Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Mongolia has been experiencing steady growth in recent years.
Customer preferences: Mongolian customers have shown a growing preference for analgesics purchased from pharmacies. This can be attributed to the increasing awareness among consumers about the importance of purchasing genuine and safe medications. Pharmacies provide customers with access to a wide range of analgesics, including both over-the-counter and prescription medications, ensuring that customers can find the most suitable product for their needs. Additionally, pharmacies often have qualified pharmacists who can provide advice and guidance to customers, further enhancing the appeal of purchasing analgesics from these establishments.
Trends in the market: One key trend in the Analgesics (Pharmacies) market in Mongolia is the rising demand for non-opioid analgesics. This can be attributed to the global trend of reducing opioid consumption due to concerns about addiction and misuse. Non-opioid analgesics, such as nonsteroidal anti-inflammatory drugs (NSAIDs) and acetaminophen, are increasingly preferred by both healthcare professionals and consumers. This trend is also driven by the increasing prevalence of chronic pain conditions, as non-opioid analgesics are often considered safer for long-term use. Another trend in the market is the growing popularity of online pharmacies. The convenience and accessibility of online shopping have led to an increase in the number of consumers purchasing analgesics online. Online pharmacies offer a wide range of products, competitive prices, and the convenience of doorstep delivery. This trend is particularly relevant in rural areas of Mongolia where access to physical pharmacies may be limited.
Local special circumstances: One of the unique factors that influence the Analgesics (Pharmacies) market in Mongolia is the nomadic lifestyle of some of the population. Mongolia has a significant nomadic population, and access to healthcare services, including pharmacies, can be challenging in remote areas. This has led to the development of mobile pharmacies that cater to the needs of nomadic communities. These mobile pharmacies travel to different locations, providing essential medications, including analgesics, to those who may not have easy access to traditional pharmacies.
Underlying macroeconomic factors: The growing Analgesics (Pharmacies) market in Mongolia can be attributed to several underlying macroeconomic factors. Firstly, Mongolia has been experiencing economic growth in recent years, leading to an increase in disposable income among the population. This has resulted in higher healthcare spending, including the purchase of analgesics. Additionally, the government of Mongolia has been taking steps to improve the healthcare system in the country, including the expansion of healthcare facilities and the introduction of regulations to ensure the quality and safety of medications. These initiatives have contributed to the growth of the Analgesics (Pharmacies) market by increasing consumer trust in the healthcare system and encouraging more people to seek medical treatment and purchase medications from pharmacies. In conclusion, the Analgesics (Pharmacies) market in Mongolia is developing due to the increasing customer preference for purchasing analgesics from pharmacies, the rising demand for non-opioid analgesics, the growing popularity of online pharmacies, the unique circumstances of the nomadic lifestyle, and the underlying macroeconomic factors of economic growth and government initiatives to improve the healthcare system.
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.
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