Malaysia Hospital Market to be Valued USD 10,849 Million Through 2028
Growing penetration of hospital
chains and medical tourism in Malaysia is expected to drive the growth of
Malaysia Hospital Market in the forecast period, 2024-2028.
According to TechSci Research
report, “Malaysia Hospital Market - By Region, Forecast and Opportunities,
2018-2028F”, the Malaysia Hospital market stood at USD7,312.91 million in
2022 and is expected to grow at a CAGR of 6.69% during the forecast period.
This can be ascribed to the growing geriatric population across the country,
which is susceptible to various communicable and non-communicable diseases.
Furthermore, growing medical tourism in Malaysia is further expected to support
the growth of hospital market in the country. Besides, growing penetration of
hospital chains in the country is expected to create lucrative opportunities
for market growth.
Furthermore, the rising burden
of various chronic diseases such as cancer, diabetes, cardiovascular diseases,
among others, across the country is further expected to support the market
growth through 2028. According to Global Cancer Observatory, in 2020,
around 48,639 new cancer cases were reported in Malaysia out of which 23,052
cases were observed in males and 25,587 in females, which in turn, is
expected to bolster the growth of Malaysia hospital market.
However, one of the restraining
factors is regulatory challenges for licensing and accreditation requirements.
Hospitals in Malaysia are subject to strict licensing and accreditation
requirements to ensure quality and safety standards. Meeting these requirements
can be time-consuming and costly, especially for new hospitals or those seeking
to expand their services. The regulatory process may involve extensive
documentation, inspections, and adherence to specific guidelines, which can
delay the establishment or expansion of hospitals. Moreover, compliance with
healthcare regulations in Malaysia is governed by various laws, regulations,
and policies. Hospitals must comply with these regulations, which can be
complex and subject to changes. Staying up to date with regulatory updates and
ensuring compliance across all aspects of hospital operations, including
clinical protocols, data privacy, medical record-keeping, and patient safety,
requires ongoing efforts and resources.
Browse over 25 market data Figures
spread through 111 Pages and an
in-depth TOC on "Malaysia Hospital Market"
Malaysia Hospital Market can be
segmented by ownership, type, type of services, bed capacity, regional
distribution, and competitional landscape.
Based on ownership, the market
is further segmented into public and private. The public hospitals segment
dominated the market in 2022 with an overall share of around 65.86% and is
expected to continue its dominance through 2028. This can be attributed to the
fact that the public healthcare system in Malaysia is far better than other
countries in the Asia Pacific region. Although there are a lot of private
hospitals which are present in the country and are expanding but only 10% of
the population in the country chooses to take treatment at a private hospital.
Based on type, the market is
again segmented into general, multispecialty, and specialty. The general
segment is anticipated to hold the largest revenue share of 47.52% and will
dominate the market segment in the upcoming five years. This is ascribed due to
the availability of all types of treatment provided in a public as well as
private hospital.
Based on type of services, the
market can be segmented into out-patient services and in-patient services. The
in-patient services segment dominated the market in 2022 with an overall share
of 64.38%, owing to the growing inclination of patients towards the in-patient
services in case of hospitals. The patients prefer getting admitted to the
hospitals and avail themselves of the services. The out-patient services
segment is expected to witness the fastest growth through 2028, owing to the
penetration of multispecialty hospital chains.
Major companies operating in
Malaysia Hospital Market include:
- IHH Healthcare Berhad
- KPJ Healthcare Berhad
- Ramsay Sime Darby Health Care Sdn Bhd
- Sunway Medical Centre Sdn. Bhd
- Coloumbia Asia
- Optimax Holdings Berhad
- TMC Life Sciences Berhad
- LYC Healthcare Berhad
- Metro Healthcare Berhad
- Health Management International Pte Ltd.
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“Medical tourism is a
significant driver of the hospital market in Malaysia. Malaysia is known for
providing high-quality healthcare services that meet international standards.
The presence of internationally accredited hospitals, skilled healthcare
professionals, and advanced medical technologies have attracted patients from
around the world. Medical tourists seek specialized treatments, elective
surgeries, and complex medical procedures in Malaysian hospitals, driving the
demand for hospital services. Additionally, adoption and building of smart
hospitals in Malaysia is further expected to create lucrative opportunities for
the market growth in the coming years.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Malaysia Hospital Market, By
Ownership (Public and Private), By Type (General, Multispecialty, and
Specialty), By Type of Services (In-Patient Services and Out-Patient Services),
By Bed Capacity (100-500 Beds, Up to 100 beds, and Above 500 beds), By Region,
Competition, Forecast & Opportunities, 2028F”, has
evaluated the future growth potential of Malaysia Hospital Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Malaysia Hospital Market.
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