Online Doctor Consultations - Mongolia

Mongolia

The projected revenue in the Online Doctor Consultations market for Mongolia is expected to reach US$635.30k in 2024.
This is projected to show an annual growth rate (CAGR 2024-2028) of 8.73%, resulting in a projected market volume of US$887.90k by 2028.
The user penetration is expected to be 0.79% in 2024 and is projected to hit 1.00% by 2028.
The average revenue per user (ARPU) is expected to amount to US$23.07.
In global comparison, it is important to note that most revenue will be generated in the United States, with a projected revenue of US$5,062.00m in 2024.
Mongolia's Online Doctor Consultations market is thriving, with a growing number of patients seeking convenient and accessible healthcare services.

Key regions: France, Europe, India, United States, United Kingdom

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Analyst Opinion

The Online Doctor Consultations market in Mongolia is experiencing significant growth and development, driven by various factors shaping the healthcare industry in the country.

Customer preferences: Customers in Mongolia are increasingly turning to online doctor consultations due to the convenience and accessibility it offers. With the vast rural areas in Mongolia, access to healthcare facilities can be limited, making online consultations a preferred choice for many. Additionally, the younger population, who are more tech-savvy, are driving the demand for digital health solutions in the country.

Trends in the market: One of the key trends in the Online Doctor Consultations market in Mongolia is the rise of digital fitness and well-being platforms. These platforms offer a wide range of services including virtual fitness classes, mental health counseling, and nutrition consultations, catering to the growing awareness and interest in holistic health among Mongolians. Moreover, the online doctor consultation segment is witnessing a surge as more people seek quick medical advice without the need to visit a physical clinic.

Local special circumstances: Mongolia's vast geography and nomadic lifestyle present unique challenges for the healthcare sector. Online doctor consultations provide a solution to bridge the gap between healthcare providers and patients, especially in remote areas where access to healthcare services is limited. The government's initiatives to promote telemedicine and digital health further support the growth of the Online Doctor Consultations market in Mongolia.

Underlying macroeconomic factors: The growing internet penetration and smartphone usage in Mongolia are key macroeconomic factors driving the expansion of the Online Doctor Consultations market. As more people gain access to the internet and digital devices, the potential customer base for online health services also increases. Additionally, the COVID-19 pandemic has accelerated the adoption of telemedicine solutions globally, including in Mongolia, where people are increasingly turning to online platforms for healthcare needs.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from 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 GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. 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, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.