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Dublin, December 31, 2021 (Global News Service) – “China Metformin Market Survey Report 2021-2025” Report has been added to ResearchAndMarkets.com supply.
Analysts predict that with the relief of COVID-19, sales of metformin in the Chinese market will show a recovery growth from 2021 to 2025.
According to analysts’ market research, sales of metformin in the Chinese market have 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 of metformin in the Chinese market will drop to 707 million yuan in 2020, a year-on-year decrease of 4.19%. The CAGR of metformin sales in the Chinese market from 2016 to 2020 is 7.01%.
Metformin is the first-line treatment for type 2 diabetes, especially for overweight people. Metformin was originally developed by Merck Sharp & Dohme (trade name: GLUCOPHAGE).
GLUCOPHAGE was first listed in France in 1957 and in China in 1994. Since then, some generic drugs have also been listed in China. According to market research by analysts, by 2020, there will be several manufacturers in China’s metformin market, of which Shanghai Squibb Pharmaceuticals Co., Ltd. will occupy the largest market share in China and the United States.
In addition, the number of diabetic patients in China ranks first in the world. The overall prevalence of adult diabetes is 12.8%. Type II diabetes accounts for 90% of diabetic patients…
The full story on Benzinga.com
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