Analysts’ Viewpoint on Malaysia Medical Tourism Market Scenario
Non-essential procedures such as cosmetic surgeries are taking a backseat while critical medical procedures pertaining to cardiovascular diseases are the main focus of healthcare providers in the Malaysia medical tourism market during ongoing COVID-19 crisis. Power failure or dependence on rechargeable batteries in medical devices pose a risk in areas with limited electrical infrastructure in Malaysia. Most of the developed world is largely electrified. However, low- and middle-income countries such as Malaysia still struggle with providing adequate electricity in remote areas. This could cause restrictions in the penetration of medical tourism across the region, thereby hampering the growth of the market. Hence, med-tech companies should seek government funding to deploy technological innovations in medical devices and design better troubleshooting in case of sudden power cuts such as investment in generators.
The medical tourism market is gaining momentum in Malaysia due to favorable factors such as low language barrier, high quality treatment at affordable cost, and a robust healthcare infrastructure. Excellent macro factors such as good recuperation facilities, transport facilities, and government support for medical tourism are key drivers that are bolstering the growth of the Malaysia medical tourism market. In order to expand medical tourism, the government has offered tax incentives on the revenue generated from foreign patients.
Furthermore, tax exemptions have been granted on the expenses for international accreditation and setting up of international units. Moreover, it has been found that medical tourism is one of the 12 National Key Economic Areas (NKEAs) of the Government of Malaysia, and hence, is considered a key driver of economic growth.
Healthcare providers in Malaysia are concentrating on mission-critical applications in the dental, neurology, and cardiovascular department during ongoing COVID-19 crisis is generate continuous cash flow. Med-tech companies are conducting data-driven research before investing in IT-dependent medical devices.
Med-tech companies in Malaysia are found to ramp-up local manufacturing capabilities to reduce dependence on other countries for raw materials and for medical device components or products. They are maintaining optimum inventory levels to ensure robust supply of life-saving med-tech devices. Companies are partnering with alternate suppliers and ecosystem partners to ensure business continuity owing to business uncertainties and changing demand trends for medical devices.
Most of the medical devices, including both conventional and smart options, are IT-dependent hardware & software systems that are powered with the help of electricity. The failure of hardware or bugs in software could affect the overall performance of the device, while risking healthcare operations. Hence, companies in the Malaysia medical tourism market should invest in R&D to design better troubleshooting for IT-dependent med-tech devices. They should partner with think-tanks and researchers from top universities to deploy technological advancements in medical devices.
The Malaysia medical tourism market is predicted to expand at a high CAGR during the forecast period. The availability of latest medical equipment and technologies is expected to spark growth in the Malaysia medical tourism market. The process of medical device approval in the country is much faster in comparison with other countries. This can be attributed to the availability of skilled healthcare personnel and surgeons.
Well-established healthcare system and high healthcare expenditure by government are likely to augment the growth of the Malaysia medical tourism market. Moreover, availability of international reimbursement policies and stable political environment are encouraging foreign patients to visit Malaysia for medical treatments.
The cosmetic surgery segment accounted for 17% share of the Malaysia medical tourism market in 2020. Cosmetic surgeries include rhinoplasty, breast augmentation, hair restoration, and facelift procedures, among others. Increase in influence of aesthetic facial features among people is driving the demand for cosmetic surgeries across Malaysia.
Rise in influence of aesthetic and cosmetic surgical procedures among the geriatric population is expected to fuel the growth of the cosmetic surgery segment. The high prevalence of obesity leads to high demand for various body contouring procedures, which is accelerating growth in the Malaysia medical tourism market.
|
Attribute |
Detail |
|
Market Size Value in 2020 |
US$ 1.2 Bn |
|
Market Forecast Value in 2028 |
US$ 5.1 Bn |
|
Growth Rate (CAGR) |
4.5% |
|
Forecast Period |
2021–2028 |
|
Quantitative Units |
US$ Mn for Value |
|
Market Analysis |
It includes cross segment analysis at regional level. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, and parent industry overview. |
|
Competition Landscape |
|
|
Format |
Electronic (PDF) + Excel |
|
Market Segmentation |
Procedure Type
|
|
Countries Covered |
|
|
Companies Profiled |
|
|
Customization Scope |
Available upon request |
|
Pricing |
Available upon request |
Malaysia Medical Tourism Market - Segmentation
| Procedure Type |
|
Malaysia medical tourism market is expected to reach the value of US$ 5.1 Bn by the end of 2028
Malaysia medical tourism market to expand at a CAGR of 4.5% from 2021 to 2028
Malaysia medical tourism market is driven by increase in government initiatives in medical tourism and high quality treatment at low cost
The dental treatment segment dominated the malaysia medical tourism market
Key players in the medical tourism market in malaysia include Pantai Holdings Berhad, KPJ Healthcare Berhad, Dentalpro Group, Prince Court Medical Centre, Island Hospital
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Malaysia Medical Tourism Market
4. Market Overview
4.1. Introduction
4.1.1. Procedure Type Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Key Market Indicators
4.4. Market Dynamics
4.4.1. Drivers
4.4.2. Restraints
4.4.3. Opportunity
4.5. Malaysia Medical Tourism Market Analysis and Forecast, 2017–2028
4.5.1. Market Volume Projections, 2017–2028
4.5.2. Pricing - Actuals and Projections, 2017–2028
4.5.3. Market Revenue Projections (US$ Mn)
4.6. Malaysia Medical Tourism Market - Global Supply Demand Scenario
4.7. Porter’s Five Force Analysis
4.8. Global Medical Tourism Market Value (In US$ Mn) and Volume (In number of procedures) Forecast, by Procedure Type, 2017–2028
4.9. ASEAN Medical Tourism Market Value (In US$ Mn) and Volume (In number of procedures) Forecast, by Procedure Type, 2017–2028
4.10. Market Outlook
5. Malaysia Medical Tourism Market Analysis and Forecast, by Procedure Type
5.1. Introduction & Definition
5.2. Key Findings / Developments
5.3. Key Trends
5.4. Market Value (US$ Mn) and Volume (Number of Procedures) Forecast, by Procedure Type, 2017–2028
5.4.1. Cardio (internal medicine)
5.4.1.1. Angiogram
5.4.1.2. ASD Closure
5.4.1.3. Atherectomy
5.4.1.4. Pacemakers
5.4.1.5. Radiofrequency Ablation
5.4.1.6. Watchman Device Implants
5.4.1.7. Cardio (internal medicine) Consultation
5.4.1.8. Angioplasty
5.4.1.9. Others
5.4.2. Cardiothoracic Surgery
5.4.2.1. Heart Valve Replacement
5.4.2.2. Coronary Artery Bypass
5.4.2.3. Heart Transplant
5.4.2.4. Stenting
5.4.2.5. Cardiothoracic Consultation
5.4.2.6. Other procedures (cardiomyoplasty, PTMC valve)
5.4.3. Oncology
5.4.3.1. Bone Marrow Transplant
5.4.3.2. Oncology Consultation
5.4.3.3. Other procedures
5.4.4. Fertility Treatments (IVF)
5.4.4.1. Embryo Transplants
5.4.4.2. Fertility Treatments (IVF) Consultation
5.4.4.3. Other procedures
5.4.5. Orthopedic Treatment
5.4.5.1. Arthroplasty
5.4.5.2. Arthroscopy
5.4.5.3. Fracture Repair
5.4.5.4. Hip Replacement
5.4.5.5. Internal Fixations
5.4.5.6. Knee Replacement
5.4.5.7. Physiotherapy
5.4.5.8. Orthopedic Consultation
5.4.6. Dental Treatment
5.4.6.1. Dental Implants
5.4.6.2. Dental Treatment Consultation
5.4.6.3. Other procedures
5.4.7. Ophthalmology
5.4.7.1. Corneal Transplants
5.4.7.2. Ophthalmology Consultation
5.4.7.3. Other procedures
5.4.8. Aesthetics / Cosmetic Surgery
5.4.8.1. Hair Transplants
5.4.8.2. Breast Augmentation Procedures
5.4.8.3. Rhinoplasty
5.4.8.4. Face Lift
5.4.8.5. Liposuction
5.4.8.6. Tummy Tuck
5.4.8.7. Aesthetics / Cosmetic consultation
5.4.8.8. Other procedures
5.4.9. Neurology
5.4.9.1. Brain Surgery
5.4.9.2. Neurology Consultation
5.4.9.3. Other procedures
5.4.10. Regenerative Therapy (stem cells)
5.4.10.1. Stem Cell Transplant
5.4.10.2. Regenerative Therapy consultation
5.4.10.3. Other procedures
5.4.11. Medical Check-ups (health screening)
5.4.12. Others
5.4.12.1. Kidney & Liver Transplants
5.4.12.2. Other general consultation
5.4.12.3. Other procedures
5.5. Procedure Type Comparison Matrix
5.6. Market Attractiveness Analysis, by Procedure Type
6. Competition Landscape
6.1. Market Player - Competition Matrix (by tier and size of companies)
6.2. Company Profiles
6.2.1. KPJ Healthcare Berhad
6.2.1.1. Financial Overview
6.2.1.2. Product Portfolio
6.2.1.3. Business Strategies
6.2.1.4. Recent Developments
6.2.2. Pantai Holdings Berhad
6.2.2.1. Financial Overview
6.2.2.2. Product Portfolio
6.2.2.3. Business Strategies
6.2.2.4. Recent Developments
6.2.3. Prince Court Medical Centre
6.2.3.1. Financial Overview
6.2.3.2. Product Portfolio
6.2.3.3. Business Strategies
6.2.3.4. Recent Developments
6.2.4. Dentalpro Group
6.2.4.1. Financial Overview
6.2.4.2. Product Portfolio
6.2.4.3. Business Strategies
6.2.4.4. Recent Developments
6.2.5. Sunway Medical Centre
6.2.5.1. Financial Overview
6.2.5.2. Product Portfolio
6.2.5.3. Business Strategies
6.2.5.4. Recent Developments
6.2.6. IJN Health Institute
6.2.6.1. Financial Overview
6.2.6.2. Product Portfolio
6.2.6.3. Business Strategies
6.2.6.4. Recent Developments
6.2.7. Island Hospital
6.2.7.1. Financial Overview
6.2.7.2. Product Portfolio
6.2.7.3. Business Strategies
6.2.7.4. Recent Developments
6.2.8. LohGuanLye Specialists Centre
6.2.8.1. Financial Overview
6.2.8.2. Product Portfolio
6.2.8.3. Business Strategies
6.2.8.4. Recent Developments
6.2.9. Mahkota Medical Centre
6.2.9.1. Financial Overview
6.2.9.2. Product Portfolio
6.2.9.3. Business Strategies
6.2.9.4. Recent Developments
6.2.10. Tropicana Medical Centre
6.2.10.1. Financial Overview
6.2.10.2. Product Portfolio
6.2.10.3. Business Strategies
6.2.10.4. Recent Developments
List of Tables
Table 01: Global Medical Tourism Market Size (US$ Mn) and Volume (No. of Procedures) Forecast, by Procedure Type, 2020–2028
Table 02: ASEAN Medical Tourism Market Size (US$ Mn) and Volume (No. of Procedures) Forecast, by Procedure Type, 2020–2028
Table 03: Country wise Cost Comparison of Various Procedure Types (US$)
Table 04: Malaysia Medical Tourism Market Size (US$ Mn) Forecast, by Procedure Type, 2020–2028
Table 05: Malaysia Medical Tourism Market Volume (No. of Procedures) Forecast, by Procedure Type, 2020–2028
Table 06: Malaysia Medical Tourism Market Size (US$ Mn) Forecast, by Cardio (internal medicine), 2020–2028
Table 07: Malaysia Medical Tourism Market Volume (No. of Procedures) Forecast, by Cardio (internal medicine), 2020–2028
Table 08: Malaysia Medical Tourism Market Pricing Forecast (US$), by Cardio (internal medicine), 2020–2028
Table 09: Malaysia Medical Tourism Market Size (US$ Mn) Forecast, by Cardiothoracic Surgery, 2020–2028
Table 10: Malaysia Medical Tourism Market Volume (No. of Procedures) Forecast, by Cardiothoracic Surgery, 2020–2028
Table 11: Malaysia Medical Tourism Market Pricing Forecast (US$), by Cardiothoracic Surgery, 2020–2028
Table 12: Malaysia Medical Tourism Market Size (US$ Mn), Volume (No. of Procedures) and Pricing (US$) Forecast, by Oncology, 2020–2028
Table 13: Malaysia Medical Tourism Market Size (US$ Mn), Volume (No. of Procedures) and Pricing (US$) Forecast, Fertility treatments (IVF), 2020–2028
Table 14: Malaysia Medical Tourism Market Size (US$ Mn) Forecast, by Orthopedic treatment, 2020–2028
Table 15: Malaysia Medical Tourism Market Volume (No. of Procedures) Forecast, by Orthopedic treatment, 2020–2028
Table 16: Malaysia Medical Tourism Market Pricing Forecast (US$), by Orthopedic treatment, 2020–2028
Table 17: Malaysia Medical Tourism Market Size (US$ Mn), Volume (No. of Procedures) and Pricing (US$) Forecast, by Dental treatment, 2020–2028
Table 18: Malaysia Medical Tourism Market Size (US$ Mn), Volume (No. of Procedures) and Pricing (US$) Forecast, by Ophthalmology, 2020–2028
Table 19: Malaysia Medical Tourism Market Size (US$ Mn) Forecast, by Aesthetics/Cosmetic Surgery, 2020–2028
Table 20: Malaysia Medical Tourism Market Volume (No. of Procedures) Forecast, by Aesthetics/Cosmetic Surgery, 2020–2028
Table 21: Malaysia Medical Tourism Market Pricing Forecast (US$), by Aesthetics/Cosmetic Surgery, 2020–2028
Table 22: Malaysia Medical Tourism Market Size (US$ Mn) and Volume (No. of Procedures) Forecast, by Neurology, 2020–2028
Table 23: Malaysia Medical Tourism Market Size (US$ Mn) and Volume (No. of Procedures) Forecast, by Regenerative Therapy (Stem cells), 2020–2028
Table 24: Malaysia Medical Tourism Market Size (US$ Mn) and Volume (No. of Procedures) Forecast, by Medical check – ups (Health screening), 2020–2028
Table 25: Malaysia Medical Tourism Market Size (US$ Mn) and Volume (No. of Procedures) Forecast, by Others, 2020–2028
List of Figures
Figure 01: Malaysia Medical Tourism Market Size (US$ Mn) and Volume (No. of Procedures), 2017–2028
Figure 02: Malaysia Medical Tourism Market, Country wise contribution 2020
Figure 03: Market Value Share (%), by Procedure Type (2020)
Figure 04: Malaysia Medical Tourism Market Value Share Analysis, by Procedure Type, 2020 and 2028
Figure 05: Cardio (internal medicine) Market Size (US$ Mn) and Volume (No. of Procedures), 2017–2028
Figure 06: Cardiothoracic Surgery Market Size (US$ Mn), 2017–2028
Figure 07: Oncology Market Size (US$ Mn) and Volume (No. of Procedures), 2017–2028
Figure 08: Fertility treatments (IVF) Market Size (US$ Mn), 2017–2028
Figure 09: Orthopedic treatment Market Size (US$ Mn) and Volume (No. of Procedures), 2017–2028
Figure 10: Dental treatment Market Size (US$ Mn), 2017–2028
Figure 11: Ophthalmology Market Size (US$ Mn) and Volume (No. of Procedures), 2017–2028
Figure 12: Aesthetics / Cosmetic Surgery Market Size (US$ Mn), 2017–2028
Figure 13: Neurology Market Size (US$ Mn) and Volume (No. of Procedures), 2017–2028
Figure 14: Regenerative Therapy (stem cell) Market Size (US$ Mn), 2017–2028
Figure 15: Medical Check-ups (health screening) Market Size (US$ Mn) and Volume (No. of Procedures), 2017–2028
Figure 16: Others Market Size (US$ Mn), 2017–2028
Figure 17: Malaysia Medical Tourism Market Attractiveness Analysis, by Procedure Type, 2020
Figure 18: Malaysia Medical Tourism Market Size (US$ Mn) and Volume (No. of Procedures), 2017–2028
Figure 19: Malaysia Medical Tourism Market, Country wise contribution, 2020
Figure 20: Market Value Share (%), by Procedure Type, 2020
Copyright © Transparency Market Research, Inc. All Rights reserved
Trust Online
Malaysia Medical Tourism Market
