Digital Treatment & Care - Malta

Malta

The revenue in the Digital Treatment & Care market in Malta is projected to reach US$2.45m in 2024.
It is expected to show an annual growth rate of 6.74% (CAGR 2024-2028), resulting in a projected market volume of US$3.18m by 2028.
The user penetration is expected to be 31.77% in 2024 and is projected to reach 33.37% by 2028.
The average revenue per user (ARPU) is expected to be US$17.29.
In comparison to other countries globally, in the United States is anticipated to generate the highest revenue, amounting to US$24,240.00m in 2024.
In Malta, the digital treatment and care market is thriving with innovative telemedicine solutions and virtual healthcare platforms.

Key regions: Japan, India, United States, Canada, Italy

Definition:

The Digital Treatment & Care market includes devices and apps that help users monitor and analyze lifestyle-related aspects and improve their overall health. It includes user and revenue trends for four categories: digital care management, connected Biosensors, and online pharmacies.

Structure:

The Digital Treatment & Care market is divided into four markets:

Connected Biosensors: Biosensors that collect information on a variety of health parameters and vital signs of an individual (blood pressure, temperature, blood glucose, weight) by reading or measuring this data and transmitting it via electrical signals.

Digital Care Management: Various apps that help users monitor/detect/analyze physical health conditions. Contraception and fertility apps provide users with guidelines on self-care, family planning, and birth control, raise their awareness, and offer monitoring functions. Medication checker apps provide users with useful dosage intake guidelines, drug interaction information, and personal medication records.

Online Pharmacies: Over-the-counter medicine that can be purchased without a medical prescription through online sales channels. The market comprises analgesics, cold and cough medication, digestives and intestinal remedies, skin treatment products, and vitamins and minerals.

Digital Therapeutics (DTx): Software-based therapeutic interventions that deliver evidence-based therapeutic content to patients to prevent, manage, or treat a medical condition. DTx can be used to treat a wide range of conditions, including chronic diseases, mental health disorders, and substance use disorders.

Additional Information:

The digital care management user base includes paying and non-paying customers. The revenue figures only include revenues generated from paid apps offering premium options and from in-app purchases; revenues from app downloads and advertising are not included. The data only reflects B2C revenues; B2B and C2C revenues are not covered.

Market

Region

Region comparison

Currency

Analyst Opinion

The Digital Treatment & Care market in Malta is witnessing significant growth and development, with various sub-markets such as contraception/fertility apps, medication checker apps, online pharmacy, smart thermometers, smart blood glucose meters, smart blood pressure meters, and social alarms gaining traction in the country.

Customer preferences: In Malta, customers are increasingly gravitating towards digital solutions for treatment and care due to the convenience and accessibility they offer. With busy lifestyles and a growing awareness of the importance of health monitoring, individuals are turning to digital tools to manage their health more effectively. The ease of use and real-time tracking features of digital treatment and care products are particularly appealing to tech-savvy Maltese consumers.

Trends in the market: One notable trend in the Maltese market is the rising popularity of online pharmacies, which provide a convenient way for individuals to purchase medications and healthcare products from the comfort of their homes. Additionally, smart health devices such as thermometers, blood glucose meters, and blood pressure monitors are becoming increasingly integrated into everyday healthcare routines in Malta, enabling individuals to monitor their health parameters more effectively.

Local special circumstances: Malta's relatively small geographical size and population density make it an ideal environment for the adoption of digital treatment and care solutions. The country's well-developed healthcare infrastructure and high internet penetration rate further support the growth of the digital health market. Additionally, Malta's aging population and increasing prevalence of chronic diseases create a demand for innovative healthcare solutions, driving the adoption of digital treatment and care technologies in the country.

Underlying macroeconomic factors: The growing digitalization trend in Malta, coupled with the government's initiatives to promote eHealth solutions, is propelling the expansion of the Digital Treatment & Care market in the country. Moreover, increasing healthcare expenditure, rising disposable incomes, and a shift towards preventive healthcare are contributing to the overall growth of the market. The competitive landscape in Malta, with both local and international players vying for market share, is fostering innovation and driving the development of advanced digital treatment and care solutions in the country.

Methodology

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.