Malaysia coronavirus testing
kits market is expected to grow at a significant rate during the forecast
period, 2024-2028. With the sudden outbreak and spread of pandemic COVID-19,
growing awareness about preventive healthcare practices, and increasing healthcare
expenditure by the government are the primary factors driving the demand for
the Malaysia Coronavirus Testing Kits Market for the next five years. To combat
the rise in number of cases and variants of coronavirus, leading authorities
and healthcare facilities are requesting to conduct tests for treatment of
COVID-19. The Malaysia coronavirus testing kits market is expected to witness
significant growth in the coming years due to the increasing number of COVID-19
cases in the country. According to the Worldometer website, as of March 24,
2023, Malaysia has reported over 2.7 million cases and 27,000 deaths due to the
virus.
Coronavirus testing kits are
helpful in recognizing the affected individuals who can further take necessary
treatment from medical centres. Increase in the need to identify the hotspot
zones and making the affected patients to stay in isolated areas either in
healthcare or residential spaces is expected to foster the coronavirus testing
kits market. To control the spread of coronavirus, the number of tests
conducted daily are increased to get clear picture of the exact situation of
the pandemic.
The antigen rapid test kits are
the most commonly used testing kits in Malaysia. These testing kits are
designed to detect the presence of the virus in a sample within 15 to 30
minutes. They are relatively affordable and easy to use, which has made them
popular among healthcare providers. The RT-PCR test kits are also widely used
in Malaysia. These testing kits are more accurate than antigen rapid test kits
and can detect even small amounts of the virus in a sample. However, they are
more expensive and require specialized equipment to run the tests, which has
made them less accessible than antigen rapid test kits.
Rising Prevalence of Novel Corona
Virus Strains
In 2020, a significant to public
health emerged. The novel severe acute respiratory tract syndrome coronavirus
epidemic outbreak emerged from Wuhan City, China and spread all over the
world. According to Ministry of Health (MOH) in Malaysia, there were
5,251 COVID-19 cases including 86 deaths and 2,967 cases of recovery were found
in April 2020. A place called Selangor, in Malaysia had recorded the
highest number of confirmed COVID-19 cases. At that time there was neither the
vaccine production nor the diagnostic treatment was developed which causes the
ease in diagnosis and treatment. The Malaysia coronavirus testing kits market
is dominated by local manufacturers, with several companies producing testing
kits for the local market. Some of the major players in the market include Top
Biotech Sdn Bhd, Quidel Corporation Malaysia, Roche (Malaysia) Sdn. Bhd. These
companies have ramped up production to meet the increasing demand for testing
kits in the country. Therefore, these factors propell the growth of Malaysia
corona virus testing kits market.
Technological Advancement
Major companies are developing
advanced technologies and launching new services to stay competitive in the
market. According to Statista, the revenue in the healthcare segment in
Malaysia is projected to reach USD105.90 million in 2022 and is expected to hit
around 20.4% by 2027. Technological advancements and rise in collaborations
between service providers and manufacturers plays a great role in boosting the
demand for coronavirus testing kits market. According to Statista, the
revenue particularly in medical devices segment of Malaysia is projected to
reach USD3.06 billion in 2022. The increasing expenditure capacity of
consumers is enabling the population to afford quality healthcare services. A
surge in awareness to maintain a healthy lifestyle along with disease
prevention and maintenance is leading to increase demand for self-diagnostic
testing kits that is expected to fuel the demand for the Malaysia Coronavirus
Testing Kits Market.
Government Initiatives
Supportive government policies
to promote the manufacturing of coronavirus testing kits and providing of
subsidies and income tax rebates is expected to boost the coronavirus testing
kits market growth for the next five years. The Malaysian government has been
taking several measures to control the spread of the virus, including
increasing the availability of testing kits in the market. The Ministry of
Health has approved several types of testing kits, including antigen rapid test
kits, RT-PCR test kits, and antibody test kits. The Government of
Malaysia enforced a Movement Control Order in starting pandemic to break the
chain of COVID-19. The media actively spread the stay-home policy. The
non-governmental organizations, as well as prison inmates, started to produce
personal protective equipment for frontliners with full coverage and the major
market players started production of diagnosis kits which overall shows a
lucrative effect on the growth of Malaysia coronavirus testing kits market.
Additionally, the Malaysian
government has made significant investments in expanding testing capabilities,
with a goal of testing 150,000 people per day by the end of 2021. To achieve
this, the government has established public-private partnerships with local
manufacturers to increase the production of testing kits and has also imported
testing kits from other countries to meet demand. This in turn, responsible for
the growth of Malaysia Coronavirus Testing Market.
Recent Developments
The Malaysian government has
been working to increase testing capacity by ramping up production of testing
kits. In November 2020, Malaysia’s Ministry of Health (MOH) announced that it
had developed its own COVID-19 test kit, known as the MyEG Covid-19 rapid testing
kit. The kit was developed in collaboration with a local company, Gano Excel
Industries, and has since been approved by the MOH for use in Malaysia. The
MyEG Covid-19 rapid testing kit is a lateral flow immunoassay that detects the
presence of antibodies in a person’s blood. The kit can produce results in just
15 minutes and has a reported accuracy rate of 94.2%. The kit is also
affordable, with a cost of RM39 (approximately USD 9) per test.
The development of the MyEG
Covid-19 rapid testing kit has helped to increase Malaysia’s testing capacity
and reduce the country’s dependence on imported test kits. The MOH has also
approved several other rapid testing kits for use in Malaysia, including the
Antigen Rapid Test Kit (ART) and the Abbott Panbio COVID-19 antigen rapid test
and participate to propel the growth of Malaysia Coronavirus Testing Kits
Market. In addition to the development of local testing kits, Malaysia has also
been working to increase the availability of testing through partnerships with
private companies. In December 2020, the MOH announced that it had partnered
with four private laboratories to provide COVID-19 testing services. The
partnership allowed private laboratories to offer PCR tests at a lower cost,
making testing more accessible to the public. Thereby, led to the development
of Malaysia Coronavirus Testing Kits Market.
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Market Segmentation
The Malaysia coronavirus testing
kits market is segmented by type of test, use, full test time, technology,
specimen type, mobility and end user, regional distribution, and competitional
landscape. Based on type of test, the market is further segmented into
molecular and serological. Based on use, the market is further segmented into multiple
test and single test. Based on full test time, the market is further segmented
into 5 Hours-12 Hours, 1 Hours- 5 Hours, 15-60 Minutes, less than 15 Minutes,
12 Hours-24 Hours, More Than 1 Day. Based on technology, the market is
bifurcated into RT-PCR, and Rapid Diagnostic. Based on specimen type, the
market is further segmented into Nasopharyngeal Specimen, Oropharyngeal
Specimen, Blood, Sputum, and Others. Based on mobility, the market is further
segmented into Stationary, and Mobile. Based on End User, the market is further
segmented into Public Health Labs, Hospitals, Private or Commercial
Laboratories, and Others.
Market Players
Medical Innovation Ventures Sdn.
Bhd. (Mediven), Sengenics Sdn. Bhd., Top Biotech Sdn Bhd, Quidel Corporation
Malaysia, Roche (Malaysia) Sdn. Bhd., Abbott Laboratories (M) Sdn. Bhd.,
Cellex, Inc Malaysia, SD Biosensor, Inc Malaysia, etc. are some of the leading
companies operating in the market.
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Attribute
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Details
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Base Year
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2022
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Historical Years
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2018 – 2022
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Estimated Year
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2023E
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Forecast Period
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2024F – 2028F
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Quantitative Units
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Revenue in USD Million, Volume in Units and CAGR for 2018-2022
and 2023E-2028F
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Report Coverage
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Revenue forecast, volume forecast, company share, competitive
landscape, growth factors, and trends
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Segments Covered
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·
Type of Test
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Use
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Full Test Time
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Technology
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Specimen Type
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Mobility
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End User
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Region Scope
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East Coast Region, Southern Region, Northern Region, East
Region, Central Region
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Key Companies Profiled
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Medical Innovation Ventures Sdn. Bhd. (Mediven), Sengenics
Sdn. Bhd., Top Biotech Sdn Bhd, Quidel Corporation Malaysia, Roche (Malaysia)
Sdn. Bhd., Abbott Laboratories (M) Sdn. Bhd., Cellex, Inc Malaysia, SD
Biosensor, Inc Malaysia.
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Customization Scope
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10% free report customization with purchase. Addition or
alteration to regional & segment scope.
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Pricing and Purchase Options
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Avail customized purchase options to meet your exact research
needs. Explore purchase
options
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Delivery Format
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PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
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Report Scope:
In this report, Malaysia
coronavirus testing kits market has been segmented into following categories,
in addition to the industry trends which have also been detailed below:
- Malaysia Coronavirus Testing Kits Market,
By Type of Test:
- Malaysia Coronavirus Testing Kits Market,
By Use:
- Multiple Test
- Single Test
- Malaysia Coronavirus Testing Kits Market,
By Full Test Time:
- 5 Hours-12 Hours
- 1 Hours- 5 Hours
- 15-60 Minutes
- Less than 15 Minutes
- 12 Hours-24 Hours
- More Than 1 Day
- Malaysia Coronavirus Testing Kits Market,
By Technology:
- RT-PCR
- Rapid Diagnostic Test
- Malaysia Coronavirus Testing Kits Market,
By Specimen Type:
- Nasopharyngeal Specimen
- Oropharyngeal Specimen
- Blood
- Sputum
- Others
- Malaysia Coronavirus Testing Kits Market,
By Mobility:
- Malaysia Coronavirus Testing Kits Market,
By End User:
- Public Health Labs
- Hospitals
- Private or Commercial
Laboratories
- Others
- Malaysia Coronavirus Testing Kits Market,
By Region:
- East Coast Region
- Southern Region
- Northern Region
- East Region
- Central Region
Competitive Landscape
Company Profiles: Detailed
analysis of the major companies present in Malaysia coronavirus testing kits
market.
Available Customizations:
With the given market data,
TechSci Research offers customizations according to a company’s specific needs.
The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
Malaysia Coronavirus Testing
Kits market is an upcoming report to be released soon. If you wish an early
delivery of this report or want to confirm the date of release, please contact
us at [email protected]