Pharmacy Usual Items - Morocco

Morocco

Highlights

Revenue in the Pharmacy Usual Items market is projected to reach US$1.18bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.96%, resulting in a market volume of US$1.30bn by 2029.
In global comparison, most revenue will be generated China (US$48.05bn in 2024).
In relation to total population figures, per person revenues of US$30.88 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Pharmacy Usual Items market in Morocco is experiencing significant growth and development. Customer preferences are shifting towards a greater emphasis on health and wellness, leading to increased demand for pharmacy products. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the market. Customer preferences in Morocco are evolving to prioritize health and wellness. As awareness about the importance of maintaining good health increases, consumers are seeking out pharmacy products to support their well-being. This includes a wide range of items such as vitamins, supplements, over-the-counter medications, and personal care products. The convenience of purchasing these items from pharmacies, which are often located in easily accessible locations, further drives customer preference for this market. Trends in the Pharmacy Usual Items market in Morocco reflect the growing demand for health and wellness products. Pharmacies are expanding their product offerings to cater to the evolving needs of consumers. This includes stocking a wider variety of vitamins and supplements, as well as natural and organic products. Additionally, there is a growing trend towards personalized healthcare, with pharmacies offering services such as health consultations and medication management. These trends are driving the growth of the market as consumers increasingly rely on pharmacies as a one-stop destination for their health and wellness needs. Local special circumstances in Morocco also contribute to the development of the Pharmacy Usual Items market. The country has a well-established healthcare system, with a significant portion of the population relying on pharmacies for their primary healthcare needs. Pharmacies in Morocco often serve as the first point of contact for minor ailments and provide advice and guidance to consumers. This close relationship between pharmacies and consumers fosters trust and loyalty, further driving the demand for pharmacy products. Underlying macroeconomic factors also play a role in the growth of the Pharmacy Usual Items market in Morocco. The country has experienced steady economic growth in recent years, resulting in an expanding middle class with increased purchasing power. As disposable incomes rise, consumers are able to allocate more of their budget towards health and wellness products, driving the demand for pharmacy items. Additionally, the government's focus on improving healthcare access and infrastructure further supports the growth of the market. In conclusion, the Pharmacy Usual Items market in Morocco is experiencing significant growth and development due to shifting customer preferences towards health and wellness, as well as local special circumstances and underlying macroeconomic factors. As the market continues to evolve, pharmacies in Morocco are well-positioned to meet the growing demand for pharmacy products and services.

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.