Boston, MA -- (ReleaseWire) -- 02/14/2013 -- BMI View: Morocco's subsidised health insurance scheme, Regime d'Assistance Medicale (RAMED), launched in March 2012, is experiencing early-stage difficulties with its target to increase healthcare accessibility to those on low incomes. This is to be expected, given the evidence of bribery and corruption, and the shortage of doctors in the sector. BMI believes the commitment to improve governance and implement controls in the sector will be fulfilled in the medium-to-long term. As such, we maintain that government healthcare spending will outpace private healthcare spending over the forecast 2011-2016 period.
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Headline Expenditure Projections
- Pharmaceuticals: MAD10.10bn (US$1.25bn) in 2011 to MAD11.24bn (US$1.30bn) in 2012; +11.3% in local currency terms and +4.5% in US dollar terms. Forecast broadly unchanged from Q412.
- Healthcare: MAD41.99bn (US$5.19bn) in 2011 to MAD47.09bn (US$5.46bn) in 2012; +12.2% in local currency terms and +5.4% in US dollar terms. Forecast slightly higher from Q412, on account of slightly lower historical figures.
- Medical devices: MAD2.19bn (US$270mn) in 2011 to MAD2.47bn (US$287mn) in 2012; +13.1% in local currency terms and +6.2% in US dollar terms. Forecast broadly unchanged from Q412.
Risk/Reward Rating: In Q113, Morocco remains 12th out of the 30 markets included in the MEA region. Its composite score remains unchanged, at 46.8 out of the maximum 100. The country's rewards ratings are less promising than its risks profile, which weighs down its overall score. The market is medium-sized by regional standards and small on a global scale, but its high growth potential offsets relatively low per capita drug consumption, especially in rural areas. In the risks category, Morocco scores above the regional average, indicating a relatively low level of country and pharmaceutical industry-specific risk in a somewhat volatile region.
Key Trends And Developments
- Emergency and psychiatric care will hold a top priority in the country's health reform, said Morocco's Health Minister Houcine El Ouardi to local press in November 2012. The minister will address the acute shortage of psychiatrists and specialist nurses in Morocco. El Ouardi assured that the ministry is working towards the development of a community-based policy on hospital and pre-hospital emergency care. The health ministry will establish four university departments specialising in child and adolescent psychiatry, where ten psychiatrists can be trained every year.
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