Sensory Organ Drugs - Morocco | Statista Market Forecast

The Sensory Organ Drugs market in Morocco is set to achieve a remarkable revenue of US$13.78m by 2024.
This projection indicates a promising future for the market.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of -3.14%, resulting in a market volume of US$11.74m by 2029.
These figures demonstrate the potential for continued expansion and development in the country's pharmaceutical industry.
When considering the global landscape, it is worth noting that United States is expected to generate the highest revenue in the Sensory Organ Drugs market, reaching a staggering US$13.98bn in 2024.
This further highlights the significant role United States plays in the pharmaceutical sector.
However, Morocco's steady growth and potential should not be underestimated, as it presents a promising market for Sensory Organ Drugs market.
Morocco is witnessing a growing demand for sensory organ drugs due to an aging population and increasing prevalence of eye and ear-related health issues.

Definition:
This market covers ophthalmologicals and otologicals, i.e., drugs for the sensory organs eye and ear, respectively. Ophthalmologicals are used to treat diseases of the eye such as wet age-related macular degeneration, geographic atrophy, and glaucoma. Typical dosage forms are eye drops or injections into the eye (intravitreal) and, in the case of otologicals, through the eardrum into the middle ear.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Regeneron Pharmaceuticals, Novartis, Bayer, Alcon, AbbVie

Ophthalmologicals
Otologicals

Respiratory system
Ophthalmic devices, such as diagnostic and surgical devices or glasses and contact lenses
Dermatology, skin treatment
Painkillers, analgesics

The Sensory Organ Drugs market in Morocco has been experiencing steady growth in recent years.

Customer preferences: Moroccan consumers have been increasingly seeking out medications for sensory organ issues such as hearing loss, vision problems, and vertigo. This is likely due to an aging population and increasing awareness of the importance of sensory health.

Trends in the market: The market for sensory organ drugs in Morocco has been growing steadily, with an increasing number of pharmaceutical companies entering the market and launching new products. Additionally, there has been a trend towards more natural and alternative treatments for sensory organ issues, such as herbal remedies and acupuncture.

Local special circumstances: Morocco has a relatively large population of elderly citizens, who are more likely to experience sensory organ issues. Additionally, the country has a high prevalence of certain diseases that can lead to sensory organ problems, such as diabetes and hypertension.

Underlying macroeconomic factors: Morocco has a growing economy and a relatively stable political environment, which has helped to support the growth of the pharmaceutical industry. Additionally, the government has been investing in healthcare infrastructure and increasing access to healthcare services, which has helped to drive demand for sensory organ drugs.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.