Drug Price Trends for METFORMIN ER

Average Pharmacy Cost for METFORMIN ER

These are average pharmacy acquisition costs (net of discounts) from a US national survey

Drug Name	NDC	Price/Unit ($)	Unit	Date
METFORMIN ER 1,000 MG GASTR-TB	00591-2412-19	0.47127	EACH	2025-06-18
METFORMIN ER 1,000 MG GASTR-TB	27241-0241-90	0.47127	EACH	2025-06-18
METFORMIN ER 1,000 MG GASTR-TB	47335-0306-88	0.47127	EACH	2025-06-18
METFORMIN ER 1,000 MG GASTR-TB	42571-0334-90	0.47127	EACH	2025-06-18

Market Analysis and Price Projections for Metformin ER

Last updated: January 2, 2025

Market Overview

The global metformin market, including the extended-release (ER) formulation, is experiencing significant growth driven by several key factors.

• Increasing Prevalence of Diabetes: The rising number of people living with type 2 diabetes, particularly in the Asia-Pacific region, is a major driver. As of 2021, over 140 million people in China and 135 million people in India were diagnosed with diabetes or prediabetes[1].
• Lifestyle Factors: The adoption of inactive lifestyles and the increasing obesity rates globally are contributing to the growth of the metformin market[3].

Market Size and Growth

• The global metformin hydrochloride market, which includes both standard and extended-release formulations, was valued at approximately USD 268.95 million in 2022 and is projected to reach USD 386.91 million by 2030, growing at a CAGR of 4.7% between 2023 and 2030[1].
• On a broader scale, the global metformin market was valued at USD 4,028 million in 2022 and is expected to reach USD 6,420.02 billion by 2030, with a CAGR of 6.0% during the forecast period[3].

Regional Market Leadership

• The Asia-Pacific region is expected to lead the global metformin hydrochloride market during the forecast period due to the high prevalence of type 2 diabetes in countries like China and India[1].

Product Types and Dosage

• Metformin ER is one of the key product types, offering extended-release formulations that provide better patient compliance and convenience. The market includes various dosage types such as 500mg, 750mg, 850mg, and 1g[3].

Distribution Channels

• The distribution of metformin ER occurs through multiple channels, including hospital pharmacies, retail pharmacies, and online pharmacies. This diverse distribution network ensures widespread availability of the drug[3].

Pricing Analysis

• The prices of metformin ER vary based on the dosage, quantity, and distribution channel. For example, a 30-tablet supply of metformin ER 750mg can cost between $16.78 and $28.21, depending on the pharmacy and any discounts applied[2].
• Despite recalls due to quality issues, the unit price of metformin ER has decreased. For instance, after recalls, the unit price decreased by 19.61% while prescription fills increased by 8.9%[4].

Quality and Safety Concerns

• The generic metformin market has faced issues with quality and safety, including the presence of carcinogenic impurities like NDMA. However, FDA-announced recalls have been effective in reducing these impurities, and there has been no significant impact on prescription fills or unit prices[4].

Opportunities and Challenges

• Expansion in Emerging Markets: There is a significant opportunity for pharmaceutical companies to expand their presence in emerging markets where diabetes is on the rise. These markets offer untapped potential for increased metformin sales[3].
• Technological Advancements: Advancements in drug delivery systems and formulations can create opportunities for improved metformin products, enhancing patient compliance and convenience[3].
• Side Effects and Safety Concerns: Despite being generally well-tolerated, metformin can cause side effects such as gastrointestinal disturbances and rare cases of lactic acidosis. These safety concerns may limit its widespread use[3].
• Patent Expiry and Generic Competition: The expiry of patents and the rise of generic competition can impact the market dynamics, potentially reducing prices but also introducing quality control issues[3].

Price Projections

• The overall drug price inflation rate for 2025 is projected to be stable, suggesting that prices for metformin ER are likely to remain relatively stable. For example, the price per unit for metformin ER 500mg 24-hour tablets is projected to be around $0.05699 to $0.08433, depending on the quantity and vendor[5].

Key Takeaways

• The global metformin market, including the ER formulation, is growing due to increasing diabetes prevalence and lifestyle changes.
• Asia-Pacific is expected to lead the market growth.
• Pricing varies based on dosage and distribution channels, with a trend of stable to decreasing prices despite quality issues.
• Opportunities exist in emerging markets and through technological advancements, but safety concerns and generic competition are challenges.

FAQs

Q: What is the projected market size of the global metformin hydrochloride market by 2030? A: The global metformin hydrochloride market is projected to reach around USD 386.91 million by 2030[1].

Q: Which region is expected to lead the global metformin hydrochloride market? A: The Asia-Pacific region is expected to lead the global metformin hydrochloride market during the forecast period[1].

Q: What are the common dosages available for metformin ER? A: Common dosages for metformin ER include 500mg, 750mg, 850mg, and 1g[3].

Q: How have recalls affected the quality and price of metformin ER? A: Recalls have been effective in reducing carcinogenic impurities, and despite these recalls, the unit price of metformin ER has decreased while prescription fills have increased[4].

Q: What are the key opportunities for growth in the metformin market? A: Key opportunities include expansion in emerging markets and technological advancements in drug delivery systems[3].

Sources

1. Zion Market Research - Metformin Hydrochloride Market Size, Share and Forecast 2030
2. Drugs.com - Metformin Prices, Coupons, Copay Cards & Patient Assistance
3. Data Bridge Market Research - Metformin Market Size, Share, Statistics & Industry Forecast By 2030
4. The American Journal of Managed Care - Safety vs Price in the Generic Drug Market: Metformin
5. DrugPatentWatch - Latest drug prices and trends for NDC 42291-0497