Digital Fitness & Well-Being - Malta

The Digital Fitness & Well-Being market in Malta is projected to reach a revenue of US$7.75m in 2024.
It is expected to grow at an annual rate of 7.57% (CAGR 2024-2029), resulting in a projected market volume of US$11.15m by 2029.
The user penetration in Malta is estimated to be 26.39% in 2024 and is projected to increase to 34.75% by 2029.
The average revenue per user (ARPU) is expected to be US$54.68.
In comparison to other countries, United States is expected to generate the highest revenue in the Digital Fitness & Well-Being market, amounting to US$14.82bn in 2024.
Malta's digital fitness and well-being market is experiencing significant growth due to the country's focus on promoting a healthy lifestyle and its tech-savvy population.

Definition:

The Digital Fitness & Well-Being market includes the Fitness Trackers and Health & Wellness Coaching markets. The Fitness Trackers market covers devices that are explicitly intended for fitness and motion tracking. The Health & Wellness Coaching market includes fitness apps for detecting/tracking/analyzing and sharing vitality and fitness achievements. It also covers nutrition and diet apps, which help users analyze their nutrition behaviors and keep a record of their eating patterns with the purpose of improving their health.

Structure:

The Digital Fitness & Well-Being market consists of two product categories: fitness trackers, such as smartwatches, smart scales, and activity trackers; and health and wellness coaching, which includes fitness apps for detecting/tracking/analyzing and sharing vitality and fitness achievements, as well as nutrition and diet apps.

Additional Information:

The market data comprises revenue, average revenue per user, users, and user penetration rates.

The data only reflects B2C revenues; B2B and C2C revenues are not covered.

Smartwatches
Fitness/activity tracking wristwear
Smart scales
Fitness apps that track fitness achievements
Nutrition apps (e.g., calorie counters)
Meditation apps
Mindfulness apps

Smart clothing
Smart shoes
Smart eyewear
Health tracking apps
Parameter-specific biosensors that measure blood pressure, temperature, blood glucose, etc.
Apps that focus on specific physical diseases

The Digital Fitness & Well-Being market in Malta is experiencing a surge in demand and innovation, driven by changing consumer preferences and advancements in technology.

Customer preferences: Consumers in Malta are increasingly seeking convenient and accessible ways to prioritize their health and well-being, leading to a growing preference for digital fitness and well-being solutions. The convenience of accessing online doctor consultations and digital treatment options from the comfort of their homes is particularly appealing to busy individuals looking to manage their health effectively.

Trends in the market: In Malta, there is a noticeable trend towards the adoption of digital fitness apps and platforms that offer personalized workout plans, virtual classes, and progress tracking features. This shift towards digital solutions is not only driven by the need for convenience but also by the desire for more tailored and effective fitness experiences. Additionally, the online doctor consultation market is witnessing significant growth as more Maltese individuals opt for telemedicine services for non-emergency medical issues. The digital treatment and care segment is also evolving rapidly, with the introduction of innovative healthcare technologies and remote monitoring solutions.

Local special circumstances: Malta's relatively small geographical size and high population density make digital fitness and well-being solutions a practical choice for individuals looking to avoid crowded gyms or clinics. The country's strong digital infrastructure and high internet penetration rates further support the adoption of digital health services. Additionally, Malta's aging population and increasing prevalence of chronic diseases are driving the demand for remote healthcare solutions that can provide continuous monitoring and personalized care.

Underlying macroeconomic factors: The growing emphasis on preventive healthcare and wellness in Malta is influenced by rising healthcare costs and the need for more efficient healthcare delivery systems. The government's focus on promoting healthy lifestyles and reducing the burden on the public healthcare system is also fueling the demand for digital fitness and well-being solutions. Moreover, the increasing awareness of the importance of mental health and holistic well-being is shaping the development of innovative digital platforms that cater to these specific needs in the Maltese market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.