In Vitro Diagnostics - Morocco | Statista Market Forecast

The In Vitro Diagnostics market market in Morocco is expected to witness substantial growth in the coming years.
By 2024, the projected revenue for this market is estimated to be US$115.60m.
This indicates a positive trend in the market's performance.
Furthermore, it is anticipated that the revenue will continue to grow steadily with an annual growth rate of 3.73% from 2024 to 2029.
This growth rate is expected to result in a market volume of US$138.80m by 2029.
These figures highlight the potential for significant expansion in the In Vitro Diagnostics market market in Morocco.
In a global context, it is noteworthy that the United States is expected to generate the highest revenue compared to other countries.
In 2024, the projected revenue for the In Vitro Diagnostics market market the United States is estimated to be US$30.10bn.
This indicates the dominance of the United States in this market.
Overall, the In Vitro Diagnostics market market in Morocco is poised for growth and presents lucrative opportunities for investors and businesses operating in this sector.
The projected revenue figures demonstrate the potential for substantial economic development in this industry.
In Morocco, the demand for in vitro diagnostics in the medical technology market is steadily increasing due to the country's growing healthcare infrastructure and focus on improving patient care.

Definition:
The market In Vitro Diagnostics (IVD) consists of medical instruments and accessories used to perform tests with the help of biological samples. In Vitro Diagnostics provide valuable information used for detection, prognosis, prevention, and therapeutic monitoring of diseases.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Roche Diagnostics, Abbott Laboratories, Danaher, Siemens Healthineers.
Further information on the key players can be found in the Market Shares boxes.

Molecular diagnosis
Immunoassays
Clinical chemistry
Microbiology
Hematology

Services (i.e., treatment expenses)
Imaging diagnostics

The In Vitro Diagnostics market in Morocco is experiencing significant growth and development.

Customer preferences: Moroccan customers are increasingly seeking reliable and accurate diagnostic tests to aid in the diagnosis and treatment of various diseases. They are looking for advanced technologies that can provide quick and accurate results, as well as tests that are cost-effective and easily accessible. Customers also value tests that can be performed at the point of care, eliminating the need for lengthy laboratory procedures.

Trends in the market: One of the key trends in the In Vitro Diagnostics market in Morocco is the increasing adoption of molecular diagnostics. These tests allow for the detection of genetic variations and biomarkers associated with specific diseases, enabling personalized medicine and targeted therapies. The demand for molecular diagnostics is driven by the need for more accurate and timely diagnosis, especially in the case of infectious diseases and cancer. Another trend in the market is the growing use of point-of-care testing (POCT) devices. These devices enable rapid testing and provide results within minutes, eliminating the need for samples to be sent to a laboratory. POCT devices are particularly beneficial in remote and rural areas where access to laboratory facilities is limited. The convenience and speed of POCT devices make them highly desirable for both healthcare providers and patients.

Local special circumstances: Morocco has a growing healthcare sector with increasing investments in healthcare infrastructure and facilities. The government has implemented various initiatives to improve healthcare access and quality, leading to an increased demand for diagnostic tests. Additionally, the country has a high burden of infectious diseases such as tuberculosis and hepatitis, which further drives the demand for diagnostic tests.

Underlying macroeconomic factors: Morocco's favorable economic conditions, including stable GDP growth and increasing healthcare expenditure, contribute to the development of the In Vitro Diagnostics market. The government's focus on healthcare reforms and the expansion of health insurance coverage also play a significant role in driving the demand for diagnostic tests. Furthermore, the country's strategic location as a gateway to Africa presents opportunities for international companies to enter the Moroccan market and expand their presence in the region. In conclusion, the In Vitro Diagnostics market in Morocco is experiencing growth and development due to customer preferences for reliable and accurate diagnostic tests, the adoption of molecular diagnostics and point-of-care testing devices, local special circumstances such as the high burden of infectious diseases, and favorable macroeconomic factors including stable economic conditions and government healthcare reforms.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. 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.

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 report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.