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Report
Malaysia Medical Tourism Market, By Type (Inbound v/s Outbound), By Treatment Type (Orthopedic Treatment, Cardiovascular Treatment, Gynecological Treatment, Dental Treatment, Fertility Treatment, Cosmetic Treatment, Others), By Region, Competition, Forecast & Opportunities, 2018-2028F
Market Report I 2023-07-01 I 77 Pages I TechSci Research
Malaysia Medical Tourism Market is anticipated to witness impressive growth during the forecast period on account of numerous initiatives taken by the Malaysian government to boost medical tourism in the country. Some of the initiatives taken by the Malaysian government include the inception of the Malaysian Healthcare Travel Council (MHTC) in 2005 to facilitate medical tourism in the country. This has led to an increased number of visitors in Malaysia for different kinds of treatments. For instance, around 1.22 million people traveled to Malaysia for medical purposes in 2019. Additionally, in 2020, Malaysia was recognized as the Health and Medical Tourism: Destination of the Year by the International Medical Travel Journal (IMTJ) Medical Travel Awards. Recently, the MHTC unveiled the Malaysia Healthcare Travel Blueprint for the period between 2021-2025 with its goal of achieving a revenue of USD380 million or RM1.7 billion by 2025. Besides, MHTC has also started promoting its hospitals for availing different types of treatments to various countries, including Cambodia, Vietnam, Myanmar, Brunei, and Middle Eastern countries such as Qatar, Saudi Arabia, and Oman. All these factors are expected to create lucrative opportunities for market growth in the coming years.
Increasing Adoption of Advanced Technologies
The widespread adoption of advanced healthcare technologies, treatments, and devices in the country is expected to attract a lot of medical tourists to the country. For instance, in 2020, the National Heart Institute successfully implanted a Micra AV pacemaker. This made the National Heart Institute the first hospital outside of the United States to perform such a procedure. Additionally, supportive government initiatives such as the Traditional & Complementary Medicine (T&CM) Act of 2016, which focuses on incorporating traditional and complementary medicine in the country, are expected to drive the growth of the medical tourism market in the forecast period.
Affordability and Internationally Recognized Hospitals
The overall cost of availing different treatments is much lesser in Malaysia than that in the Western world. For instance, a coronary artery bypass graft surgery that costs around USD77,000 only amounts to USD16,000 in Malaysia. Additionally, the presence of JCI-accredited hospitals in the country is further expected to support market growth during the forecast period. As of 2020, Malaysia had around 12 JCI Accredited hospitals.
Increasing Fertility Tourism
Malaysia leads among different countries in terms of in-vitro fertilization success rates. Most of the reputed clinics in Malaysia have a success rate of around 65-70%, which is the highest as compared to other parts of the globe. This, in turn, leads to the attraction of a large number of visitors from across the globe to Malaysia to avail of in-vitro fertilization treatments. Additionally, the cost of in vitro fertilization treatment is quite affordable in Malaysia and ranges between USD3163.84-USD3615.82 (RM14,000-RM16,000). Also, the presence of a highly experienced team of fertility specialists, embryologists, nurses, and support staff is further expected to increase the number of visitors to Malaysia for fertility treatments. This, in turn, is expected to boost the medical tourism market in the country.
Market Segmentation
Malaysia Medical Tourism Market can be segmented based on type, treatment type, and region. Based on type, the market can be divided into Inbound and Outbound. Based on treatment type, the market can be segmented into Orthopedic Treatment, Cardiovascular Treatment, Gynecological Treatment, Dental Treatment, Fertility Treatment, Cosmetic Treatment, and Others.
Market Players
KPJ Healthcare Berhad, Dentalpro Group, Island Hospital, Mahkota Medical Centre, Prince Court Medical Centre, IJN Health Institute, Mahkota Medical Centre, Sunway Medical Centre, Tropicana Medical Centre, Pantai Holdings Berhad are some of the leading players operating in the Malaysia Medical Tourism Market.
Report Scope:
In this report, Malaysia Medical Tourism Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
- Malaysia Medical Tourism Market, By Type:
o Inbound
o Outbound
- Malaysia Medical Tourism Market, By Treatment Type:
o Orthopedic Treatment
o Cardiovascular Treatment
o Gynecological Treatment
o Dental Treatment
o Fertility Treatment
o Cosmetic Treatment
o Others
- Malaysia Medical Tourism Market, By Region:
o West Malaysia
o East Malaysia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Malaysia Medical Tourism 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).
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. Malaysia Medical Tourism Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type (Inbound v/s Outbound)
5.2.2. By Treatment Type (Orthopedic Treatment, Cardiovascular Treatment, Gynecological Treatment, Dental Treatment, Fertility Treatment, Cosmetic Treatment, Others)
5.2.3. By Region
5.2.4. By Company (2022)
5.3. Market Map
5.3.1. By Type
5.3.2. By Treatment Type
5.3.3. By Region
6. West Malaysia Medical Tourism Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Treatment Type
7. East Malaysia Medical Tourism Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Treatment Type
8. Market Dynamics
8.1. Drivers
8.2. Challenges
9. Market Trends & Developments
10. Policy & Regulatory Landscape
11. India Economic Profile
12. Competitive Landscape
12.1. Competition Outlook
12.2. Company Profiles
12.2.1 KPJ Healthcare Berhad
12.2.2 Dentalpro Group
12.2.3 Island Hospital
12.2.4 Mahkota Medical Centre
12.2.5 Prince Court Medical Centre
12.2.6 IJN Health Institute
12.2.7 Mahkota Medical Centre
12.2.8 Sunway Medical Centre
12.2.9 Tropicana Medical Centre
12.2.10 Pantai Holdings Berhad
13. Strategic Recommendations
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