Other Medical Devices - Malta

Malta

Highlights

The projected revenue in the Other Medical Devices market market in Malta is expected to reach US$17.13m in 2024.
It is forecasted to show an annual growth rate (CAGR 2024-2029) of 5.11%, leading to a market volume of US$21.98m by 2029.
In global comparison, the United States is anticipated to generate the highest revenue in this market, amounting to US$58.90bn in 2024.
Malta's medical technology market is witnessing a surge in demand for innovative other medical devices.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Medical Devices market in Malta has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the Other Medical Devices market in Malta have been shaped by the increasing demand for innovative and technologically advanced products. Customers are seeking medical devices that are more efficient, accurate, and user-friendly. They are also looking for devices that offer improved patient comfort and safety. This preference for advanced devices has driven manufacturers to invest in research and development to meet the evolving needs of customers. Trends in the market indicate a shift towards the adoption of digital and connected medical devices. The integration of technology into medical devices allows for remote monitoring, real-time data collection, and analysis. This trend has been driven by the growing emphasis on telemedicine and remote patient monitoring, especially in light of the COVID-19 pandemic. The use of digital and connected medical devices enables healthcare professionals to provide better and more personalized care to patients, even from a distance. Local special circumstances in Malta have also contributed to the development of the Other Medical Devices market. As a small island nation, Malta has a limited number of healthcare facilities and professionals. This has led to an increased reliance on medical devices to support healthcare delivery. Additionally, the government of Malta has been actively promoting medical tourism, which has attracted international patients seeking high-quality medical treatments. This has created a demand for advanced medical devices in the country. Underlying macroeconomic factors have played a role in the growth of the Other Medical Devices market in Malta. The country has a stable economy with a strong focus on healthcare and life sciences. The government has implemented policies to support the growth of the medical devices industry, including tax incentives and funding for research and development. Furthermore, Malta is strategically located in the Mediterranean region, making it an attractive market for international medical device manufacturers looking to expand their reach in Europe and North Africa. In conclusion, the Other Medical Devices market in Malta is developing due to customer preferences for advanced and technologically advanced products, the adoption of digital and connected medical devices, local special circumstances such as the reliance on medical devices for healthcare delivery, and underlying macroeconomic factors including government support and strategic location. This growth is expected to continue as the demand for innovative medical devices increases in Malta.

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.