Medical Technology

In 2024, the projected revenue in the Medical Technology market market in Morocco is expected to reach US$737.40m.
Among the various markets within this market, Medical Devices is expected to be the largest, with a projected market volume of US$621.80m in the same year.
Looking ahead, the revenue is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 6.43% between 2024 and 2029.
This growth trajectory is expected to result in a market volume of US$1.01bn by 2029.
When compared globally, it is noteworthy that the United States is predicted to generate the highest revenue, amounting to US$211.10bn in 2024.
The Medical Technology market market in Morocco holds significant potential for growth and development within the industry.
Morocco's medical technology market is experiencing a surge in demand for telemedicine solutions due to the country's large rural population and limited access to healthcare facilities.

Definition:
The Medical Technology market covers devices and products used for prevention, diagnosis, and treatment of diseases. Next to pharmaceuticals, they form the most important category of medical products. The most well known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants.

Structure:
The Medical Technology market consists of two markets, In Vitro Diagnostics (IVD) and Medical Devices. The IVD market covers products used for medical laboratory testing of specimens derived from the human body. The Medical Devices market covers a broad range of products which are further marketed into medical specialties or types of application: Cardiology Devices, Diagnostic Imaging Devices, Orthopedic Devices, Ophthalmic Devices, and General & Plastic Surgery Devices. The Other Medical Devices market provides information on additional areas that are not covered by the main markets.

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: Medtronic, Johnson & Johnson, Abbott Laboratories, Siemens Healthineers.
Further information on the key players can be found in the Market Shares boxes.

Implants and prostheses
Assistive technology products (e.g., hearing aids, wheelchairs)
Clinical engineering products
Imaging devices
Products for laboratoy testing (IVD)
Active medical devices (i.e., operating with electrical energy)

Pharmaceuticals
Services (i.e., treatment expenses)
Consumer technologies, e.g., fitness trackers
Blood and transplants derived from the human body

The Medical Technology market in Morocco is experiencing significant growth and development. Customer preferences for advanced medical technology, along with local special circumstances and underlying macroeconomic factors, are driving this trend. Customer preferences in the Medical Technology market in Morocco are shifting towards more advanced and innovative products. Patients and healthcare providers are increasingly demanding state-of-the-art medical devices and equipment to improve patient outcomes and enhance the quality of healthcare services. This preference for advanced technology is fueled by the growing awareness of the benefits of modern medical devices, such as increased accuracy, efficiency, and patient comfort. Additionally, the rising incidence of chronic diseases and the aging population are driving the demand for medical technology solutions that can effectively address these healthcare challenges. The market is also witnessing several trends that are shaping its development. One of the key trends is the increasing adoption of digital health technologies. The integration of digital technologies, such as telemedicine, electronic health records, and remote patient monitoring, is revolutionizing healthcare delivery in Morocco. These technologies enable healthcare professionals to provide remote consultations, monitor patients' health conditions in real-time, and improve overall patient care. The adoption of these digital health solutions is driven by the need to overcome geographical barriers, improve access to healthcare services, and enhance patient engagement. Another trend in the Medical Technology market in Morocco is the focus on local manufacturing and production. The government has been actively promoting the development of a local medical technology industry to reduce reliance on imports and boost the domestic economy. This trend is supported by the availability of skilled labor, favorable investment policies, and the presence of specialized industrial zones. Local manufacturing not only contributes to job creation and economic growth but also ensures the availability of affordable medical technology solutions tailored to the local market's needs. Morocco's unique circumstances also play a role in the development of the Medical Technology market. The country's strategic location between Europe and Africa makes it an attractive hub for medical technology companies looking to expand their presence in both regions. The government's efforts to improve healthcare infrastructure, enhance medical education, and promote medical tourism further contribute to the market's growth. Additionally, Morocco's stable political environment and favorable business climate provide a conducive environment for investment and business development in the medical technology sector. Underlying macroeconomic factors are also driving the growth of the Medical Technology market in Morocco. The country's steady economic growth, increasing healthcare expenditure, and favorable demographic trends are creating a conducive environment for the market's expansion. Additionally, the government's commitment to healthcare reforms and the implementation of universal health coverage policies are expected to further boost the demand for medical technology solutions. In conclusion, the Medical Technology market in Morocco is experiencing significant growth and development. Customer preferences for advanced medical technology, the adoption of digital health solutions, the focus on local manufacturing, and Morocco's unique circumstances are driving this trend. Furthermore, underlying macroeconomic factors, such as economic growth and healthcare reforms, are contributing to the market's expansion.

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.