Dermatological Drugs - Morocco

Morocco

The Dermatological Drugs market in Morocco is set to witness a significant growth in revenue, reaching a projected value of US$11.45m in 2024.
This growth is expected to continue at an annual growth rate (CAGR 2024-2029) of 5.95%, resulting in a market volume of US$15.29m by 2029.
When compared globally, it is worth noting that United States is anticipated to generate the highest revenue in this market, with a staggering value of US$11,670.00m in 2024.
Morocco is experiencing a growing demand for dermatological drugs due to an increasing awareness of skincare and a rising prevalence of skin conditions.

Key regions: United Kingdom, Canada, Japan, Europe, China

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Analyst Opinion

The demand for dermatological drugs in Morocco has been on the rise in recent years.

Customer preferences: Moroccan consumers are becoming increasingly conscious of their skin health and are willing to invest in dermatological drugs to treat various skin conditions. In addition, there is a growing trend towards natural and organic products, which has led to an increase in demand for dermatological drugs made from natural ingredients.

Trends in the market: One of the major trends in the dermatological drugs market in Morocco is the increasing use of topical drugs. These drugs are applied directly to the affected area and are more effective than oral medications. There is also a growing demand for dermatological drugs that treat specific skin conditions such as acne, eczema, and psoriasis. Manufacturers are responding to these trends by developing new products that cater to these specific needs.

Local special circumstances: Morocco has a hot and dry climate, which can lead to a range of skin conditions such as dryness, sunburn, and skin cancer. This has led to a high demand for dermatological drugs that treat these conditions. In addition, Morocco has a large tourism industry, which has led to an increase in demand for dermatological drugs among tourists.

Underlying macroeconomic factors: Morocco is a rapidly developing country with a growing middle class. This has led to an increase in disposable income, which has in turn led to an increase in demand for dermatological drugs. In addition, the government has been investing heavily in the healthcare sector, which has led to an increase in the availability of dermatological drugs. Finally, Morocco has a large pharmaceutical industry, which has led to the development of a range of high-quality dermatological drugs.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. 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. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

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 market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.