Anti-Rheumatic Drugs - Mongolia

Mongolia

The Anti-Rheumatic Drugs market in Mongolia is projected to witness a significant increase in revenue, with an estimated amount of US$1.31m by the year 2024.
This market is anticipated to experience a steady growth rate, specifically a compound annual growth rate (CAGR) of 0.30% from 2024 to 2029.
As a result, the market volume is expected to reach US$1.33m by 2029.
When comparing the global market, it is noteworthy that United States is predicted to generate the highest revenue in this sector.
In 2024 alone, the revenue United States is projected to be a staggering US$34,700.00m.
Mongolia's demand for anti-rheumatic drugs is steadily rising as the country's aging population faces an increasing prevalence of rheumatic diseases.

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

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Analyst Opinion

The demand for Anti-Rheumatic Drugs in Mongolia has been on the rise in recent years.

Customer preferences: Mongolian customers prefer Anti-Rheumatic Drugs that are affordable yet effective in treating rheumatoid arthritis. They also tend to choose medications that have minimal side effects and can be easily obtained from local pharmacies.

Trends in the market: The Anti-Rheumatic Drugs market in Mongolia has been growing steadily due to an increase in the number of people suffering from rheumatoid arthritis. The rise in the aging population and sedentary lifestyles has contributed to the increase in the prevalence of the disease. As a result, there has been a surge in demand for Anti-Rheumatic Drugs in the country.

Local special circumstances: Mongolia has a relatively small population, and the healthcare system is still developing. There is a limited number of hospitals and clinics in the country, and patients in rural areas often have limited access to medical care. This has resulted in many people relying on traditional medicine to treat their ailments, including rheumatoid arthritis. However, as the country's healthcare system continues to improve, more people are turning to Western medicine, including Anti-Rheumatic Drugs, for treatment.

Underlying macroeconomic factors: Mongolia has a growing economy, with a focus on mining and agriculture. However, the country still faces challenges such as poverty and income inequality. As a result, many people may not be able to afford expensive medications, which has led to a demand for affordable Anti-Rheumatic Drugs. Additionally, Mongolia has a harsh climate, with long, cold winters. This can exacerbate symptoms of rheumatoid arthritis, leading to an increased demand for treatment options.

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.