Other Pharmaceuticals - Morocco

Morocco

The revenue in the Other Pharmaceuticals market in Morocco is estimated to reach US$256.90m in 2024.
It is anticipated that the revenue will display an annual growth rate (CAGR 2024-2029) of 4.18%, leading to a market volume of US$315.30m by 2029.
When comparing globally, United States is expected to generate the highest revenue, amounting to US$260.50bn in 2024.
Morocco's Other Pharmaceuticals market is experiencing a surge in demand for traditional herbal medicines.

Key regions: China, Europe, Australia, United States, Germany

Market

Region

Region comparison

Currency

Analyst Opinion

The Other Pharmaceuticals market in Morocco has been experiencing steady growth over the past few years.

Customer preferences: Customers in Morocco are increasingly seeking out alternative pharmaceutical products, such as herbal supplements and traditional medicines. This trend is driven by a growing interest in natural and holistic approaches to healthcare.

Trends in the market: The Other Pharmaceuticals market in Morocco has seen a rise in demand for products that address specific health concerns, such as digestive issues and sleep disorders. Additionally, there has been a growing interest in products that promote overall wellness and vitality.

Local special circumstances: Morocco has a rich history of traditional medicine, which has contributed to the popularity of alternative pharmaceutical products in the country. Additionally, the Moroccan government has implemented policies to support the development of the pharmaceutical industry, which has helped to drive growth in the market.

Underlying macroeconomic factors: Morocco's economy has been growing steadily in recent years, which has contributed to increased consumer spending on healthcare products. Additionally, the country's young and growing population has created a large and expanding market for pharmaceutical products.

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.