Anti-Hypertensive Drugs - Mongolia

Mongolia

In Mongolia, the revenue in the Anti-Hypertensive Drugs market is predicted to reach US$1.03m by 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of -0.39%, leading to a market volume of US$1.01m by 2029.
When compared globally, United States will generate the highest revenue in this market, amounting to US$12,290.00m in 2024.
Despite the high prevalence of hypertension in Mongolia, the market for anti-hypertensive drugs is still relatively underdeveloped.

Key regions: Japan, India, Italy, Brazil, South Korea

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Analyst Opinion

The Anti-Hypertensive Drugs market in Mongolia has been showing an upward trend in recent years.

Customer preferences: Mongolian customers have been increasingly aware of the importance of maintaining a healthy lifestyle and have shown a preference for preventive healthcare. As a result, the demand for anti-hypertensive drugs has been rising steadily.

Trends in the market: The market for anti-hypertensive drugs in Mongolia has been growing due to various factors. Firstly, the aging population has been a significant contributor to the growth of the market. Secondly, the increasing prevalence of hypertension in Mongolia has also driven the demand for anti-hypertensive drugs. Thirdly, the government's efforts to improve healthcare infrastructure and increase access to healthcare services have also contributed to the growth of the market.

Local special circumstances: Mongolia has a unique healthcare system, with a mix of traditional and modern medicine. This has led to a preference for herbal and traditional medicines among some Mongolian customers. However, the growing awareness of the importance of preventive healthcare has led to an increasing demand for modern medicines, including anti-hypertensive drugs.

Underlying macroeconomic factors: The Mongolian economy has been growing steadily in recent years, with a focus on developing the healthcare sector. The government has been investing in healthcare infrastructure and increasing access to healthcare services, which has contributed to the growth of the anti-hypertensive drugs market. Additionally, the increasing disposable income of the population has made healthcare more affordable and accessible, leading to a higher demand for anti-hypertensive drugs.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

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. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.