Malaysia Diagnostic Labs Market, By Provider Type, By Test Type, By End User, By Region, Competition, Forecast & Opportunities, 2017-2027F

Malaysia Diagnostic Labs Market Stood at USD 1011.24 Million in 2021 and is Expected to Reach a CAGR of 7.89% During the Forecast Period.

Malaysia diagnostic labs market stood at USD 1011.24 Million in 2021 and is expected to reach a CAGR of 7.89% during the forecast period. The rise in non-communicable diseases is increasing the demand for regular check-ups and multiple tests. In Malaysia, the prevalence of non-communicable diseases (NCDs) has increased during the last two decades. According to Novartis Malaysia, non-communicable diseases are responsible for 74% of all fatalities in Malaysia. In addition to the contagious COVID-19 virus, people with non-communicable diseases are more likely to experience additional consequences that can dramatically deteriorate their health. Initiated by Novartis Malaysia, the "NCDs in the New Normal" workshop aims to actively educate patients, caregivers, and the public to manage their health.

Furthermore, the rise in the geriatric population of Malaysia is another factor associated with non-communicable diseases. According to a declaration made by Malaysia's Chief Statistician in July 2019, there will be an increase of 15% in the current geriatric population by 2030. Malaysia's age distribution has changed during the last ten years. The percentage of people aged 0 to 14 has been rapidly declining, but the opposite was true for people 65 and older. This trend was reflected by the average age of the Malaysian population, which was projected to rise from 28.2 years in 2015 to 34.1 years in 2030. Due to changes in dietary habits, poor dentition, and amounts of food consumed, malnutrition is also a major problem in the elderly of the nation. The growing aging population and the rise of non-communicable diseases in the country will lead to more visits to diagnostic centers for disease diagnosis before hospitalization, enhancing the growth of the Malaysia diagnostic labs market.

Use of Digital Pathology to Augment Pathological Diagnosis

Digital pathology boosts productivity and efficiency, which helps pathologists to assess and cooperate quickly, remotely, transparently, and consistently. In the long run, computer-assisted diagnosis (CAD) and personalized care may all be a future of digital pathology. Pathologists can specialize in big data software, which extracts information from many data sets at once. This software can easily manage data for teaching and training and enables the expansion of practices to more geographically diverse areas. As a result of the development of digital pathology, pathologists can now operate remotely and collaborate with other professionals when a second opinion is required because digital pictures are saved on secure servers and can be viewed on computer monitors. Using digital pathology speeds up productivity and allows quicker diagnosis.

Growth in Medical Tourism

Malaysia is now considered one of Asia's most perceived emerging nations for medical tourism. Patients worldwide are running to Malaysia for great medical care administration. Malaysia has many bests in-class private physicians focusing on the different scopes of cutting-edge symptomatic, remedial, and in-patient administrations. Individuals are selecting Malaysia for medical assistance and treatment administrations. The government of Malaysia has allowed tax cuts, a change in tax law that works by reducing the amount of tax a person pays, hence advancing the growth of the clinical and travel industry in medical tourism. Medical care in Malaysia is under the Ministry of Health (MOH) domain. Malaysia has become one of the best options for unfamiliar patients looking for all medical services abroad.

Demand of Genetic Testing

Expanding interest in genetic testing also drives the market. Genetic testing helps patients make significant choices in the treatment or early discovery of genetic problems. The high occurrence rate of irresistible illnesses in Malaysia, as well as developing attention to the significance of early diagnosis and accuracy in test analysis, is expanding the patients' visits to diagnostic laboratories for testing.

Government Initiatives for Investment in Healthcare Sector

Malaysia's government plans to advance market development by investing in multiple sectors like developing drug and diagnostic tools, clinical research facilities, and diagnostic laboratories. A-Bio has contributed a whooping amount of USD1.8 million to Clinipath Malaysia Sdn. Bhd. (Clinipath) to catalyze the digitalization of the medical care industry in Malaysia. Malaysia has a strategy of all-inclusive wellbeing inclusion. The public authority/government plans to give sponsored medical care at minimum charges. The sponsored plans are looked after and managed by the Ministry of Health (MOH) through its government, state, and local offices. General health check-ups conducted by the government of Malaysia are on the rise, presenting a possible chance of market growth.

Market Segmentation

The Malaysia diagnostic labs market is segmented based on provider type, test type, end user, and regions distribution. Based on provider type, the market can be split among hospital based diagnostic labs, diagnostic chains, and stand-alone diagnostic labs. Based on test type, the market can be divided into pathology and radiology. In terms of end users, the market can be categorized into referrals, walk-ins, and corporate clients.

Company Profiles

Pantai Premier Pathology Sdn Bhd, Sunway Medical Centre, Lablink (M) Sdn Bhd, Pathology & Clinical Laboratory (M) Sdn. Bhd., Quantum Diagnostics Sdn Bhd, B.P. Clinical Lab Sdn. Bhd. (BP Lab), Innoquest Pathology, Clinipath Malaysia Sdn. Bhd., Neogenix Laboratoire Sdn Bhd, Sysmex Malaysia Sdn. Bhd.

Report Scope:

In this report, Malaysia diagnostic labs market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Malaysia Diagnostic Labs Market, By Provider Type:

• Hospital Based Diagnostic Labs
• Diagnostic Chains
• Stand Alone Diagnostic Labs

Malaysia Diagnostic Labs Market, By Test Type:

• Pathology
• Radiology

Malaysia Diagnostic Labs Market, By End User:

• Referrals
• Walk-ins
• Corporate Clients

Malaysia Diagnostic Labs Market, By Region:

• West Malaysia
• East Malaysia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Malaysia diagnostic labs market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs.