Malaysia Hospital Market to grow at a Significant Rate through 2026
Benefit of early disease diagnosis and treatment is expected to drive the demand for Malaysia hospital market in forecast period.
According to TechSci Research report, “Malaysia Hospital Market By Ownership (Public v/s Private) By Type (General, Specialty, Multi- Speciality) By Type of Services (In-Patient Services v/s Out-Patient Services) By Bed Capacity (Up to 100 beds, 100-500 beds, Above 500 beds), By Region, Company Forecast & Opportunities, 2026”, The Malaysia hospital market is expected to witness steady growth for the next five years. Increase of the old age population whose immunity level is not up to the mark and suffer from various diseases including diabetes, cardiovascular disorders, cancer, among others. Increase in patient awareness about availing healthcare services and advancements relating to diagnostic technologies is expected to fuel the growth of the hospital market. Rise in adoption of minimally invasive treatment and surgical procedures which offers faster recovery, shorter hospital stays, reduce the scars of incisor on the skin which is further fueling the growth of the hospital market. Increase in adoption of unhealthy eating habits such as junk food and high sugar containing edible food item and beverages is giving rise to a number of diseases which require treatment in the hospital facilities. Presence of sedentary lifestyle which is due to long working hours leaves less time for physical activities is expected to spur the hospital market growth.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected countries adversely. Leading authorities in Malaysia imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath along with coughing and sneezing. Malaysian authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. The demand for critical care devices increased during this period. Collaborations between the healthcare and non-healthcare industries to increase the production of essential medical devices is expected to foster the growth of the hospital market.
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Malaysia hospital market is segmented into ownership, type, type of services, bed capacity, regional distribution, and company. Based on ownership, market can be further divided into public and private. The public segment is expected to hold major market share for the forecast period, 2022-2026. Presence of large number of hospital beds and witness a huge number of patients visiting for treatment into the hospital facilities. Theses healthcare facilities provide affordable treatment and generally provides insurance facilities to patients to increase the access of hospitals for patients. Based on type, market can be further fragmented into general, specialty, and multi- speciality. The multi-speciality hospital type is expected to witness significant growth and general hospital segment is expected to dominate the hospital market for the next five years. A multi-specialty hospital provides plethora of disease treatment facilities under single roof. They also have presence of skilled healthcare professionals who can provide treatment for different diseases. These are equipped with advanced diagnostic facilities and equipment to attract more patients into the hospitals thereby boosting the demand for hospital market in Malaysia.
IHH Healthcare Berhad, KPJ Healthcare Berhad, Ramsay Sime Darby Health Care Sdn Bhd, LYC Healthcare Berhad, Metro Healthcare Berhad, Optimax Holdings Sdn. Bhd, TMC Life Sciences Berhad are the leading players operating in Malaysia hospital market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several hospital manufacturers are coming up with their technologically advanced offerings.
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“Leading authorities of Malaysia are promoting the healthcare tourism and attracting a huge number of tourists annually. Ministry of Health established an agency called Malaysia Healthcare Travel Council which has aim to promote healthcare industry by establishing public and private partnerships in the country and abroad and assist procurement of medical visas in conjunction with Immigration department of Malaysia. Malaysia has a world-class medical center specializing in fertility and cardiology and investing huge amounts for incorporating advanced technologies and equipment into the hospital facilities which is expected to propel the growth of the market till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Malaysia Hospital Market By Ownership (Public v/s Private) By Type (General, Specialty, Multi- Speciality) By Type of Services (In-Patient Services v/s Out-Patient Services) By Bed Capacity (Up to 100 beds, 100-500 beds, Above 500 beds) , By Region, Company Forecast & Opportunities, 2026” has evaluated the future growth potential of Malaysia hospital market and provided statistics & information on market size, shares, 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 the of Malaysia hospital market.
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