BMI View: We hold an optimistic outlook for the Moroccan pharmaceutical market despite the economic
slowdown over 2016. We expect the government’s increasing efforts to improve healthcare coverage
coupled with the country’s growing non-communicable disease burden will drive the demand for medicines
in long-term. A major downside risk to our forecast is the uncertainty surrounding drug prices as a result of
price cuts and increased taxation on medicines in recent years, which will negatively impact the
attractiveness of the market to multinational drugmakers.
Headline Expenditure Projections
? Pharmaceuticals: MAD13.39bn (USD1.40bn) in 2015 to MAD14.34bn (USD1.46bn) in 2016; +7.1% in
local currency terms and +4.0% in US dollar terms. Forecast inline with last quarter.
? Healthcare: MAD59.15bn (USD6.19bn) in 2015 to MAD62.83bn (USD6.38bn) in 2016; +6.2% in local
currency terms and +3.1% in US dollar terms. Forecast revised downwards from last quarter.

Table of Contents

BMI Industry View 7
Table: Headline Pharmaceuticals & Healthcare Forecasts (Morocco 2014-2020) 7
SWOT 9
Industry Forecast 11
Pharmaceutical Market Forecast 11
Table: Pharmaceutical Sales, Historical Data And Forecasts (Morocco 2012-2020) 13
Healthcare Market Forecast 14
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Morocco 2012-2020) 16
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Morocco 2012-2020) 16
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Morocco 2012-2020) 16
Prescription Drug Market Forecast 17
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Morocco 2012-2020) 19
Patented Drug Market Forecast 20
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Morocco 2012-2020) 22
Generic Drug Market Forecast 23
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Morocco 2012-2020) 26
OTC Drug Market Forecast 27
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Morocco 2012-2020) 29
Pharmaceutical Trade Forecast 30
Table: Pharmaceutical Trade Data And Forecasts (Morocco 2014-2020) 33
Table: Pharmaceutical Trade Data And Forecasts local currency (Morocco 2014-2020) 33
Pharmaceuticals & Healthcare Risk/Reward Index 34
Middle East and Africa Risk/Reward Index - Q2 2016 34
Morocco Risk/ Reward Index 41
Rewards 41
Risks 42
Regulatory Review 44
Intellectual Property Regime 45
Pricing Regime 45
Reimbursement Regime 48
Market Overview 51
Epidemiology 51
Healthcare Sector 54
Table: Healthcare Resources (Morocco 2010-2015) 58
Table: Healthcare Personnel (Morocco 2010-2015) 59
Table: Healthcare Activity (Morocco 2010-2015) 59
Healthcare Insurance 59
Recent Health Insurance Developments 61
Research & Development 64
Clinical Trials 65
Competitive Landscape 66
Pharmaceutical Industry 66
Table: Morocco's Select Pharmaceutical Industry Indicators 66
Table: Members Of MIS, 2011 67
Table: Members Of AMIP, 2011 68
Domestic Pharmaceutical sector 68
Foreign Pharmaceutical Companies 69
Table: Multinational Market Activity 72
Pharmaceutical Wholesale 72
Pharmaceutical Retail 73
Company Profile 75
GlaxoSmithKline 75
Laprophan 77
Pfizer 80
Sanofi 83
Sothema 87
Demographic Forecast 90
Demographic Outlook 90
Table: Population Headline Indicators (Morocco 1990-2025) 91
Table: Key Population Ratios (Morocco 1990-2025) 91
Table: Urban/Rural Population & Life Expectancy (Morocco 1990-2025) 92
Table: Population By Age Group (Morocco 1990-2025) 92
Table: Population By Age Group % (Morocco 1990-2025) 93
Glossary 95
Methodology 97
Pharmaceutical Expenditure Forecast Model 97
Healthcare Expenditure Forecast Model 97
Notes On Methodology 98
Risk/Reward Index Methodology 99
Index Overview 100
Table: Pharmaceutical Risk/Reward Index Indicators 100
Indicator Weightings 101

List of Tables

Table: Headline Pharmaceuticals & Healthcare Forecasts (Morocco 2014-2020)
Table: Pharmaceutical Sales, Historical Data And Forecasts (Morocco 2012-2020)
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Morocco 2012-2020)
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Morocco 2012-2020)
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Morocco 2012-2020)
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Morocco 2012-2020)
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Morocco 2012-2020)
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Morocco 2012-2020)
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Morocco 2012-2020)
Table: Pharmaceutical Trade Data And Forecasts (Morocco 2014-2020)
Table: Pharmaceutical Trade Data And Forecasts local currency (Morocco 2014-2020)
Table: Healthcare Resources (Morocco 2010-2015)
Table: Healthcare Personnel (Morocco 2010-2015)
Table: Healthcare Activity (Morocco 2010-2015)
Table: Morocco's Select Pharmaceutical Industry Indicators
Table: Members Of MIS, 2011
Table: Members Of AMIP, 2011
Table: Multinational Market Activity
Table: Population Headline Indicators (Morocco 1990-2025)
Table: Key Population Ratios (Morocco 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Morocco 1990-2025)
Table: Population By Age Group (Morocco 1990-2025)
Table: Population By Age Group % (Morocco 1990-2025)
Table: Pharmaceutical Risk/Reward Index Indicators