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Morocco’s pharmaceutical market is expected to grow despite issues related to the healthcare system, Fitch Resolutions concluded in an article released on June 25. The foundation which publishes credit and macro intelligence solutions, revealed that the Kingdom provides unique opportunities for drug makers, allowing the market to flourish.
It indicates that Morocco’s pharmaceutical market is estimated at MAD16.53 billion and is expected to reach MAD33.76 by 2028. This growth will be backed by four main factors, Fitch Resolutions pointed out.
«A swift pharmaceuticals approval process, a sustained economic growth in the past several years, the country's strong ties with European countries, and its strategic geopolitical location», the agency noted down.
Ambitions vs. challenges
Fitch Solutions reports that this growth comes amid reforms led by the Moroccan government to expand healthcare coverage. It mentions that in May 2019, the head of government Saadeddine El Othmani announced that «healthcare coverage has been extended to cover 60% of the population» after only 47% of it was benefiting from it in 2017.
It also pinpointed the six-stage plan launched to reform the healthcare system by 2025. Reforms conducted by Morocco are mainly targeting rural medical facilities, by «increasing access to health services and offering doctors and nurses bonus payments for working in remote areas», Fitch Solutions said.
Parts of these reforms are focusing on encouraging locally produced medicines and creating local production opportunities. «In June 2019, it was announced that by the end of 2019 Mylan Pharmaceuticals Maroc (Mylan) will be investing MAD60mn (USD6.5mn) in its local production facilities», the same source indicated.
However, Fitch Solutions believes that these reforms and ambitions are to be limited by a series of challenges. «On top of a significant part of the population still lacking access to healthcare coverage (8.5mn people according to World Bank 2017 data), Morocco's healthcare system is still fraught with challenges», the agency said.
In its article, Fitch Solutions referred to the «poor conditions» of the health system and the quality of social care, indicating that corruption has been a real obstacle to change in teh Kingdom. The anger of patients and doctors is witnessed through «continuous strikes and resignations of health professionals in H119 in protest of the low wages and the alleged indifference of the ministry for tackling the issues facing the system».
Drug prices are also part of the issue. A government investigation found out that private clinics charge higher than the regulated prices due to lack of supervision.
