Market Insights Health Medical Technology

Medical Devices - Morocco

Morocco

The projected revenue in the Medical Devices market market in Morocco is expected to reach US$641.00m in 2024.
Among the various markets within the market, Cardiology_Devices is anticipated to be the largest, with a projected market volume of US$98.18m in the same year.
Looking ahead, the revenue is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 6.96%, leading to a market volume of US$897.20m by 2029.
It is worth noting that, in global comparison, the United States is expected to generate the highest revenue, amounting to US$179.80bn in 2024.
The demand for advanced medical devices in Morocco is on the rise, driven by the country's growing healthcare infrastructure and increasing focus on improving patient outcomes.

Key regions: Germany, Spain, Japan, United Kingdom, United States

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Analyst Opinion

The Medical Devices market in Morocco is experiencing steady growth due to several factors. Customer preferences in the country are shifting towards more advanced and innovative medical devices, driving the demand for these products. Additionally, local special circumstances and underlying macroeconomic factors are also contributing to the development of the market. Customer preferences in Morocco are increasingly focused on advanced medical devices that offer improved accuracy, efficiency, and patient comfort. With advancements in technology, customers are seeking devices that can provide more accurate diagnostics and treatment options. This has led to an increased demand for devices such as MRI machines, ultrasound scanners, and advanced surgical equipment. Additionally, customers are also looking for devices that are easy to use and require minimal maintenance, which has further fueled the demand for innovative medical devices. Trends in the Medical Devices market in Morocco are also being influenced by global and regional market trends. The growing prevalence of chronic diseases, such as cardiovascular diseases and diabetes, is driving the demand for medical devices that can help in the diagnosis, monitoring, and treatment of these conditions. This has led to an increased demand for devices such as blood glucose monitors, cardiac monitors, and insulin pumps. Furthermore, the aging population in Morocco is also contributing to the growth of the market, as older individuals require more medical devices for the management of age-related conditions. Local special circumstances in Morocco are also playing a role in the development of the Medical Devices market. The country has been investing in the improvement of its healthcare infrastructure, which includes the expansion of hospitals and healthcare facilities. This has created a greater need for medical devices to equip these facilities, leading to increased demand in the market. Additionally, the government has been focusing on promoting medical tourism in the country, which has further boosted the demand for advanced medical devices. Underlying macroeconomic factors in Morocco are also contributing to the growth of the Medical Devices market. The country has been experiencing steady economic growth, which has resulted in increased healthcare spending. This has allowed individuals and healthcare facilities to invest in more advanced medical devices. Furthermore, the government has implemented favorable policies to attract foreign investment in the healthcare sector, which has led to the entry of international medical device manufacturers in the market. This has increased competition and innovation in the market, further driving its growth. In conclusion, the Medical Devices market in Morocco is experiencing steady growth due to customer preferences for more advanced and innovative devices, as well as local special circumstances and underlying macroeconomic factors. The market is expected to continue developing as the demand for medical devices in the country continues to rise.

Methodology

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.