Malaysia Cancer Immunotherapy Market Analysis

Malaysia Cancer Immunotherapy Market Executive Analysis

Malaysia's cancer immunotherapy market is expected to witness growth from $181 Mn in 2022 to $318 Mn in 2030 with a CAGR of 7.3% for the forecasted year 2022-30. $8 Bn has been set up in Budget 2023 for the Ministry of Health (MOH), continuing the previous administration's dedication to health. The unity government's $8 Bn allocation for MOH is a slight 0.5% increase over the previous year's $8 Bn initial budget announcement. This budget includes an $0.67 Bn allocation for more than 1,500 newly appointed permanent and contract medical, dental, and pharmacy officers who have been waiting for so long, as well as the requirement for the purchase of medications, reagents, vaccines, and consumables.

In Malaysia, there were 48,639 new cases of cancer reported in 2020. In Malaysia, the prevalence of cancer is expected to double by 2040. In Malaysia, one in ten people will be told they have cancer at some point in their lives. One in ten men and one in nine women in Malaysia are at a lifetime risk of acquiring cancer. Breast cancer, Colorectal (colon) cancer, Lung cancer, Nasopharyngeal cancer (one of the head & neck cancers), and Liver cancer are Malaysia's top 5 most frequent malignancies.

To strengthen the immune system and assist the body in locating and eliminating cancer cells, immunotherapy is a method of cancer treatment. The immune system recognizes aberrant cells, eliminates them, and most likely stops or slows the growth of many malignancies as part of its regular activity. Immune cells, for instance, can occasionally be discovered in and around malignancies. These lymphocytes, also known as tumour-infiltrating lymphocytes, or TILs, are evidence that the tumour is being recognized by the immune system. People who have cancers that have TILs frequently fare better than those whose tumours do not. In a lab, monoclonal antibodies are created to supplement or replace the body's antibodies. In several ways, monoclonal antibodies can aid in the battle against cancer. They can be employed, for instance, to prevent aberrant proteins in cancer cells from acting normally. This is also regarded as a sort of targeted therapy, which is a method of treating cancer with drugs that specifically target the genes, proteins, or tissue environment that supports the growth and survival of the tumour. Other monoclonal antibodies work by blocking or preventing immunological checkpoints to strengthen your immune system. The body employs immunological checkpoints to automatically halt immune responses and stop the immune system from attacking healthy cells. These checkpoints can be activated by cancer cells to help them conceal themselves from the immune system. With the use of checkpoint inhibitors, cancer cells cannot suppress the immune system. These inhibitors frequently disrupt the PD-1/PD-L1 and CTLA-4 pathways as checkpoints.

Market Dynamics

Market Growth Drivers

The prevalence of cancer is increasing in Malaysia as a result of an ageing population and shifting lifestyle habits. The National Cancer Registry predicts that by 2025, there will be a 35% increase in the number of new cancer cases in Malaysia. The demand for immunotherapy therapies is anticipated to rise as a result of this rising prevalence. The demand for immunotherapy for cancer treatment is anticipated to rise as more individuals become aware of its advantages. Patients are looking for treatments that are less harmful and more effective so they can live better lives. The Malaysian government is aggressively encouraging the growth of the pharmaceutical and biotechnology businesses. The government unveiled a new strategy in 2021 to assist the growth of the biotechnology sector, which included funding for new drug development and research. Clinical trials and drug development are supported by Malaysia's regulatory environment. The government has taken steps to expedite the review of novel medications, which has drawn international investment to the biotechnology industry. These factors are responsible for the growth of Malaysia's cancer immunotherapy market.

Market Restraints

The high cost of cancer immunotherapy therapies can prevent some patients from receiving them. The development of novel therapies and research in this area may potentially be hampered by the high cost of existing immunotherapy medications. The broad use of immunotherapy therapies may not be supported by Malaysia's healthcare infrastructure. It's possible that some hospitals don't have the tools or the staff who can deliver these therapies. While immunotherapy is a potential cancer treatment, it is up against more tried-and-true options like chemotherapy and radiotherapy. Due to comfort or affordability, some patients may decide to continue with these well-established treatments hence limiting the expansion of Malaysia's cancer immunotherapy market.

Competitive Landscape

• Solution Group Berhad (MYS)
• Agilent Technologies (MYS)
• CryoCord (MYS)
• Ligno Biotech (MYS)
• Hematogenix (MYS)
• Amgen
• AstraZeneca
• Bayer
• Bristol-Myers Squibb
• ELI Lilly
• F Hoffman-La Roche
• Janssen

Healthcare Policies and Regulatory Landscape

The comprehensive healthcare system in Malaysia covers cancer treatment and has reimbursement guidelines. The public healthcare system in Malaysia, which is supported by taxes and government funding, offers cancer treatment options. In addition, the nation has private healthcare facilities that provide cancer treatment services. Whether a patient receives treatment in a public or private healthcare facility determines the extent of coverage for cancer treatment in Malaysia. While commercial healthcare providers typically charge a greater premium for their services, public healthcare facilities give cancer treatment services to Malaysians for free or at a significantly reduced cost. The Malaysian Ministry of Health oversees the nation's payment regulations for cancer care. The ministry has devised a system of reimbursement that includes both public and private healthcare providers' services for cancer treatment. Through the Ministry’s Health Travel Assistance Scheme, which pays for patients' travel costs and medical costs when they travel for cancer treatment, patients who receive care at public healthcare institutions may submit a claim for reimbursement.