Digital Treatment & Care - Mongolia

Mongolia

The Digital Treatment & Care market in Mongolia is projected to reach a revenue of US$8.40m in 2024.
With an expected annual growth rate (CAGR 2024-2029) of 11.99%, the market volume is projected to reach US$14.80m by 2029.
The user penetration is expected to be 10.92% in 2024 and is predicted to increase to 14.14% by 2029.
The average revenue per user (ARPU) is expected to be US$22.00.
In global comparison, United States is projected to generate the highest revenue of US$29,910.00m in 2024.
In Mongolia, the digital treatment and care market is rapidly expanding, with an increasing number of healthcare providers adopting digital technologies to improve patient outcomes.

Key regions: Japan, India, United States, Canada, Italy

Definition:

The Digital Treatment & Care market includes devices and apps that help users monitor and analyze lifestyle-related aspects and improve their overall health. It includes user and revenue trends for four categories: digital care management, connected Biosensors, and online pharmacies.

Structure:

The Digital Treatment & Care market is divided into four markets:

Connected Biosensors: Biosensors that collect information on a variety of health parameters and vital signs of an individual (blood pressure, temperature, blood glucose, weight) by reading or measuring this data and transmitting it via electrical signals.

Digital Care Management: Various apps that help users monitor/detect/analyze physical health conditions. Contraception and fertility apps provide users with guidelines on self-care, family planning, and birth control, raise their awareness, and offer monitoring functions. Medication checker apps provide users with useful dosage intake guidelines, drug interaction information, and personal medication records.

Online Pharmacies: Over-the-counter medicine that can be purchased without a medical prescription through online sales channels. The market comprises analgesics, cold and cough medication, digestives and intestinal remedies, skin treatment products, and vitamins and minerals.

Digital Therapeutics (DTx): Software-based therapeutic interventions that deliver evidence-based therapeutic content to patients to prevent, manage, or treat a medical condition. DTx can be used to treat a wide range of conditions, including chronic diseases, mental health disorders, and substance use disorders.

Additional Information:

The digital care management user base includes paying and non-paying customers. The revenue figures only include revenues generated from paid apps offering premium options and from in-app purchases; revenues from app downloads and advertising are not included. The data only reflects B2C revenues; B2B and C2C revenues are not covered.

Market

Region

Region comparison

Currency

Analyst Opinion

The Digital Treatment & Care market in Mongolia is experiencing significant growth and development, driven by various factors shaping the healthcare landscape in the country.

Customer preferences: Customers in Mongolia are increasingly turning to digital solutions for their treatment and care needs, seeking convenience, accessibility, and efficiency in managing their health. The demand for contraception/fertility apps, medication checker apps, online pharmacies, smart health devices such as thermometers, blood glucose meters, and blood pressure monitors, as well as social alarms, is on the rise. These digital tools offer users the ability to monitor their health parameters, access medication information, order prescriptions online, and receive timely assistance in case of emergencies.

Trends in the market: In Mongolia, there is a growing trend towards the adoption of digital therapeutics, which are software-based interventions for the prevention and management of various health conditions. This trend is driven by the increasing prevalence of chronic diseases in the country, such as diabetes and hypertension, where digital solutions can play a crucial role in monitoring and controlling these conditions. Additionally, the rising awareness about the importance of preventive healthcare and early intervention is driving the demand for smart health devices that enable individuals to track their health metrics in real-time.

Local special circumstances: Mongolia's vast geographical landscape and dispersed population present unique challenges in delivering healthcare services to remote areas. Digital Treatment & Care solutions offer a way to bridge this gap by providing virtual consultations, remote monitoring, and telemedicine services. This is particularly beneficial for individuals living in rural areas who may have limited access to healthcare facilities. Furthermore, the increasing penetration of smartphones and internet connectivity in Mongolia is enabling greater adoption of digital health solutions among the population.

Underlying macroeconomic factors: The economic growth and increasing disposable income in Mongolia are contributing to the expansion of the Digital Treatment & Care market. As individuals have more purchasing power, they are willing to invest in digital health solutions that offer convenience and quality care. Moreover, the government's focus on healthcare infrastructure development and technology integration is creating a favorable environment for the growth of the digital health sector in the country. These macroeconomic factors are driving investments in digital treatment and care technologies, leading to a transformation in the way healthcare services are delivered and accessed in Mongolia.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.