Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - Mongolia

Mongolia

The projected revenue for the Other Vaccines market in Mongolia is expected to reach US$2.41m by 2024.
It is anticipated that the market will experience an annual growth rate of 9.94% from 2024 to 2029, resulting in a market volume of US$3.87m by the end of 2029.
When compared globally, United States is predicted to generate the highest revenue in the market, amounting to US$24,730.00m in 2024.
Mongolia's growing focus on public health and disease prevention has led to an increased demand for other vaccines in the country.

Key regions: Australia, Brazil, United Kingdom, Europe, Canada

Market

Region

Region comparison

Currency

Analyst Opinion

The Other Vaccines market in Mongolia has been showing positive growth in recent years.

Customer preferences: Mongolian consumers have been increasingly concerned about preventing infectious diseases, leading to a higher demand for vaccines. This trend is in line with the global focus on preventative healthcare.

Trends in the market: The Other Vaccines market in Mongolia has been growing due to an increase in government initiatives to improve healthcare infrastructure. Additionally, there has been a rise in private healthcare providers, which has further driven demand for vaccines. The market has also been positively impacted by a growing middle class with more disposable income to spend on healthcare.

Local special circumstances: Mongolia is a vast country with a low population density, which presents unique challenges in terms of healthcare delivery. The government has been investing in mobile healthcare units to reach remote areas, which has resulted in greater access to vaccines for the population.

Underlying macroeconomic factors: The Mongolian economy has been growing steadily in recent years, which has led to increased government spending on healthcare. Additionally, the country has a young population, which has contributed to a growing demand for healthcare services. However, the country is still facing challenges in terms of healthcare infrastructure and access to healthcare in rural areas. Overall, the positive growth in the Other Vaccines market in Mongolia is expected to continue 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.