Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Morocco

Morocco

The COVID-19 Vaccines market in Morocco is expected to reach a projected revenue of US$40.12m in 2024.
It is estimated that the market will experience an annual growth rate (CAGR 2024-2029) of -17.47%, resulting in a market volume of US$15.36m by 2029.
In comparison to other countries worldwide, United States is anticipated to generate the highest revenue, with a projected amount of US$4,389,000.00k in 2024.
Morocco is making significant progress in its COVID-19 vaccine rollout, ensuring access and distribution to its population.

Key regions: United Kingdom, Germany, France, South Korea, Italy

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Analyst Opinion

The COVID-19 Vaccines market in Morocco has been steadily developing since the introduction of vaccines in the country.

Customer preferences: Moroccan citizens have shown a strong interest in receiving COVID-19 vaccines, with a significant portion of the population willing to get vaccinated. This is due to the high level of trust in the healthcare system and the government's efforts to promote vaccination campaigns.

Trends in the market: The COVID-19 Vaccines market in Morocco has seen an increase in demand for vaccines, resulting in a rise in the number of doses administered. The government has been actively procuring vaccines from different manufacturers to meet the growing demand. Additionally, private healthcare providers have started offering vaccines to their patients.

Local special circumstances: Morocco's proximity to Europe has played a significant role in the development of the COVID-19 Vaccines market. The country has been able to procure vaccines from European countries, which has helped in meeting the growing demand. Additionally, the country has a well-established healthcare system, which has facilitated the distribution of vaccines to different regions.

Underlying macroeconomic factors: Morocco's economy has been significantly impacted by the COVID-19 pandemic. The government has had to allocate a significant portion of its budget towards healthcare and vaccine procurement. Additionally, the pandemic has resulted in a decline in economic activity, which has affected the purchasing power of citizens. Despite this, the government has continued to prioritize the vaccination campaign, which has helped in boosting the COVID-19 Vaccines market.

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.