Published: May, 2018

The Malaysia medical tourism market depicts a fierce competition to exist between its players thanks to numerous healthcare providers who are improving their footing in the region, says Transparency Market Research on the basis of a recently published report. However, in spite of numerous players operating in the market, the vendor landscape showcases substantial consolidation to exist, as only a handful of players hold maximum shares.

Most companies are focusing on expanding their geographical reach as a chief strategy to attract a handsome revenue. Improving foreign customer bases is another key scheme, which is being implemented by many players operating in the global Malaysia tourism market. With innumerable companies projected to make their foray in this field during the forthcoming years, the level of competition is expected to further intensify. Pantai Holdings Berhad, Tropicana Medical Centre., KPJ Healthcare Berhad, IJN Health Institute, Prince Court Medical Centre, LohGuanLye Specialists Centre, Sunway Medical Centre, Dentalpro Group, Island Hospital, and Mahkota Medical Centre, are a few prominent companies working in the Malaysia medical tourism market.

malaysia medical tourism marketThe medical tourism market in Malaysia will expand at a stellar CAGR of 30.05% from 2016 to 2024, consequently attracting a revenue worth US$3.5 bn by 2024. This is an incredible rise in the market’s revenue, especially after a low initial valuation of US$424.96 mn that was achieved in 2016.

Rise in Sporting Events Boosts Medical Service Sector Owing to Higher Injury Occurrences

Offering healthcare services for cheaper costs compared to the expense of the same services and treatments provided in developed countries is attracting many people to Malaysia to opt for the same. Thus, the lure of cheap, yet quality medical care is one of the foremost factors responsible for driving the Malaysia medical tourism market. Rise in sporting events in Southeast Asia has also caused the market to witness a phenomenal growth, as players and athletes might experience injuries frequently. Thus, timely treatment made available through fast-paced medical facilities in Malaysia has been notably driving the global Malaysia tourism market. Lastly, widespread advancements occurring in the healthcare and medical sector of this region have managed to trigger the Malaysia medical tourism market to pick up a substantial pace too.

Medical Inflation Poses as an Enemy to the Market, Dampens Revenue Gained

On the flipside, the Malaysia medical tourism market is being greatly hindered due to a prominent instance of medical inflation that had occurred in 2015. However, effects of this inflation are still affecting the market to this date. Low revenue generated per client, rising healthcare costs, and surging burden on the country’s healthcare system are other factors posing as substantial restraints affecting the Malaysia medical tourism market. Nevertheless, the market is still expected to attract a sizeable number of travelers seeking medical attention, thereby opening new doors towards generating bountiful revenue during the upcoming years.

This review is based on a TMR’s report, titled, “Medical Tourism Market (Procedure Type - Cardio Internal Medicine, Cardiothoracic Surgery Oncology, Fertility Treatments, Orthopedic Treatment, Dental Treatment, Ophthalmology, Aesthetics/Cosmetic Surgery, Neurology, Regenerative Therapy, Medical Check-Ups, and Kidney and Liver Transplants) - Malaysia Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.

Key Takeaways:

  • Most companies in the market are focusing on expanding their geographical reach as a prime strategy to attract a handsome revenue.
  • The lure of cheaper, yet quality medical care is one of the foremost factors responsible for driving the Malaysia medical tourism market.

The report segments the Malaysia medical tourism market as:

Malaysia Medical Tourism Market, by Procedure Type

 

  • Cardio (Internal Medicine)
    • Angiogram
    • Angioplasty
    • ASD closure
    • Atherectomy
    • Pacemakers
    • Radiofrequency ablation
    • Watchmen device implants
    • Cardio (Internal medicine) consultation
    • Others
  • Cardiothoracic Surgery
    • Heart Valve Replacement
    • Coronary artery bypass
    • Heart transplant
    • Stenting
    • Cardiothoracic consultation
    • Other Procedures (Cardiomyoplasty, PTMC Valve)
  • Oncology
    • Bone Marrow Transplant
    • Oncology consultation
    • Other procedures
  • Fertility treatments (IVF)
    • Embryo Transplants
    • Fertility treatments (IVF) consultation
    • Other procedures
  • Orthopedic treatment
    • Arthroplasty
    • Arthroscopy
    • Fracture repair
    • Hip replacement
    • Internal fixations
    • Knee replacement
    • Physiotherapy
    • Orthopedic consultation
  • Dental treatment
    • Dental Implants
    • Dental treatment consultation
    • Other procedures
  • Ophthalmology
    • Corneal Transplants
    • Ophthalmology consultation
    • Other procedures
  • Aesthetics / Cosmetic Surgery
    • Hair Transplants
    • Breast Augmentation Procedures
    • Rhinoplasty
    • Face Lift
    • Liposuction
    • Tummy Tuck
    • Aesthetics / Cosmetic consultation
    • Other procedures
  • Neurology
    • Brain Surgery
    • Neurology consultation
    • Other procedures
  • Regenerative Therapy (Stem cells)
    • Stem Cell Transplant
    • Regenerative Therapy (Stem cells) consultation
    • Other procedures
  • Medical check - ups (Health screening)
  • Others
    • Kidney and Liver Transplants
    • Other general consultation
    • Other procedures

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