Other OTC Pharmaceuticals (Pharmacies) - Morocco

Morocco

Highlights

Revenue in the Other OTC Pharmaceuticals market is projected to reach US$66.12m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.63%, resulting in a market volume of US$71.70m by 2029.
In global comparison, most revenue will be generated United States (US$4.98bn in 2024).
In relation to total population figures, per person revenues of US$1.73 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other OTC Pharmaceuticals (Pharmacies) market in Morocco is experiencing steady growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in Morocco are increasingly turning to over-the-counter (OTC) pharmaceuticals for their healthcare needs. This shift in preference can be attributed to several factors. Firstly, there is a growing awareness among consumers about the benefits of self-medication and the convenience of purchasing OTC drugs from pharmacies. This trend is driven by the desire for quick and easy access to medications without the need for a prescription. Additionally, customers are seeking more affordable healthcare options, and OTC pharmaceuticals often provide a cost-effective solution compared to prescription drugs.

Trends in the market: One of the key trends in the Other OTC Pharmaceuticals (Pharmacies) market in Morocco is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the potential side effects of conventional medications and are seeking alternative options. This has led to a rise in the availability and popularity of herbal and natural OTC products in pharmacies across the country. Another trend is the growing demand for OTC medications for chronic conditions such as allergies, pain relief, and digestive issues. As people become more proactive in managing their health, they are looking for OTC solutions to alleviate common symptoms and improve their overall well-being.

Local special circumstances: Morocco has a well-established pharmacy network, with pharmacies playing a crucial role in the healthcare system. Pharmacies are easily accessible and widely distributed throughout the country, making them the go-to destination for OTC pharmaceuticals. The presence of trained pharmacists in these establishments also adds to the credibility and trust that customers have in purchasing OTC medications from these outlets. Furthermore, Morocco has a growing middle class with increasing disposable income, which has contributed to the rising demand for OTC pharmaceuticals.

Underlying macroeconomic factors: The growth of the Other OTC Pharmaceuticals (Pharmacies) market in Morocco is also influenced by several macroeconomic factors. The country has experienced stable economic growth in recent years, leading to an improvement in living standards and increased healthcare spending. Additionally, the government has implemented policies to promote the local pharmaceutical industry, which has resulted in the production of a wide range of OTC medications. These factors, combined with the country's favorable regulatory environment, have created a conducive market for the growth of the Other OTC Pharmaceuticals (Pharmacies) market in Morocco. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Morocco is witnessing growth due to changing customer preferences, emerging trends, and local special circumstances. The increasing demand for OTC medications, particularly natural and herbal remedies, is driving the market forward. The presence of a well-established pharmacy network and a growing middle class with higher disposable income are additional factors contributing to the market's development. Furthermore, stable economic growth and government initiatives to promote the local pharmaceutical industry are underlying macroeconomic factors that support the growth of the market.

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.