Malaysia Medical Tourism Market Research Report - Forecast Till 2032

Malaysia Medical Tourism Market Research Report: Information By Procedure Type (Cardio {Angiogram, Angioplasty, ASD Closure, Atherectomy, Pacemakers, Radiofrequency Ablation, Watchman Device Implants, Cardio (Internal Medicine) Consultation, and 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, and Other Procedures}, Fertility Treatment (IVF) {Embry

ID: MRFR/HC/14655-HCR | 128 Pages | Author: Rahul Gotadki | March 2024         

Malaysia Medical Tourism Market Overview

Malaysia's medical tourism market size is expected to grow at exponential CAGR by 2032.Rising demand for specialized treatments, rise in demand for online medical agencies (OMA), and advancements in healthcare technology are the main market drivers anticipated to propel Malaysia's medical tourism market.

Malaysia Medical Tourism Market Overview

Source: MRFR Database, Primary Research, Secondary Research, and Analyst Review

Medical Tourism Market Trends

  • An increase in inbound medical travel is driving market growth.

Malaysia's medical tourism market CAGR is expanding due to growing technological advancements in the healthcare industry in terms of medical devices, surgical procedures, wearables, and connected healthcare, which have urged end-users to adopt better healthcare facilities for improving the quality of patient care. Telemedicine, information & communication technology, and telehealth have opened doors for patients worldwide to consult doctors, book appointments, and receive high-quality medical attention without hesitation. Malaysia attracts international medical tourists seeking high-quality healthcare services, state-of-the-art medical facilities, and a favorable regulatory environment. The city-state's reputation for medical excellence, skilled healthcare professionals, and strategic location contribute to its appeal. The globalization trend, coupled with Malaysia's commitment to healthcare excellence, positions the country as a preferred destination for medical tourists, fostering the expansion of its medical tourism market.

Moreover, medical tourism has offered a method for people to avoid long queues and prolonged wait times for treatment in their native country by traveling overseas for treatment. Thus, to save time and avoid aggravating their medical issues, many international patients rely on medical tourism and travel overseas to countries that offer procedures immediately. Furthermore, many national governments are focusing on promoting health and wellness tourism in their countries through various strategies. Strong government support is thus anticipated to favor medical tourism market revenue in specific regions.

Medical Tourism Market Segment Insights

Medical Tourism Service Insights

The Malaysia medical tourism market segmentation is based on service, including cardio {angiogram, angioplasty, ASD closure, atherectomy, pacemakers, radiofrequency ablation, watchman device implants, cardio (internal medicine) consultation, and 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, and other procedures}, fertility treatment (IVF) {embryo transplants, fertility treatments (IVF) consultation, and other procedures}, orthopedic treatments {arthroplasty, arthroscopy, fracture repair, hip replacement, internal fixations, knee replacement, physiotherapy, and orthopedic consultation}, dental treatments {dental implants, dental treatment consultation, and other procedures}, ophthalmology {corneal transplants, ophthalmology consultation, and other procedures}, asthetics/cosmetic surgery {hair transplants, breast augmentation procedures, rhinoplasty face lift, liposuction, tummy tuck, aesthetics/cosmetic consultation, and other procedures}, neurology {brain surgery, neurology consultation, and other procedures}, regenerative therapy (stem cells) {stem cell transplant, regenerative therapy (stem cells) consultation, and other procedures}, medical check-ups (health screening), and others {kidney & liver transplants, other general consultation, and other procedures}. The oncology segment dominated the market due to the nation's reputation for offering high-quality cancer treatment services at competitive prices. World-class healthcare facilities, skilled medical professionals, and state-of-the-art technology attract international patients seeking cost-effective, excellent oncology care. Malaysia's strategic positioning as a medical tourism hub for oncology contributes significantly to the sector's growth.

Figure 1: Malaysia Medical Tourism Market, by Service, 2022 & 2032 (USD Billion)

Malaysia Medical Tourism Market, by Service, 2022 & 2032

Source: Primary Research, MRFR Database, Secondary Research, and Analyst Review

Medical Tourism Country Insights

The medical tourism market is witnessing growth driven by the country's renowned healthcare infrastructure, internationally accredited medical facilities, and skilled healthcare professionals, attracting many medical tourists. Malaysia offers cost-effective medical procedures compared to many Western countries, contributing to its competitiveness in the medical tourism industry. The government's support, strategic marketing initiatives, and emphasis on high-quality healthcare services further fuel the industry's growth. Malaysia's cultural diversity, modern amenities, and attractive tourist destinations enhance its appeal as a medical tourism destination, positioning it as a leading player in the medical tourism market.

Medical Tourism Key Market Participants & Competitive Insights

Prominent market players invest heavily in R&D to enhance their product lines, expanding the medical tourism market even more. Market players are also undertaking different strategic activities to expand their footprint, with substantial market developments such as new product establishment, mergers and acquisitions, contractual agreements, and collaboration with other organizations. The medical tourism industry must deliver cost-effective items to extend and stay in a more competitive and rising market climate.

Major players in the medical tourism market are attempting to extend market needs by investing in research and development operations, including KPJ Healthcare Berhad, Dentalpro Group, Prince Court Medical Centre, Island Hospital, Mahkota Medical Centre, Sunway Medical Centre, and LohGuanLye Specialists Centre.

Key Companies in the Medical Tourism market include

Medical Tourism Market Segmentation

Medical Tourism Service Outlook

  • Cardio

    • Angiogram

    • Angioplasty

    • ASD Closure

    • Atherectomy

    • Pacemakers

    • Radiofrequency Ablation

    • Watchman 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 Treatment (IVF)

    • Embryo Transplants

    • Fertility Treatments (IVF) Consultation

    • Other procedures

  • Orthopedic Treatments

    • Arthroplasty

    • Arthroscopy

    • Fracture Repair

    • Hip Replacement

    • Internal Fixations

    • Knee Replacement

    • Physiotherapy

    • Orthopedic Consultation

  • Dental Treatments

    • 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 & Liver Transplants

    • Other General Consultation

    • Other Procedures

Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD XX Billion
Market Size 2023 USD XX Billion
Market Size 2032 Significant Value
Compound Annual Growth Rate (CAGR) XX% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Growth Factors, Revenue Forecast, Market Competitive Landscape, and Trends
Segments Covered Service and Region
Countries Covered Malaysia
Key Companies Profiled KPJ Healthcare Berhad, Dentalpro Group, Prince Court Medical Centre, Island Hospital, Mahkota Medical Centre, Sunway Medical Centre, and LohGuanLye Specialists Centre
Key Market Opportunities Rising demand for specialized treatments.
Key Market Dynamics Rise in the demand for online medical agencies (OMA)

Frequently Asked Questions (FAQ) :

The Malaysia medical tourism market size was esteemed at USD XX Billion in 2022.

The market is projected to expand at exponential CAGR during the forecast period, 2023-2032.

The prominent players in the market are Bumrungrad International Hospital, Apollo Hospitals, Bangkok Chain Hospital, Fortis Healthcare, Asian Heart Institute, KPJ Healthcare Berhad, Livonta Global, and Gleneagles Hospital.

The oncology category dominated the market in 2022.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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