Growing penetration of hospital chains and medical tourism in Malaysia are driving the growth of Malaysia Hospital Market in the forecast period.
According to TechSci Research report, “Malaysia Hospital Market – By Region, Competition, Forecast & Opportunities, 2017-2027F”, the Malaysia Hospital Market stood at USD6801.77 million in 2021 and is expected to grow at a CAGR of 6.98% 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, 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 2027. 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.
However, high cost of establishment, maintenance and management of hospitals can slow down the market growth through 2027. Also, due to affordability of availing services in public hospitals there is an increase in burden over the public hospital facilities across Malaysia. Also, the dearth of skilled professionals and high attrition rate among healthcare professionals can further hamper the market growth through 2027.
Browse over 21 market data Figures and 3 market data Tables spread through 83 Pages and an in-depth TOC on “Malaysia Hospital Market”
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The Malaysia Hospital Market is segmented based ownership, type, type of services, bed capacity, company, and regional distribution.
Based ownership, the market can be split into public and private. The Public Hospitals segment dominated the market in 2021 with an overall share of around 68.29% and is expected to continue its dominance through 2027. 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 a treatment at a 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 2021 owing to the growing inclination of patients towards the in-patient services in case of hospitals. The patients prefer getting admitted into the hospitals and avail the services. While the out-patient services segment is expected to witness the fastest growth through 2027 owing to the penetration of multispecialty hospital chains wherein different services are available under the same roof.
Key market players in the Hospital Market include:
- KPJ Healthcare Berhad
- IHH Healthcare Berhad
- Ramsay Sime Darby Health Care Sdn Bhd
- Columbia Asia Group
- Sunway Medical Centre Sdn. Bhd.
- LYC Healthcare Berhad
- Metro Healthcare Berhad
- TMC Life Sciences Berhad
- Optimax Holdings Berhad
- Mahkota Medical Centre
Malaysia Hospital Market is a very fragmented market with the majority of stakes held by public hospitals. However, private hospitals are growing and also hold significant shares in the overall market. Out of the different companies operating in the hospital market of Malaysia, KPJ Healthcare Berhad, holds the largest share followed by IHH Healthcare Berhad and Ramsay Sime Darby Health Care Sdn Bhd. Other prominent companies operating in the market include Columbia Asia Group, Sunway Medical Centre Sdn. Bhd., etc.
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“The Malaysia Hospital Market is expected to witness steady growth in the coming years due to increasing penetration of private hospital chains in the country. Additionally, supportive government initiatives and policies in improvising the overall healthcare system across the country is expected to support the market growth through 2027. Also, the flourishing medical tourism industry across the country is expected to create lucrative opportunities for the market growth during the forecast period.” 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, 2017-2027F”, 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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