Orthopedic Devices - Malta | Statista Market Forecast

The Orthopedic Devices market market in Malta is forecasted to achieve a revenue of US$5.58m by the year 2024.
It is expected that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 5.24%, leading to a market volume of US$7.21m by 2029.
In terms of global comparison, the United States is projected to generate the highest revenue, amounting to US$16.02bn in 2024.
The demand for orthopedic devices in Malta has been steadily increasing due to the aging population and rising prevalence of musculoskeletal disorders.

Definition:
The Orthopedic Devices market contains medical equipment and accessories used to treat orthopedic disorders, including joint reconstruction, spinal devices, trauma fixation devices, arthroscopic devices, etc.

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) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Johnson & Johnson, Zimmer Biomet, Stryker, Medtronic. Further information on the key players can be found in the Market Shares boxes.

Joint reconstruction implants
Spinal devices
Trauma fixation devices
Arthroscopy devices

Orthopedic pharmaceuticals
Orthopedic supplements

The Orthopedic Devices market in Malta has been experiencing steady growth in recent years, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Malta have been shifting towards a more active and health-conscious lifestyle, leading to an increased demand for orthopedic devices. As people become more aware of the importance of maintaining good musculoskeletal health, they are seeking out products that can help them prevent or alleviate orthopedic conditions. This has created a growing market for orthopedic devices such as braces, supports, and joint implants. Trends in the market are also contributing to the development of the Orthopedic Devices market in Malta. Advancements in technology have led to the introduction of innovative orthopedic devices that offer improved functionality and comfort. For example, the use of 3D printing technology in the production of orthopedic implants has revolutionized the industry, allowing for more precise and customized solutions. Additionally, the growing popularity of minimally invasive surgical procedures has increased the demand for orthopedic devices that can support these techniques. Local special circumstances in Malta, such as an aging population and a high prevalence of musculoskeletal disorders, have further fueled the growth of the Orthopedic Devices market. As the population ages, the incidence of orthopedic conditions such as osteoarthritis and fractures increases, leading to a higher demand for orthopedic devices. Additionally, Malta's geographical location and climate make it a popular destination for medical tourism, attracting patients from other countries who require orthopedic treatments and devices. Underlying macroeconomic factors have also played a role in the development of the Orthopedic Devices market in Malta. The country's strong economy and stable healthcare system have created a favorable environment for investment and growth in the healthcare sector. Furthermore, government initiatives aimed at improving healthcare infrastructure and services have contributed to the expansion of the Orthopedic Devices market. In conclusion, the Orthopedic Devices market in Malta is experiencing growth due to customer preferences for active and health-conscious lifestyles, trends in the market such as technological advancements and minimally invasive procedures, local special circumstances such as an aging population and medical tourism, and underlying macroeconomic factors such as a strong economy and government initiatives. This growth is expected to continue in the coming years as the demand for orthopedic devices continues to rise.

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.