The global biguanide market is expected to show a considerable CAGR of more than 7.0% rate during the forecast period 2020-2026. Biguanide is a group of oral drugs used to treat type 2 diabetes. It works by reducing the amount of sugar released by the liver in the blood. In addition, it also improves the response of the body towards insulin. Metformin is the most common biguanide available in the global market. It is used as a first-line treatment for type 2 diabetes.