Metformin Hydrochloride Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trends analysis of Metformin Hydrochloride in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Metformin Hydrochloride Price Trends for the July-September of 2023

Asia

Metformin Hydrochloride, a widely used medication to treat type 2 diabetes, experienced downward wavering price trends during the third quarter of the year 2023. Asian countries, particularly India and China, are the firm bearers of global pharmaceutical requirements. Thus, the price trends here dictate the trends in the global pharma markets. The sluggishness in the metformin price trends was also mimicked in other major pharma markets in Europe and the USA. The primary reason for the downfall in metformin prices in India was the government’s intervention in regulating the prices of essential drugs.

The National Pharmaceutical Pricing Authority (NPPA), India, has gradually capped the retail prices for around 200 medicines in order to make them available for all the different economic sections of the population. The metformin prices were also capped in July’s regulation, which resulted in the gradual sliding of metformin prices in the Indian market. Since the international queries declined for the Chinese market, the metformin prices in China also reduced during the said period.

Europe

The European metformin market followed the Asian market trends during the discussed period of Q3’23. The primary reason behind the fall in metformin prices was the dimmed demands from the end consumer sector. Also, this depreciation in the metformin price graph reflected the European market’s dependence on cheap Asian exports. Overall, falling price trends were observed.

North America

The metformin prices in the American market replicated the dipping trends of the Asian and European markets. The feeble demands and the slowness in the global pharma market pushed the metformin price curve down in the region.

Analyst insight

According to Procurement Resource, Metformin Hydrochloride prices are expected to waver in a narrow range going forward, given the reduced international demand and the various price regulations introduced by the governments.

Procurement Resource provides latest prices of Metformin Hydrochloride. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.