Pharmacies - Morocco | Statista Market Forecast

The Pharmacies market in Morocco is expected to reach a projected revenue of US$2.06bn in 2024.
It is anticipated to show an annual growth rate (CAGR 2024-2029) of 2.91%, leading to a market volume of US$2.38bn by 2029.
When compared globally, United States is projected to generate the highest revenue, with US$387.30bn in 2024.
In terms of per person revenues, in 2024, each individual in Morocco is expected to generate US$53.91.
The Moroccan pharmacy market is experiencing a surge in demand for traditional herbal remedies and natural healthcare products.

Definition:
Pharmacies are physical or digital places where mainly pharmaceuticals and medical products are sold. Additionally, they also sell other items that are generally found in a pharmacy, such as food supplements, cosmetic products, and other health-related goods. A large proportion of pharmaceuticals are only available on prescription; the rest of the product range of pharmacies is sold over the counter (OTC). Besides selling products, pharmacies also advise customers, inform them about undesirable effects of the products, and detect possible interactions with other medicines.

Structure:
The Pharmacies market consists of two markets: Prescriptions Drugs and OTC Products. The Prescription Drugs market covers all products – mainly pharmaceuticals – that are only available on prescription. The OTC Products market comprises all products that are sold over the counter (OTC), including pharmaceuticals, medical devices, and other items that are generally found in a pharmacy.

Additional information:
The KPIs shown include revenue, revenue growth, average revenue per pharmacy, average revenue per capita, number of pharmacies, pharmacy density, users, and the online sales share for the OTC Products market. Revenues are generated through offline and online spending by (B2C) consumers and include VAT. B2B and B2G sales as well as other pharmaceutical sales through hospitals or retail stores, such as supermarkets, are not included.
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Prescription pharmaceuticals
Prescription medical products
OTC pharmaceuticals
OTC medical products
Pharmacy-usual items

Services such as vaccinations
Sales through hospitals or retail stores

The Pharmacies market in Morocco has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the Pharmacies market in Morocco have shifted towards a greater emphasis on health and wellness. Consumers are becoming more conscious of their health and are seeking out products and services that promote well-being. This has led to an increased demand for pharmaceutical products, vitamins, and supplements. Additionally, customers are increasingly looking for personalized and convenient healthcare solutions, such as online pharmacy services and home delivery options. Trends in the market have also played a role in the growth of the Pharmacies market in Morocco. One notable trend is the increasing prevalence of chronic diseases, such as diabetes and cardiovascular diseases. As the population ages and lifestyles change, the demand for medications to treat and manage these conditions has risen. Pharmacies have responded to this trend by expanding their product offerings and providing specialized services for patients with chronic diseases. Another trend in the market is the growing popularity of natural and alternative medicines. Many consumers are seeking out herbal remedies and traditional treatments as alternatives to conventional pharmaceuticals. Pharmacies have capitalized on this trend by stocking a wider range of natural and alternative products, and by providing information and advice to customers on their use. Local special circumstances have also contributed to the growth of the Pharmacies market in Morocco. The country has a well-developed healthcare system, with a high number of healthcare professionals and a strong regulatory framework. This has created a favorable environment for the establishment and operation of pharmacies. Additionally, Morocco has a large and growing middle class, which has increased the demand for healthcare products and services. Underlying macroeconomic factors have also played a role in the development of the Pharmacies market in Morocco. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has allowed more people to afford healthcare products and services, including pharmaceuticals. Additionally, the government has implemented policies to improve access to healthcare, which has further boosted demand for pharmacy services. In conclusion, the Pharmacies market in Morocco has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing emphasis on health and wellness, the prevalence of chronic diseases, the popularity of natural and alternative medicines, the favorable local environment, and the positive macroeconomic conditions have all contributed to this development. As these factors continue to drive demand, the Pharmacies market in Morocco is expected to continue its growth trajectory.

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.

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

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.