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Research and Markets: Morocco's Drug Market Expenditure Was Estimated at US$1.38Bn in 2008, and is Expected to Reach US$1.89Bn by 2013
DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/562ed0/morocco_pharmaceut) has announced the addition of the "Morocco Pharmaceuticals and Healthcare Report Q1 2009" report to their offering.
Morocco Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Morocco's pharmaceuticals and healthcare industry.
Morocco is the second-largest pharmaceutical manufacturing industry in Africa (after South Africa) and strategically bridges the gap between Europe, the Middle East and sub-Saharan Africa. These factors, combined with its efficient pharmaceutical approvals process, put it in a strong position within the African market. Morocco's drug market expenditure was estimated at US$1.38bn in 2008, and is expected to reach US$1.89bn by 2013.
In 2008, Moroccans spent an average of just US$43.70 per person on pharmaceuticals, up 16% from US$37.0 per person in 2007. Though this figure represents an increase - and considerably higher than the 2006 level of US$30.90 per person - it remains low by global standards. Considerable credit for this increase can be put down to the introduction of compulsory health insurance in 2006, a development that has allowed many Moroccans to meaningfully participate in the drug market for the first time. Increasing membership of this scheme will raise medicine consumption. However, concerns remain over the long-term financial viability of Morocco's social security schemes.
Despite the undisputed benefits of increasing access to healthcare among the working population, Morocco still has a long way to go to improve services. During the 1990s, poor government investment in public healthcare resulted in the rapid growth of the private healthcare sector in urban areas. New strategies include giving pharmacists greater responsibility in preferentially dispensing generic drugs, as well as reducing corruption and setting up autonomous management boards to remove government involvement in administration. Improved regulations should attract foreign generic pharmaceuticals looking to capitalise on this expanding market, with Indian drugmaker Ranbaxy already benefitting from manufacturing and selling products for use in the public health sector.
There is a growing trend to become more efficient in supplying medicines throughout the country. This was highlighted in November 2008 by the announcement of an ambitious program to regulate national medicine supplies using eight distribution bases instead of one, and could ensure that every health provider has appropriate access to drugs. Additionally, the Ministry of Health has adopted a transparent protocol for listing all available medicines in hospitals, which may promote awareness and provide further incentives to organise medicine management.
Morocco is home to North Africa's largest pharmaceutical manufacturing industry. Both domestic drugmakers and key multinationals operate local manufacturing operations. Pharmaceutical exports are surprisingly low given the country's manufacturing strength and strategic location. Morocco's pharmaceutical regulation is relatively well developed, however the country's pricing system is less attractive to pharmaceutical companies - drug prices are controlled and a clear distinction is made between locally manufactured drugs and imports, in which case the Director of Medicine and Pharmacy (DPM) sets prices.
DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/562ed0/morocco_pharmaceut) has announced the addition of the "Morocco Pharmaceuticals and Healthcare Report Q1 2009" report to their offering.
Morocco Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Morocco's pharmaceuticals and healthcare industry.
Morocco is the second-largest pharmaceutical manufacturing industry in Africa (after South Africa) and strategically bridges the gap between Europe, the Middle East and sub-Saharan Africa. These factors, combined with its efficient pharmaceutical approvals process, put it in a strong position within the African market. Morocco's drug market expenditure was estimated at US$1.38bn in 2008, and is expected to reach US$1.89bn by 2013.
In 2008, Moroccans spent an average of just US$43.70 per person on pharmaceuticals, up 16% from US$37.0 per person in 2007. Though this figure represents an increase - and considerably higher than the 2006 level of US$30.90 per person - it remains low by global standards. Considerable credit for this increase can be put down to the introduction of compulsory health insurance in 2006, a development that has allowed many Moroccans to meaningfully participate in the drug market for the first time. Increasing membership of this scheme will raise medicine consumption. However, concerns remain over the long-term financial viability of Morocco's social security schemes.
Despite the undisputed benefits of increasing access to healthcare among the working population, Morocco still has a long way to go to improve services. During the 1990s, poor government investment in public healthcare resulted in the rapid growth of the private healthcare sector in urban areas. New strategies include giving pharmacists greater responsibility in preferentially dispensing generic drugs, as well as reducing corruption and setting up autonomous management boards to remove government involvement in administration. Improved regulations should attract foreign generic pharmaceuticals looking to capitalise on this expanding market, with Indian drugmaker Ranbaxy already benefitting from manufacturing and selling products for use in the public health sector.
There is a growing trend to become more efficient in supplying medicines throughout the country. This was highlighted in November 2008 by the announcement of an ambitious program to regulate national medicine supplies using eight distribution bases instead of one, and could ensure that every health provider has appropriate access to drugs. Additionally, the Ministry of Health has adopted a transparent protocol for listing all available medicines in hospitals, which may promote awareness and provide further incentives to organise medicine management.
Morocco is home to North Africa's largest pharmaceutical manufacturing industry. Both domestic drugmakers and key multinationals operate local manufacturing operations. Pharmaceutical exports are surprisingly low given the country's manufacturing strength and strategic location. Morocco's pharmaceutical regulation is relatively well developed, however the country's pricing system is less attractive to pharmaceutical companies - drug prices are controlled and a clear distinction is made between locally manufactured drugs and imports, in which case the Director of Medicine and Pharmacy (DPM) sets prices.
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