Market Insights Health Medical Technology Medical Devices

Other Medical Devices - Morocco

Morocco

The Other Medical Devices market market in Morocco is expected to achieve a revenue of US$243.50m by the year 2024.
It is projected to experience a compound annual growth rate (CAGR 2024-2029) of 6.07%, leading to a market volume of US$326.90m by 2029.
When compared globally, the United States is anticipated to generate the highest revenue of US$72,780.00m in the year 2024.
Morocco is experiencing a rising demand for innovative medical devices, as the country focuses on improving healthcare infrastructure.

Key regions: United Kingdom, China, Netherlands, Europe, Italy

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Analyst Opinion

The Other Medical Devices market in Morocco is witnessing significant growth due to several factors. Customer preferences for advanced medical devices, increasing healthcare expenditure, and the presence of local special circumstances are driving the market expansion. Additionally, underlying macroeconomic factors such as population growth and rising healthcare awareness contribute to the market's development. Customer preferences play a crucial role in the growth of the Other Medical Devices market in Morocco. Consumers are increasingly seeking technologically advanced medical devices that offer improved accuracy, efficiency, and ease of use. This preference for advanced devices is driving manufacturers to innovate and introduce new products in the market. Additionally, customers are also prioritizing the quality and reliability of medical devices, leading to an increased demand for internationally recognized brands. Trends in the market indicate a growing adoption of digital and connected medical devices. The integration of technology in medical devices allows for real-time monitoring, remote patient management, and improved data analysis. This trend is particularly relevant in the field of telemedicine, where the use of connected devices enables healthcare professionals to remotely monitor patients and provide timely interventions. The demand for such devices is expected to continue growing as telemedicine becomes more widespread in Morocco. Local special circumstances in Morocco also contribute to the development of the Other Medical Devices market. The country has a growing aging population, which increases the demand for medical devices that cater to the specific needs of elderly individuals. Additionally, the government has been focusing on improving healthcare infrastructure and services, creating a favorable environment for the growth of the medical devices market. The presence of local manufacturing capabilities also provides opportunities for domestic production and reduces reliance on imports. Underlying macroeconomic factors further support the growth of the Other Medical Devices market in Morocco. The country has been experiencing steady economic growth, which translates into increased healthcare expenditure. As the population grows and becomes more aware of healthcare needs, the demand for medical devices is expected to rise. Additionally, government initiatives to improve healthcare access and quality contribute to the market's expansion. In conclusion, the Other Medical Devices market in Morocco is witnessing growth driven by customer preferences for advanced devices, increasing healthcare expenditure, and the presence of local special circumstances. The adoption of digital and connected devices, the aging population, and government initiatives further contribute to the market's development. With favorable macroeconomic factors, the market is expected to continue expanding in the coming years.

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.