Antiviral Drugs - Mongolia

Mongolia

The Antiviral Drugs market in Mongolia is poised to witness significant growth in the coming years.
According to projections, the revenue in this market is expected to reach US$2.09m by 2024.
Furthermore, it is anticipated that the market will continue to grow at an annual growth rate (CAGR 2024-2029) of 1.40%.
This growth trajectory will lead to a market volume of US$2.24m by 2029.
In the global context, it is interesting to note that United States is expected to generate the highest revenue in the Antiviral Drugs market.
With an estimated revenue of US$30,640.00m in 2024, United States will dominate this market.
Despite its small market size, Mongolia has seen an increasing demand for antiviral drugs due to the rise in infectious diseases.

Key regions: Brazil, India, Australia, United States, United Kingdom

Market

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Analyst Opinion

The demand for antiviral drugs in Mongolia has been increasing steadily in recent years.

Customer preferences: Mongolia has a relatively small population, and the majority of the population lives in rural areas. The country has a high incidence of infectious diseases, which has led to an increased demand for antiviral drugs. The most common infectious diseases in Mongolia are hepatitis B, hepatitis C, and HIV/AIDS.

Trends in the market: The antiviral drugs market in Mongolia is expected to continue to grow in the coming years. The government has been taking steps to improve healthcare infrastructure and increase access to healthcare services, which is expected to drive demand for antiviral drugs. In addition, the growing awareness among the population about the importance of preventive healthcare is also expected to contribute to the growth of the market.

Local special circumstances: Mongolia is a landlocked country, which means that it is heavily dependent on imports for its pharmaceutical needs. The country has a relatively small pharmaceutical industry, which means that most of the antiviral drugs used in the country are imported. This can lead to supply chain issues and price fluctuations, which can impact the availability and affordability of antiviral drugs in the country.

Underlying macroeconomic factors: Mongolia has a developing economy, and the government has been taking steps to diversify the economy and reduce its dependence on the mining sector. The healthcare sector is one of the areas that the government is focusing on, which is expected to drive growth in the antiviral drugs market. In addition, the country has a young population, which is expected to drive demand for healthcare services in the coming years.

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.