Malaysia Biomaterials in Healthcare Market Report 2022 to 2030

Malaysia Biomaterials in Healthcare Market Analysis

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Malaysia Biomaterials in Healthcare Market is expected to witness growth from $251 Mn in 2022 to $687 Mn in 2030 with a CAGR of 13.40% for the forecasted year 2022-30. Malaysia is seeing an increase in demand for cosmetic and plastic surgery due to growing disposable incomes and the availability of reasonably priced, high-quality healthcare services. Because biomaterials are frequently used in these procedures, manufacturers have chances to supply the market. The market is segmented by type and by application. Some key players in this market include Bioalpha Holdings Berhad, Biocon Sdn Bhd, Hovid Berhad, BASF SE, Johnson and Johnson, Medtronic and Evonik Industries.

ID: IN10MYMD003 CATEGORY: Medical Devices GEOGRAPHY: Malaysia AUTHOR: Jigyasu Bhandari

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Malaysia Biomaterials in Healthcare Market Executive Analysis

Malaysia Biomaterials in Healthcare Market is expected to witness growth from $251 Mn in 2022 to $687 Mn in 2030 with a CAGR of 13.40% for the forecasted year 2022-30. Malaysia anticipates spending $16 Bn on healthcare in 2023, a 7.1% rise from 2019. According to their forecast, healthcare costs will increase by 7.6% over the next five years, reaching $22.6 Bn by 2027. By 2045, Malaysia, one of the oldest nations on the planet, is expected to have 14% of its people be 65 or older.

Orthopaedic implants, including hip and joint replacements, are frequently made using biomaterials like polyethene, cobalt-chromium, and titanium. Dental implants are made of biomaterials like titanium and zirconia and are used to substitute missing teeth. Cardiovascular devices like pacemakers and mechanical heart valves are made of biomaterials like silicone and polyurethane. In order to encourage tissue regeneration and healing, biomaterials like collagen and hyaluronic acid are used in wound healing uses. Because they are intended to be biocompatible, biomaterials do not damage living tissues. Infection and rejection danger are decreased as a result. Biomaterials can be modified to meet unique application requirements and patient requirements. This makes it possible for increased patient satisfaction and better results. Biomaterials can last longer and require fewer replacements because they are frequently more resilient than native tissues. Biomaterials can speed up recovery periods and improve patient outcomes by promoting tissue regeneration and healing.

malaysia biomaterials in healthcare market

Market Dynamics

Market Growth Drivers

Malaysia is seeing an increase in demand for cosmetic and plastic surgery due to growing disposable incomes and the availability of reasonably priced, high-quality healthcare services. Because biomaterials are frequently used in these procedures, manufacturers have chances to supply the market. Medical conditions like osteoarthritis and coronary artery disease are becoming more common among Malaysia's aging population, which means that more people need medical attention. The demand for biomaterials used in orthopaedic and cardiovascular devices is being driven by this. Due to an expanding healthcare infrastructure and rising healthcare service demand, healthcare spending is climbing in Malaysia. This is giving biomaterials producers the chance to offer the healthcare industry the newest biomaterials. New and inventive biomaterials are being created as a result of advancements in biomaterials technology that offer better biocompatibility, longevity, and other qualities. The demand for these novel biomaterials in medical applications is being driven by this.

Market Restraints

In Malaysia, some patients may find it more difficult to access biomaterials because they are frequently more costly than conventional materials used in healthcare applications. The expense of biomaterials may need to be decreased by the manufacturers in order to make them more accessible.

Competitive Landscape

Key Players

Bioalpha Holdings Berhad (MY)
Biocon Sdn Bhd (MY)
Hovid Berhad (MY)
BASF SE
Johnson and Johnson
Medtronic
Evonik Industries

Notable Recent Deals

2021: Axolotl Biosystems, a Singapore-based startup with a focus on creating biomaterials for tissue engineering, recently revealed a collaboration with Universiti Sains Malaysia to create a novel skin graft made of biomaterials for burn victims.

Healthcare Policies and Regulatory Landscape

In Malaysia, The Medical Device Authority (MDA), which is in charge of registering and regulating biomaterials, is in charge of overseeing the regulatory structure for biomaterials used in healthcare in Malaysia. The Medical Device Act of 2012 and its accompanying rules are followed by the MDA, which is a division of the Ministry of Health. Manufacturers must register their products with the MDA and have their devices approved before they can market biomaterials in Malaysia. To prove the device's safety and effectiveness, a variety of technical and clinical statistics must be submitted. Within a given timeframe, the MDA will examine the information and decide. The National Strategic Plan for Advanced Materials, developed by the Malaysian government, seeks to encourage the creation and use of advanced materials, including biomaterials, in the medical field and other sectors. The strategy calls for building local manufacturing capacity, promoting the use of advanced materials in healthcare uses, and supporting research and development in advanced materials.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Biomaterials in Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on type, the market is segmented into Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials, and Natural Biomaterials. The Metallic Biomaterials segment accounted for the largest share of the Malaysia market in 2019. The growing geriatric population Malaysialy is expected to drive growth for this segment.

Metallic Biomaterials
- Stainless Steel
- Titanium & Titanium Alloys
- Cobalt-Chrome Alloys
- Gold
- Silver
- Magnesium
Polymeric Biomaterials
- Polymethylmethacrylate
- Polyethylene
- Polyester
- Silicone Rubber
- Nylon
- Polyetheretherketone
- Other Polymeric Biomaterials
Ceramics
- Calcium Phosphate
- Zirconia
- Aluminum Oxide
- Calcium Sulfate
- Carbon
- Glass
Natural Biomaterials
- Hyaluronic Acid
- Collagen
- Gelatin
- Fibrin
- Cellulose
- Chitin
- Alginates
- Silk

By Application (Revenue, USD Billion):

The cardiovascular, orthopaedic, dental, plastic surgery, wound healing, tissue engineering, ophthalmology, neurological/CNS, and other applications segments are made up of the biomaterials market. The market category for wound healing is anticipated to have the highest CAGR in 2019. The market will increase as a result of factors including expanding healthcare infrastructure, a large population pool, a rising diabetic population, and rising healthcare spending. Surgical Guides

Cardiovascular
- Catheters
- Stents
- Implantable Cardiac Defibrillators
- Pacemakers
- Sensors
- Heart Valves
- Vascular Grafts
- Guidewires
- Others
Orthopedic
- Joint Replacement
  - Knee Replacement
  - Hip Replacement
  - Shoulder Replacement
  - Others
- Viscosupplementation
- Bioresorbable Tissue Fixation
- Spine?
  - Spinal Fusion Surgeries
  - Minimally Invasive Fusion Surgeries
  - Motion Preservation & Dynamic Stabilization Surgeries
    - Pedicle-Based Rod Systems
    - Interspinous Spacers
    - Artificial Discs
- Fracture Fixation Devices
  - Bone Plates
  - Screws
  - Pins
  - Rods
  - Wires
- Synthetics Bone Grafts
Ophthalmology
- Contact Lenses
  - Intraocular Lenses
  - Functional Replacement of Ocular Tissues
  - Synthetic Corneas
  - Others
Dental
- Dental Implants
- Dental Bone Grafts & Substitutes
- Dental Membranes
- Tissue Regeneration
Plastic Surgery
- Soft-Tissue Fillers
- Craniofacial Surgery
Wound Healing
- Wound Closure Devices
  - Sutures
  - Staples
- Surgical Hemostats
- Internal Tissue Sealants
- Adhesion Barriers
- Hernia Meshes
Tissue Engineering
- Scaffolds for Regenerative Medicine
- Nanomaterials for Biosensing
- Tailoring of Inorganic Nanoparticles
  ?
Neurological/Central Nervous System Applications
- Shunting Systems
- Cortical Neural Prosthetics
- Hydrogel Scaffolds for CNS Repair
- Neural Stem Cell Encapsulation
  ?
Other Applications
- Drug Delivery Systems
- Gastrointestinal Applications
- Bariatric Surgery
- Urinary Applications

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

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How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.