Malaysia Connected Healthcare Market Report 2022 to 2030

Malaysia Connected Healthcare Market Analysis

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The Malaysia-connected healthcare market is projected to grow from $106.69 Mn in 2022 to $798.09 Mn by 2030, registering a CAGR of 28.6% during the forecast period of 2022 - 2030. The main factors driving the growth would be increasing healthcare spending, the ageing population, high smartphone penetration and government support. The market is segmented by type, function and by application. Some of the major players include IHH Healthcare Berhad, Zuellig Pharma, Qualitas Medical Group, Siemens Healthineer, GE Healthcare and Medtronic.

ID: IN10MYHS004 CATEGORY: Healthcare Services GEOGRAPHY: Malaysia AUTHOR: Neha Davda

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Malaysia Connected Healthcare Market Executive Summary

The Malaysia-connected healthcare market is projected to grow from $106.69 Mn in 2022 to $798.09 Mn by 2030, registering a CAGR of 28.6% during the forecast period of 2022 - 2030. Malaysia spent $437 per person on health expenses or 3.83% as a proportion of GDP in 2019. Malaysia, an upper middle-income country, has a health system that combines public and private providers to deliver a variety of therapies.

In Malaysia, the adoption of connected healthcare solutions is viewed as a viable strategy for overcoming some of these difficulties and raising the standard and effectiveness of healthcare. In recent years, Malaysia has made large expenditures in projects and infrastructure related to digital healthcare. For instance, the Telemedicine Development Group, established by the Ministry of Health in 2018, aspires to create and deploy telemedicine services throughout the nation. Also, the government has started programs to encourage the use of mobile health apps and electronic health records, especially in rural areas.

Malaysia Connected Healthcare Market

Market Dynamics

Market Growth Drivers

The Malaysia-connected healthcare market is expected to be driven by factors such as:

Increasing healthcare spending- Malaysia's spending on healthcare has been rising consistently as a result of factors like population expansion, rising income levels, and a burgeoning middle class. The increased demand for healthcare services has given technology firms and healthcare providers the chance to develop and implement creative solutions
Ageing population- The population of Malaysia is ageing quickly, and a growing number of people need healthcare services for long-term illnesses including diabetes and heart disease. By remote monitoring and individualised care, connected healthcare systems can assist in better managing chronic illnesses
High smartphone penetration- In Malaysia, more than 70% of people own a smartphone, making it a country with a high smartphone penetration rate. Due to this, a large potential market has been established for mobile health applications and other connected healthcare solutions
Government support- The adoption of connected healthcare solutions has been aggressively encouraged by the Malaysian government to enhance healthcare delivery and accessibility, particularly in rural regions. The creation of supportive rules and regulations as well as greater investment in digital healthcare initiatives and infrastructure have resulted from this

Market Restraints

The following factors are expected to limit the growth of the connected healthcare market in Malaysia:

Limited digital literacy- Although smartphones are widely used in Malaysia, many people still lack the digital literacy skills needed to use digital healthcare solutions efficiently. This could make it more difficult for people to embrace these solutions and reduce their appeal, especially to older people or people who live in remote areas
Data privacy and security concerns- The adoption of connected healthcare technologies in Malaysia may be hampered by concerns about data security and privacy. If patients and healthcare professionals are unsure that their personal and medical information will be kept private, they may be reluctant to employ these solutions
Regulatory challenges- Malaysia's regulatory framework for digital healthcare solutions is still developing, and there isn't much guidance or regulation in place. Healthcare providers and technology firms trying to develop and deploy these solutions may experience uncertainty as a result, which could reduce their willingness to engage in the industry

Competitive Landscape

Key Players

IHH Healthcare Berhad (MYS)- IHH Healthcare is a renowned Malaysian healthcare provider that has invested in digital healthcare solutions to improve patient outcomes and save healthcare costs. To increase patient access to healthcare services and aid people in managing their health, the company has created a variety of telemedicine and telemonitoring services, as well as mobile health applications
Zuellig Pharma (MYS)- The development and application of digital healthcare solutions in Malaysia have been a focus of Zuellig Pharma, a provider of healthcare services
Qualitas Medical Group (MYS)- Qualitas Medical Group is a Malaysian primary care provider that has invested in digital healthcare solutions to improve patient outcomes and save healthcare costs
Siemens Healthineer- With its subsidiary, Siemens Healthcare Sdn Bhd, it is present in Malaysia. The business produces and distributes medical imaging and diagnostic tools in addition to healthcare IT solutions
GE Healthcare- GE Healthcare, a global leader in medical technology, offers many digital health solutions, including patient monitoring, imaging systems, and health information management systems
Medtronic- Medical technology pioneer Medtronic offers a range of digital health solutions, including remote patient monitoring, insulin pumps, and cardiac monitoring apparatus

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 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 Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Connected Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on the Type the market is segmented into mHealth services, mHealth Devices, and E- Prescription

MHealth services
mHealth Devices
E- Prescription

By FunctionType (Revenue, USD Billion):

Remote patient monitoring
Clinical monitoring
Telemedicine
Others (Assisted Living)

By Application Type (Revenue, USD Billion):

Diagnosis and Treatment
Monitoring Application
Wellness and Prevention
Healthcare management
Others

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.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

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.