase in the prevalence of diabetes, in recent years, 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 to maintain nominal blood glucose levels, such as administering additional insulin or ingesting additional carbohydrates by monitoring their blood glucose levels.

Governments in the ME have identified the threat of diabetes and started to respond with various policies, initiatives, and programs. Six out of 15 countries in this region still do not have a national operational action policy for diabetes. Many countries still do not have a national strategy to reduce overweight, obesity, and physical inactivity, which are important risk factors for diabetes. Most counties have fully implemented national diabetes treatment guidelines. However, constant measures are being taken to minimize diabetic complications.

Owing to the rising rate of obesity, growing genetic factors for type-2 diabetes, the increasing prevalence, and the aforementioned factors, the market will likely continue to grow.

Saudi Arabia is expected to register the highest growth rate in the Middle East and African Biguanide Market

Saudi Arabia is expected to register the highest growth rate in the Middle East and African Biguanide Market of around 6.5% in the forecast period.

More than one in ten people in Saudi Arabia are now living with diabetes and the prevalence of the disease will almost double by 2045, according to the report by the International Diabetes Federation (IDF). The IDF report mentioned that 4.27 million people in Saudi Arabia which has a population of about 34.8 million have diabetes, while 1.86 million people have the disease but are yet to be diagnosed. This figure will increase to 5.6 million by 2030 and further to 7.5 million by 2045.

The growing incidence, prevalence, and progressive nature of the disease have encouraged the development of new drugs to provide additional treatment options for diabetic patients. Non-insulin treatments, used as first-line therapies for patients suffering from type 2 diabetes, currently capture more than half the sales in the anti-diabetic market. Oral antidiabetic agents work in various ways to reduce blood sugar levels in people with type 2 diabetes; some stimulate insulin secretion by the pancreas, and others improve the responsiveness of cells to insulin or prevent glucose production by the liver. Others slow the absorption of glucose after meals.

Saudi Government, in July 2022, announced that Saudi Arabia has seen growing demand for quality healthcare services spurred by changes including an increasing and aging population, and a growing prevalence of lifestyle diseases such as diabetes and obesity. The government and private sector are both involved to work on healthcare entities, certifications, and regulations. The government is taking steps to have 100 percent of Saudi citizens covered by insurance and is working towards ensuring affordability, access, and quality digital healthcare and primary care with cost-effectiveness.

The market is expected to grow due to the aforementioned factors during the forecast period.

Competitive Landscape

The Middle East and African Biguanide market is fragmented, with manufacturers like Takeda, Merck, Sanofi, GlaxoSmithKline, Bristol-Myers Squibb, and Boehringer Ingelheim Pharmaceuticals having a global market presence and the market is highly competitive due to generic drugs manufacturers' presence.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.