BMI View: Morocco's economic outlook remains positive following the country's readmission to the African Union and the sharp growth in its agricultural output in 2017. This will support high single-digit growth over our forecast period both in local currency and US dollar terms, together with the expansion of universal health insurance coverage, external funding and increasing investment in healthcare infrastructure. The market will remain heavily import dependent.
Latest Updates And Key Forecasts
We maintain our 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 by 2020. In US dollar terms, we forecast a 2015-2020 CAGR of 8.3%, taking the market to USD408.2mn.