Global Metformin-Pioglitazone Market Size By Type (Tablets: 15 Mg Pioglitazone/1000 Mg Metformin Hcl, Tablets: 30 Mg Pioglitazone/1000 Mg Metformin Hcl), By Application (Drug Store and Hospital), By Geographic Scope And Forecast

Metformin-Pioglitazon Market Size And Forecast

Metformin-Pioglitazon Market size was valued at USD 811.75 Million in 2020 and is projected to reach USD 1,127.78 Million by 2028, growing at a CAGR of 4.37% from 2021 to 2028.

The rising prevalence of type 2 diabetes increases the demand for Metformin-Pioglitazon market. The growing number of approvals for oral antidiabetic drugs, highlights the rising adoption of oral antidiabetic drugs, thus demand for Metformin-Pioglitazone is also expected to increase. The Global Metformin-Pioglitazon Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Metformin-Pioglitazon Market Definition

Metformin and pioglitazone are a combination of two oral diabetes drugs that help control blood sugar levels. Metformin and pioglitazone are used together with proper diet and exercise to treat high blood sugar levels caused by type 2 diabetes for people who do not use daily insulin injections. Metformin and pioglitazone are not used for the treatment of type 1 diabetes. It is also not used to treat diabetic ketoacidosis, a complication of diabetes that occurs when the body produces high levels of blood acid called ketones.Pioglitazone works by helping the body use insulin better. Metformin reduces the absorption of sugar from the stomach, reduces the release of stored sugar from the liver, and helps the body use sugar better. Controlling high blood sugar helps prevent heart disease, vision loss, and kidney disease. Proper management of diabetes can also reduce the risk of heart attack and stroke. Metformin / pioglitazone oral tablets are available in branded and generic versions.

Global Metformin-Pioglitazon Market Overview

The rising prevalence of type 2 diabetes increases the demand for Metformin-Pioglitazon market. According to the International Diabetes Federation (IDF), type 2 diabetes is the most common type of diabetes, accounting for around 90% of all diabetes cases. The total number of people with diabetes is predicted to rise to 578 million by 2030 and to 700 million by 2045. Type 2 diabetes is a disease in which the blood sugar level or blood sugar level is too high. It is generally characterized by insulin resistance, where the body does not respond completely to insulin. Because insulin does not work properly, blood sugar levels continue to rise and more insulin is released. In some people with type 2 diabetes, this can eventually lead to pancreas exhaustion, less insulin produced by the body, and even higher blood sugar levels. According to the International Diabetes Federation (IDF), 73 million adults are living with diabetes in the Middle East and North Africa. This figure is estimated to increase to 95 million by 2030 and 136 million by 2045. In addition, 48 million adults in the region are living with Impaired Glucose Tolerance (IGT), which places them at increased risk of developing type 2 diabetes. This number is estimated to increase to 36 million by 2030 and 81 million by 2045. Thus, with the rise in prevalence of type 2 diabetes worldwide, demand for Metformin-Pioglitazone is expected to increase in the years to come.

The various side effects along with the FDA black box warning label could discourage people from buying the medication, hampering market growth. The Metformin-Pioglitazone medication comes with a black box warning. Black box warnings, warn public and healthcare providers of serious adverse events such as injuries and deaths. These warnings notify the public of serious, permanent or fatal side effects. These are the most serious warnings from the Food and Drug Administration (FDA). This might discourage people who need medication from taking it. The growing number of approvals for oral antidiabetic drugs, highlights the rising adoption of oral antidiabetic drugs, thus demand for Metformin-Pioglitazone is also expected to increase.

Global Metformin-Pioglitazon MarketSegmentation Analysis

The Global Metformin-Pioglitazon Market is segmented on the basis of Type, Application, and Geography.

Metformin-Pioglitazon Market, By Type

• Tablets15 Mg Pioglitazone/1000 Mg Metformin Hcl• Tablets30 Mg Pioglitazone/1000 Mg Metformin Hcl

Based on Type, the market is bifurcated into Tablets15 Mg Pioglitazone/1000 Mg Metformin Hcl, Tablets30 Mg Pioglitazone/1000 Mg Metformin Hcl. Tablets15 Mg Pioglitazone/1000 Mg Metformin Hcl accounted for the largest market share in 2020, and is projected to grow at the highest CAGR of 4.65% during the forecast period. People with diabetes need treatment to control the amount of sugar in their blood. This is because proper control of blood sugar levels reduces the risk of later complications. Some people can control their blood sugar by making changes in their diet, but for some people, medication is given along with changes in diet.

Metformin-Pioglitazon Market, By Application

• Drug Store• Hospital

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On the basis of Application, the Global Metformin-Pioglitazon Market has been segmented into Drug Store and Hospital. Drug Store accounted for the largest market share in 2020, and is projected to grow at the highest CAGR during the forecast period. Hospital was the second-largest market in 2020, and it is projected to grow at a highest CAGR.

Metformin-Pioglitazon Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

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On the basis of regional analysis, the Global Metformin-Pioglitazon Market is classified into North America, Europe, Asia Pacific, and Rest of the world. Asia Pacific accounted for the largest market share and North America was the second-largest market in 2020. Significant increases have been observed in East Asia and South Asia, the highest number of people with diabetes was found in these areas; 106 million and 86 million; respectively. The global prevalence of diabetes among adults aged 20-79 is estimated at 8.8% of the global population in 2015 including 415 million. The Western Pacific region also includes the highest number of people with diabetes (153.2 million). Also, more than half (56%) of all people with diabetes are found living in the South East Asia Region or the Western Pacific Region. High diabetes rates have been observed mainly in the Southeast Asian countries with the highest populations – Indonesia, the Philippines, Thailand and Vietnam – together with a population of over 500 million.

Key Players

The “Global Metformin-Pioglitazon Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Mylan, Teva Pharmaceutical Industries Ltd, Takeda Pharmaceuticals, Sandoz, Aurobindo Pharma, Macleods, and Torrent Pharmaceuticals, and others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In October 2021, Sandoz, a Novartis division, has successfully completed the acquisition of GSK’s cephalosporin antibiotics business.

• In September, 2020, Mylan has acquired Aspen Pharmacare’s thrombosis business-related intellectual property and commercialization rights in Europe.

• In November, 2019, Mylan N.V. and Pfizer Inc. announced that the name of the new company to be formed by the planned combination of Mylan and Upjohn, a division of Pfizer, will be Viatris.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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