Connected Biosensors - Morocco

Morocco

Highlights

In Morocco, the revenue in the market Connected Biosensors is projected to reach US$67.99m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 6.44%, resulting in a projected market volume of US$92.86m by 2029.
The user penetration is estimated to be 1.87% in 2024 and is expected to increase to 1.88% by 2029.
The average revenue per user (ARPU) is expected to be US$95.32.
When compared globally, China is expected to generate the highest revenue of US$4.49bn in 2024.
Morocco is witnessing a growing demand for connected biometric sensors in the digital health market, as the country focuses on advancing healthcare technology.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Connected Biosensors market in Morocco is experiencing significant growth and development, driven by various factors shaping consumer preferences and market trends.

Customer preferences: Consumers in Morocco are increasingly seeking convenience and efficiency in healthcare monitoring, leading to a growing preference for Connected Biosensors such as smart thermometers, blood glucose meters, blood pressure meters, and social alarms. These devices offer real-time data tracking, remote monitoring capabilities, and easy integration with smartphones, aligning with the modern lifestyle needs of Moroccan consumers.

Trends in the market: One notable trend in the Connected Biosensors market in Morocco is the rising adoption of smart blood glucose meters among individuals managing diabetes. These devices provide accurate and instant glucose readings, empowering users to monitor their health more effectively. Additionally, the demand for smart thermometers is on the rise, especially in light of the global health crisis, as individuals prioritize early detection and monitoring of potential health issues.

Local special circumstances: Morocco's healthcare system is witnessing a shift towards digitalization and telemedicine, creating a conducive environment for the growth of Connected Biosensors market. The government's initiatives to promote digital health solutions and improve access to healthcare services are further driving the adoption of these innovative devices across the country. Moreover, the increasing awareness about preventive healthcare measures is encouraging individuals to invest in Connected Biosensors for proactive health monitoring.

Underlying macroeconomic factors: The economic stability and rising disposable income levels in Morocco are playing a crucial role in the expansion of the Connected Biosensors market. As more consumers have the financial means to invest in healthcare technology, the demand for smart devices is expected to continue growing. Additionally, the growing middle-class population and urbanization trends are contributing to the market growth by expanding the potential customer base for Connected Biosensors in the country.

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.