BMI View: Our revised forecasts show that the Moroccan medical device market will record high single-digit growth, both in local currency and US dollar terms, as Morocco's economic outlook remains positive despite a slump in growth in 2016. The expansion of universal health insurance coverage, external funding and investment in healthcare infrastructure will continue to drive market growth.
|Total (USDmn)||% Total Market||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)|
|Orthopaedics & prosthetics||16.0||5.8||0.5||155.6||4.6|
|Other medical devices||76.5||27.9||2.3||746.3||22.0|
Latest Updates And Key Forecasts
We have revised our forecasts slightly downwards and now forecast that the Moroccan medical device market will grow at a CAGR of 7.8% in local currency terms over the 2015-2020 period, which will bring the total market value to MAD3.9bn in 2020. In US dollar terms, we forecast a 2015-2020 CAGR of 8.3%, taking the market from USD273.9mn in 2015 to USD408.2mn by 2020.
Imports supply approximately 92% of the market and we expect steady growth on the back of continued market expansion. Imports decreased by 2.9% y-o-y to USD253.0mn in the 12 months to December 2015. Imports increased at a 2010-2015 USD CAGR of 5.6%.
Despite recent weak performance in the small export sector, we expect growth to resume in 2016. In the 12 months to December 2015, exports fell to USD23.1mn, a y-o-y decrease of 4.2%. Consumables, the largest product area accounting for almost half of total exports, grew by 1.9% to USD10.9mm.
The African Development Bank (AfDB) and Morocco signed a loan agreement in June 2016 amounting to USD134.65mn to improve social protection and inclusion in the country. This will support government's effort to improve healthcare access and modernise health facilities.
The Morocco Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in Morocco provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Morocco Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Morocco, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in Morocco.
- Target Business Opportunities in the Morocco Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Morocco.
- Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.
BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.