Vaccines - Morocco | Statista Market Forecast

In Morocco, the revenue in the Vaccines market is estimated to reach US$68.38m by 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of -1.85%, leading to a market volume of US$62.29m by 2029.
When compared globally, United States is projected to generate the highest revenue in the market, amounting to US$29.12bn in 2024.
Morocco has seen a significant increase in vaccine production, leading to improved access and availability for its population.

Definition:
This market covers vaccines against infectious diseases. They help to prevent diseases, usually through active immunization. Vaccines against infectious diseases transmitted by viruses (e.g., hepatitis A and B or COVID-19) and bacteria (e.g., typhoid fever or meningococcus) are included.

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: Pfizer, GlaxoSmithKline, Merck & Co, Sanofi, Moderna, AstraZeneca

Vaccines against infectious diseases
Prophylactic and therapeutic vaccines
Flu vaccines
COVID-19 vaccines

Sera and gammaglobulins
Antivirals
Antibiotics

Morocco, a country located in North Africa, is experiencing a steady growth in the vaccines market.

Customer preferences: The Moroccan population has become more aware of the importance of vaccines, leading to an increase in demand for preventive healthcare. The country's vaccination program, which is run by the Ministry of Health, has also contributed to the growth of the market.

Trends in the market: One of the major trends in the vaccines market in Morocco is the increasing demand for new and innovative vaccines. The market has seen a rise in the number of imported vaccines, particularly those for diseases such as meningitis, influenza, and pneumococcal diseases. Additionally, the market has seen a shift towards combination vaccines which offer protection against multiple diseases in a single shot.

Local special circumstances: Morocco has a large population of young people, which has contributed to the growth of the vaccines market. The country has a high birth rate, and with a growing population, the demand for vaccines is expected to increase further. Additionally, Morocco has a high incidence of infectious diseases, which has led to an increased focus on preventive healthcare.

Underlying macroeconomic factors: The growth of the vaccines market in Morocco can be attributed to several underlying macroeconomic factors. The country has a stable political environment, which has encouraged foreign investment in the healthcare sector. Additionally, the government has implemented several policies aimed at improving healthcare access and quality, which has contributed to the growth of the market. Finally, the country's strategic location has made it an attractive destination for pharmaceutical companies looking to expand into the African market. In conclusion, the vaccines market in Morocco is experiencing steady growth due to the increasing demand for preventive healthcare, the trend towards new and innovative vaccines, and the country's young population. Additionally, the stable political environment, government policies, and strategic location have contributed to the growth of the market.

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.

As of March 2023, more than 13 billion COVID-19 vaccine doses had been administered worldwide. Wide-spread vaccine availability, increasing herd immunity, and lower case numbers led to renewed hope and a feeling of normality in 2023. However, especially during the winter seasons and with the potential emergence of new variants of the virus (like Omicron in 2021-2022), tracking of coronavirus cases repeatedly becomes a focus for the public. Thus, there is a level of uncertainty about what developments the winter season 2023/2024 might bring.