Other OTC Pharmaceuticals - Morocco

Morocco

Highlights

In 2024, the revenue generated in the Other OTC Pharmaceuticals market in Morocco amounts to US$71.19m.
It is projected to experience an annual growth rate of 1.75% (CAGR 2024-2029).
When comparing this market globally, the United States leads with a revenue of US$7.17bn in 2024.
Taking into account the total population, the per person revenue in Morocco is US$1.86 in 2024.
Morocco's market for Other OTC Pharmaceuticals is experiencing a surge in demand for traditional herbal remedies.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other OTC Pharmaceuticals market in Morocco is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in the Other OTC Pharmaceuticals market in Morocco are shifting towards self-medication and over-the-counter products. This is primarily due to the convenience and accessibility of these products, as well as the increasing awareness and knowledge among consumers about the benefits of self-care. Customers are seeking products that can provide relief for common ailments such as headaches, colds, and allergies, without the need for a prescription. As a result, there is a growing demand for over-the-counter pharmaceuticals in Morocco.Trends in the market also contribute to the development of the Other OTC Pharmaceuticals market in Morocco. One notable trend is the increasing availability of a wide range of over-the-counter products in pharmacies and retail outlets. This is driven by the expansion of distribution networks and the entry of new players in the market. Additionally, there is a growing trend towards natural and herbal remedies, as consumers seek alternative and holistic approaches to healthcare. This trend is reflected in the increasing availability and popularity of herbal supplements and traditional medicines in the market.Local special circumstances in Morocco also play a role in the development of the Other OTC Pharmaceuticals market. The country has a rapidly growing population, with a large proportion of young people. This demographic profile creates a significant market for over-the-counter products, as young people are more likely to engage in self-medication and seek immediate relief for common ailments. Furthermore, the government in Morocco has implemented policies to promote the development of the healthcare sector, including the expansion of healthcare infrastructure and the improvement of access to healthcare services. These initiatives contribute to the growth of the Other OTC Pharmaceuticals market in the country.Underlying macroeconomic factors also influence the development of the Other OTC Pharmaceuticals market in Morocco. The country has experienced steady economic growth in recent years, which has resulted in an increase in disposable income and purchasing power among consumers. This enables them to afford over-the-counter pharmaceutical products and drives demand in the market. Additionally, the government's focus on healthcare and social development has led to increased healthcare spending, further supporting the growth of the market.In conclusion, the Other OTC Pharmaceuticals market in Morocco is developing due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards self-medication, the availability of a wide range of products, the growing demand for natural remedies, the young demographic profile, government initiatives, and economic growth all contribute to the growth and development of the market.

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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, using advanced statistical methods.

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. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.