Malaysia Hospital Market stood
at USD 7312.91 million in 2022 and is expected to grow at a steady CAGR of
6.69% during the forecast period. This can be attributed to the increasing
penetration of hospital chains and medical tourism in Malaysia. Medical Tourism
has significantly increased in Malaysia since 2011. According to the
Malaysia Healthcare Travel Council (MHTC), Malaysia had a total of 800,000
medical tourists in 2022. In addition, the availability of skilled
medical professionals is providing high quality treatment in the country at an
affordable cost. For instance, according to National Institute of
Health 2023, based on the ratios of doctors to population, Malaysia will need
90,057 actively practicing doctors in 2025 and 114,187 in 2030. As
per the records of Ministry of Health Malaysia, 2021, 62,536 doctors were
available with annual practicing certificate.
Additionally, the sudden
outbreak and spread of pandemic COVID-19 has led to an increase in demand for
public as well as private hospitals. This, in turn, has fueled the growth of
Malaysia hospital market. Additionally, the growing cases of different types of
infectious and non-infectious diseases in Malaysia will help increase the
number of hospitals across the country.
Apart from that, the changing
lifestyle will contribute to an increase in different types of diseases,
further enhancing the growth rate of the Malaysia hospital market. Also, the
flourishing healthcare industry and increasing healthcare expenditure by both
the governments and population across the regions of Malaysia, are factors
expected to foster the growth of Malaysia hospital market growth during the
forecast period.
Malaysia’s healthcare
expenditures are expected to double to USD2.8 billion, by 2028. For
instance, according to the International Trade Administration, in prioritizing
public healthcare to build national resilience in preparation for the endemic
phase of COVID-19, the government has allocated USD7.7 billion to the Ministry
of Health (MOH) for operating and development expenditures. In-fact,
Malaysia operates an internationally lauded healthcare system, fueled by
investments in world-class facilities and quality human resources. The
country runs a two-tier healthcare system: a government-based universal
healthcare system and a private healthcare system. Malaysia is aiming to become
a medical tourism hub in ASEAN, with the country attracting more than one
million medical tourists, annually.
Growing Awareness on Medical
Tourism
According to the Association of
Southeast Asian Nations, most individuals prefer Malaysia for medical
treatment. The medical tourism rate is about 55-60% in Malaysia, thereby
attracting more and more medical tourists. This, in turn, is expected to
support the growth of the Malaysia Hospital Market, especially the private
hospital’s segment. Medical tourists coming to Malaysia require various medical
treatments, including elective surgeries, cosmetic procedures, and specialized
treatments. This has led to an increased demand for healthcare services, which
has stimulated the growth of hospitals and clinics across the country. To cater
to the influx of medical tourists, Malaysia has invested in developing its
healthcare infrastructure. This includes the construction of new hospitals,
expansion of existing facilities, and the introduction of state-of-the-art
medical equipment and technologies. These developments have not only improved
the capacity and capabilities of hospitals but have also attracted local
patients seeking advanced medical treatments. According to the Association of
Southeast Asian Nations, most individuals prefer Malaysia for medical
treatment. Malaysia is quite popular in terms of providing treatment for
fertility issues and heart problems. Medical tourism has contributed to
Malaysia's economic growth by attracting foreign currency inflows. Medical
tourists often spend on accommodation, transportation, dining, and other
services, benefiting the local economy. The revenue generated from medical tourism
is reinvested in healthcare infrastructure, research, and development, further
enhancing the growth of the hospital market. Serving international patients has
encouraged Malaysian healthcare providers to enhance their skills, knowledge,
and expertise. This includes continuous medical education, training programs,
and exposure to diverse medical cases. The exchange of knowledge and expertise
between local and international healthcare professionals has helped elevate the
standards of healthcare in Malaysia, benefiting both domestic and international
patients. As Malaysia gains recognition as a reliable and competent medical
tourism destination, the reputation of its hospitals grows. Positive
experiences and word-of-mouth recommendations from medical tourists can lead to
increased trust and credibility for Malaysian hospitals. This, in turn,
attracts more international patients and drives the growth of the hospital
market.
Additionally, the presence of
National Heart Institute in Malaysia attracts a lot of patients for the
treatment of different heart related problems across the globe, especially from
the Asia Pacific region. Also, the in-vitro fertilization treatment success
rate is about 55-60% in Malaysia, thereby attracting more and more medical
tourists. This, in turn, is expected to support the growth of the Malaysia
Hospital Market, especially the private hospital’s segment.
Increasing Healthcare
Expenditure in Malaysia
The increasing healthcare
expenditure in Malaysia has had a significant influence on the growth of the
hospital market. Healthcare expenditure refers to the total amount of money
spent on healthcare services and infrastructure within a country. Several
factors contribute to the influence of increasing healthcare expenditure on the
growth of the hospital market in Malaysia. For instance, according to
the Ministry of Health Malaysia, in 2020, the total expenditure on health for
public & private hospitals in millions was USD14604.93 (RM67,022). Increasing
healthcare expenditure allows hospitals to invest in advanced medical
technologies, such as diagnostic equipment, surgical tools, and treatment
modalities. The availability of these technologies enhances the capabilities of
hospitals, enabling them to offer a wider range of specialized services and
treatments. This attracts patients seeking advanced and innovative healthcare
solutions, ultimately driving the growth of the hospital market. Higher
healthcare expenditure allows hospitals to invest in improving the quality of
healthcare services. This includes recruiting and training skilled medical
professionals, upgrading medical facilities, and implementing quality assurance
programs. As the quality of healthcare services improves, hospitals gain a
reputation for providing excellent care, attracting more patients both locally
and from abroad. The growth in patient volume further stimulates the expansion
of hospitals and the overall hospital market. Increasing healthcare expenditure
indicates a greater focus on healthcare by the government and individuals. This
heightened focus leads to increased awareness and demand for healthcare
services. As more people seek medical treatment and care, hospitals experience
higher patient volumes. This drives the need to expand existing hospitals or
build new ones to meet the growing demand, resulting in the growth of the
hospital market. For instance, as per the Ministry of Health Malaysia,
2,258,022 hospitals were present in 2021. Over the forecast period,
the Malaysia hospital market is expected to grow due to the increasing
penetration of several corporate hospital chains across the country,
particularly in the Western region, which provides improved healthcare
facilities. Also, these hospitals are equipped with the latest medical devices
and equipment and best-in-industry specialists for the treatment of various
diseases.
Several hospitals are expanding
by acquiring or working with other hospitals. For instance, Ramsay Sime Darby
Health Care Sdn Bhd acquired Manipal Hospitals Klang, a 220-bed seven-story
hospital in Klang, Malaysia, in May 2021.
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Government Initiatives &
Healthcare Spending
The government allocates funds
to develop healthcare infrastructure, including the construction of new
hospitals and the expansion of existing facilities. This investment increases
the capacity and capabilities of hospitals, allowing them to cater to a larger
patient population and provide a wider range of healthcare services. The
expansion and development of hospital infrastructure contributes to the growth
of the hospital market. The government encourages Public-Private Partnerships
(PPPs) in the healthcare sector, which involves collaboration between the
public and private sectors to improve healthcare delivery. Through PPPs, the
government can leverage private sector expertise, funding, and resources, to
develop and manage hospitals. This partnership facilitates the growth of the
hospital market by expanding healthcare services and enhancing the quality of
care. For instance, according to National Institute of Health 2023,
based on the ratios of doctors to population, Malaysia will need 90,057
actively practicing doctors in 2025 and 114,187, in 2030. The
government provides subsidies and financial assistance programs to support
healthcare services, including hospital care. These programs help to reduce the
financial burden on patients, making healthcare services more accessible and
affordable. By ensuring affordability, the government stimulates the demand for
hospital services, contributing to the growth of the hospital market. The
government establishes regulatory frameworks and standards to govern the
healthcare sector, including hospitals. These regulations ensure the quality,
safety, and efficacy of healthcare services. By setting standards and enforcing
regulations, the government promotes confidence in the healthcare system and
encourages investment in the hospital market.
Market Segmentation
The Malaysia hospital beds
market is 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. Based on type, the market
is further segmented into general, multispecialty, and specialty. Based on type
of services, the market is further segmented into in-patient services and
out-patient services. Based on bed capacity, the market is further segmented
into 100-500 beds, up to 100 beds, and above 500 beds.
Market Players
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. 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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Revenue
Forecast in 2022
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USD 7,312.91
Million
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Revenue
Forecast in 2028
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USD 10,849.78 Million
|
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Growth Rate
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6.69%
|
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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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2023
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Forecast
Period
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2024 – 2028
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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
|
|
Segments
Covered
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·
Ownership
·
Type
·
Type of Services
·
Bed Capacity
·
Region
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Region Scope
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East, West
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Key Companies
Profiled
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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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|
Customization
Scope
|
10% free
report customization with purchase. Addition or alteration to regional &
segment scope.
|
|
Pricing and
Purchase Options
|
Avail customized
purchase options to meet your exact research needs. Explore purchase options
|
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Delivery
Format
|
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 hospital beds market has been segmented into following
categories, in addition to the industry trends which have also been detailed
below:
·
Malaysia
Hospital Beds Market, By ownership:
o
Public
o
Private
·
Malaysia
Hospital Beds Market, By Type:
o
General
o
Multispecialty
o
Specialty
·
Malaysia
Hospital Beds Market, By Type of Services:
o
In Patient Services
o
Out-Patient Services
·
Malaysia
Hospital Beds Market, By Bed Capacity:
o
100-500 beds
o
Up to 100 beds
o
Above 500 beds
·
Malaysia
Hospital Beds Market, By Region:
o
East
o
West
Competitive Landscape
Company Profiles: Detailed
analysis of the major companies present in Malaysia hospital
beds 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).