Inpatient Care - Mongolia

Mongolia

The Inpatient Care market in Mongolia is expected to generate revenue of US$156.20m by 2024.
This projection indicates an annual growth rate of 3.34% from 2024 to 2029, resulting in a market volume of US$184.10m by 2029.
In terms of global comparison, United States is projected to generate the highest revenue in the Inpatient Care market, reaching US$731.40bn in 2024.
Despite facing challenges in infrastructure and resources, Mongolia is making significant strides in expanding and improving its inpatient care facilities.

Key regions: United States, Germany, Brazil, United Kingdom, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The Inpatient Care market in Mongolia is experiencing significant growth due to several factors.

Customer preferences: Mongolian consumers are increasingly seeking high-quality medical care, which has led to a rise in demand for inpatient care services. The country has a rapidly aging population, which is also contributing to the growth of this market as elderly patients require more hospitalization and medical attention.

Trends in the market: One of the key trends in the Inpatient Care market in Mongolia is the shift towards modern and advanced medical facilities. The government has implemented several initiatives to improve the quality of healthcare in the country, which has led to an increase in the number of private hospitals and clinics. Additionally, there has been a rise in medical tourism, with patients from neighboring countries seeking treatment in Mongolia.

Local special circumstances: Mongolia is a vast country with a relatively small population, which has resulted in a shortage of medical professionals and facilities in rural areas. This has led to a concentration of medical resources in urban areas, which has contributed to the growth of the Inpatient Care market in these regions. Additionally, the harsh climate and geography of Mongolia have resulted in a high incidence of respiratory and cardiovascular diseases, which has further increased the demand for inpatient care services.

Underlying macroeconomic factors: The Mongolian economy has been growing steadily over the past few years, which has led to an increase in disposable income and healthcare spending. Additionally, the government has implemented several policies to encourage foreign investment in the healthcare sector, which has led to an increase in the number of private hospitals and clinics. However, the country still faces several challenges, including a shortage of medical professionals and infrastructure in rural areas, which could limit the growth of the Inpatient Care market in these regions.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on revenue received by hospitals from public or private sources, allocated to the country where the money is spent, including VAT if applicable.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach, based on a specific rationale for each market market. Next, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, public health spend, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.