Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Mongolia

Mongolia

The COVID-19 Vaccines market in Mongolia is estimated to generate a revenue of US$5.78m by the year 2024.
It is projected to experience an annual growth rate (CAGR 2024-2029) of -18.33%, leading to a market volume of US$2.10m by 2029.
In comparison to other countries worldwide, United States is expected to generate the highest revenue, reaching US$4,389,000.00k in 2024.
Mongolia is actively seeking partnerships with international vaccine manufacturers to expedite the distribution of COVID-19 vaccines in the country.

Key regions: United Kingdom, Germany, France, South Korea, Italy

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Analyst Opinion

The COVID-19 Vaccines market in Mongolia has been steadily developing since the beginning of the pandemic.

Customer preferences: As in many other countries, the demand for COVID-19 vaccines in Mongolia is very high. The population is eager to receive the vaccine as a means of protecting themselves and their loved ones from the virus. The government has been actively promoting the vaccination campaign and has made it a priority to vaccinate as many people as possible.

Trends in the market: One trend that has emerged in the COVID-19 Vaccines market in Mongolia is the increasing availability of vaccines. Initially, there were concerns about the availability of vaccines in the country due to its remote location and limited resources. However, with the help of international organizations and donations from other countries, Mongolia has been able to secure a steady supply of vaccines.Another trend is the increasing use of technology in the distribution of vaccines. Mongolia has been using an electronic system to track the distribution and administration of vaccines. This has helped to ensure that vaccines are distributed fairly and efficiently.

Local special circumstances: Mongolia has a unique set of circumstances that have affected the COVID-19 Vaccines market. One of the biggest challenges has been the country's remote location and harsh climate. This has made it difficult to transport and store vaccines, particularly in rural areas.Another challenge has been the country's limited healthcare infrastructure. Mongolia has a relatively small healthcare system, which has been stretched thin by the pandemic. This has made it difficult to distribute and administer vaccines to the population.

Underlying macroeconomic factors: The COVID-19 Vaccines market in Mongolia is also influenced by a number of macroeconomic factors. The country's economy has been hit hard by the pandemic, with many people losing their jobs and businesses struggling to stay afloat. This has made it difficult for some people to afford the vaccine.Additionally, Mongolia has a relatively low vaccination rate compared to other countries in the region. This has led to concerns about the country's ability to control the spread of the virus and the potential for new variants to emerge.Overall, the COVID-19 Vaccines market in Mongolia is developing in response to the unique circumstances of the country. While there are challenges to overcome, the government and international organizations are working to ensure that vaccines are distributed fairly and efficiently to the population.

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.