Digital Health - Malta | Statista Market Forecast

Malta is projected to witness a significant growth in its Digital Health market revenue, with an estimated value of US$12.16m in 2024.
This market is expected to experience a steady annual growth rate (CAGR 2024-2029) of 7.73%, resulting in a projected market volume of US$17.65m by 2029.
The average revenue per user (ARPU) is anticipated to reach US$81.39.
In comparison to other countries, United States is expected to generate the highest revenue in the Digital Health market, amounting to US$47.12bn in 2024.
Among the various markets within the Digital Health market, the Digital Fitness & Well-Being market will hold the largest market share, with a total revenue value of US$7.75m in 2024.
Malta is emerging as a hub for digital health startups, with its favorable regulatory environment and supportive government initiatives.

Definition:

The Digital Health market refers to the use of technology to improve health and healthcare delivery. It includes the Digital Fitness & Well-Being, Online Doctor Consultations, and Digital Treatment & Care markets.

Structure:

The Digital Health market is divided into three markets:

Digital Fitness & Well-Being: This market includes fitness trackers, health and wellness coaching, and tools that help individuals monitor and improve their health and well-being.
Online Doctor Consultations: This market includes telemedicine and other digital tools that allow patients to consult with doctors remotely.
Digital Treatment & Care: This market includes digital tools that are used to diagnose, treat, and manage medical conditions. It includes the Connected Biosensors and Digital Care Management markets.

Additional Information:

The growth of the Digital Health market is driven by factors such as increasing smartphone penetration, improved internet connectivity, and the growing need to curb healthcare costs. The market is also supported by government initiatives to spread digitalization across the healthcare sector. Key players in the market are introducing advanced applications to enhance the user experience and integrate with other digital platforms. The COVID-19 pandemic has accelerated the adoption of digital health solutions, particularly in the Online Doctor Consultations market.

Digital fitness and well-being
Fitness trackers
Connected Biosensors
Digital care management
Online pharmacies
Online doctor consultations
Health and wellness coaching
Digital treatment and care

Smart clothing
Smart shoes
Smart eyewear

The Digital Health market in Malta is witnessing a significant growth trajectory driven by various factors.

Customer preferences: Consumers in Malta are increasingly seeking convenience and efficiency in accessing healthcare services, leading to a rising preference for digital health solutions. The convenience of online doctor consultations and the flexibility of digital fitness and well-being platforms are appealing to tech-savvy individuals looking to take control of their health.

Trends in the market: One noticeable trend in the Maltese Digital Health market is the growing popularity of digital treatment and care platforms. Patients are embracing telemedicine services and remote monitoring tools, allowing them to receive medical attention and manage chronic conditions from the comfort of their homes. This trend is particularly prominent in Malta due to its aging population and the need to provide efficient healthcare services to a growing number of elderly citizens.

Local special circumstances: Malta's small geographical size and limited healthcare infrastructure have spurred the adoption of digital health solutions as a means to overcome these challenges. The government's support for eHealth initiatives and investments in digital infrastructure have further accelerated the development of the Digital Health market in Malta. Additionally, the country's strong focus on innovation and technology has created a conducive environment for digital health startups to thrive and introduce cutting-edge solutions to the market.

Underlying macroeconomic factors: The increasing healthcare costs and the strain on traditional healthcare systems in Malta have necessitated the adoption of digital health technologies to improve efficiency and reduce expenses. The shift towards preventive healthcare and the emphasis on wellness and self-care have also contributed to the growth of the Digital Health market in Malta. Moreover, the COVID-19 pandemic has highlighted the importance of remote healthcare services, further driving the demand for digital health solutions in the country.

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.

Over 1.3 billion people will use digital health in 2024. This includes using fitness trackers and smartwatches, online doctor consultations, or any other digital treatment and care use. The utilization of digital health, particularly telemedicine, increased significantly during the COVID-19 pandemic as alternatives to physical appointments were required. Wearables such as smartwatches have been popular for some years, and still undergo steady growth. The digital health market was worth around 172 billion U.S. dollars in 2024, with a forecast for future growth.