Malaysia Medical Tourism Market, By Type, By Treatment Type, By Region, Competition, Forecast & Opportunities, 2018 - 2028F

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:

• Inbound
• Outbound

Malaysia Medical Tourism Market, By Treatment Type:

• Orthopedic Treatment
• Cardiovascular Treatment
• Gynecological Treatment
• Dental Treatment
• Fertility Treatment
• Cosmetic Treatment
• Others

Malaysia Medical Tourism Market, By Region:

• West Malaysia
• East Malaysia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Malaysia Medical Tourism Market.

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