Diabetes Care Devices - Malta | Statista Market Forecast

Revenue in the Diabetes Care Devices market market in Malta is anticipated to attain US$4.43m in 2024.
The revenue is predicted to exhibit an annual growth rate (CAGR 2024-2029) of 13.94%, leading to a market volume of US$8.50m by 2029.
In a global context, the majority of revenue will be produced the United States, where it is expected to reach US$11.71bn in 2024.
In Malta, the increasing prevalence of diabetes is driving demand for innovative care devices, emphasizing the need for advanced solutions in the medical technology sector.

Definition:
The Diabetes Care Devices market, a medical technology market, includes medical devices used in the management and treatment of diabetes. These devices range from blood glucose meters and continuous glucose monitoring systems to insulin pumps, insulin pens, and other related accessories. It is important to note that the market does not include pharmaceutical products used in the treatment of diabetes, such as insulin and oral hypoglycemic agents.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include Medtronic, Abbott Laboratories, and Roche Diagnostics. Further information on the key players can be found in the Market Shares boxes.

Blood glucose monitoring devices
Insulin delivery devices

Diabetes drugs
Diabetes supplements

The Diabetes Care Devices Market in Malta is witnessing substantial growth, propelled by factors such as the increasing prevalence of diabetes, advancements in technology, and heightened awareness about diabetes management among patients and healthcare providers.

Customer preferences: In Malta, there is a notable shift towards personalized diabetes care solutions, with consumers increasingly favoring devices that offer tailored management options. The demand for smart insulin pens and continuous glucose monitors is rising, reflecting a cultural inclination towards technology-driven health solutions. Additionally, younger demographics are gravitating towards apps that facilitate real-time data sharing with healthcare providers, enhancing collaborative care. This trend is further supported by a growing emphasis on preventative health, leading to a more proactive approach in diabetes management among patients.

Trends in the market: In Malta, the Diabetes Care Devices Market is experiencing a significant transition towards advanced digital health technologies, with a marked increase in the adoption of continuous glucose monitors and smart insulin delivery systems. This trend is largely driven by an emphasis on personalized medicine, where patients seek devices that cater to their unique health needs. Furthermore, the integration of mobile health applications is facilitating real-time data sharing between patients and healthcare providers, fostering a collaborative care environment. As awareness of diabetes management grows, industry stakeholders must adapt to these evolving preferences, focusing on innovation and user-friendly solutions to remain competitive in this dynamic landscape.

Local special circumstances: In Malta, the Diabetes Care Devices Market is uniquely influenced by the country's limited geographical size and close-knit community dynamics, which foster strong patient-provider relationships. This environment encourages the adoption of localized solutions that are tailored to the specific health needs of the population. Additionally, Malta's regulatory framework supports the swift introduction of innovative medical devices, promoting collaboration between local healthcare providers and technology developers. Cultural factors, including a rising health consciousness and a proactive approach to diabetes management, are further driving the demand for advanced diabetes care technologies.

Underlying macroeconomic factors: The Diabetes Care Devices Market in Malta is shaped by several macroeconomic factors, including national economic health, healthcare funding, and global economic trends. The country's stable economic environment, characterized by moderate GDP growth and low unemployment rates, supports increased healthcare spending and investment in advanced medical technologies. Furthermore, Malta's proactive fiscal policies prioritize health sector improvements, which enhance access to diabetes care devices. The rising prevalence of diabetes, coupled with a growing awareness of preventive healthcare, fosters demand for innovative devices, ensuring a robust market trajectory aligned with global health initiatives.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

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

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.