Malaysia Diabetes Devices Market Report 2022 to 2030

Malaysia Diabetes Devices Market Analysis

$ 3999

Malaysia's Diabetes Devices Market is expected to witness growth from $37 Mn in 2022 to $65 Mn in 2030 with a CAGR of 7.40% for the forecasted year 2022-30. Patients travel from all over the world to Malaysia for medical tourism, which is well-recognized for doing so. A key factor in the expansion of the diabetes device market is the availability of high-quality diabetes devices and services for patients seeking medical treatment in the country. The market is segmented by type and by the end user. Some key players in this market include GA2 Medical, Transmedia Healthcare, Johnson & Johnson, Medtronic, Roche, Ascensia Diabetes Care, and Dexcom.

ID: IN10MYMD007 CATEGORY: Medical Devices GEOGRAPHY: Malaysia AUTHOR: Jigyasu Bhandari

Buy Now

Malaysia Diabetes Devices Healthcare Market Executive Analysis

Malaysia's Diabetes Devices Market is expected to witness growth from $37 Mn in 2022 to $65 Mn in 2030 with a CAGR of 7.40% for the forecasted year 2022-30. In 2023, Malaysia anticipates spending $16 billion on healthcare, a 7.1% rise from 2019. They forecast that over the next five years, healthcare costs will increase by 7.6%, reaching $22.6 billion by 2027. By 2045, 14% of the population of Malaysia, one of the longest nations in the world, is expected to be 65 or older.

In adults aged 20 to 79, Malaysia has an 18.3% prevalence of diabetes, which equates to 3.9 million people dealing with the disease nationwide. Over the past few decades, diabetes has gradually increased in prevalence in Malaysia. According to estimates, the prevalence of diabetes among people aged 30-64 in 2014 was 2.5%. Adults aged 18 to 69 had a rise of 3.8% by the year 2021.

In Malaysia, to maintain optimal glucose levels and prevent diabetes complications, diabetics use diabetes devices. Medical devices include tools for managing and tracking diabetes. These devices are used to assess blood glucose levels, administer insulin, and track glucose levels over time. Diabetes tools like blood glucose meters monitor blood glucose levels in real-time. To make wise decisions regarding their diet, exercise program, and medication, people with diabetes need to be aware of this knowledge. Insulin is delivered by insulin pumps and insulin needles in diabetics. These devices help diabetics better manage their blood sugar levels and reduce their risk of complications. Diabetes devices, which can also improve a person's quality of life, help those with the disease control their condition more easily. By keeping an eye on glucose levels and dispensing insulin as needed, diabetes devices help to reduce the likelihood of complications linked to diabetes. Because they are frequently covered by the national health insurance system in Malaysia, diabetes devices are more widely accessible and less expensive for people with diabetes.

Malaysia Diabetes Devices Market Analysis

Market Dynamics

Market Growth Drivers

Patients travel from all over the world to Malaysia for medical tourism, which is well-recognized for doing so. A key factor in the expansion of the diabetes device market is the availability of high-quality diabetes devices and services for patients seeking medical treatment in the country. People in Malaysia are becoming more and more aware of the importance of controlling their diabetes. This is increasing the demand for diabetes technology and providing opportunities for manufacturers to create new products and expand their market dominance. Modern diabetes device technology, including continuous glucose monitors and intelligent insulin pens, is making it easier to control diabetes. Modern manufacturers have more opportunities to develop and sell cutting-edge devices.

Market Restraints

In Malaysia, particularly for those who lack insurance or have limited financial means, patients may find the cost of diabetes devices to be a significant barrier. Because of this, the Thai market for diabetes devices may be restricted, and manufacturers may have a hard time selling their products. Diabetes device manufacturers from Malaysia and abroad compete fiercely for market dominance. Manufacturers might find it challenging to distinguish their products from one another and compete on price as a consequence.

Competitive Landscape

Key Players

GA2 Medical (MY)
Transmedic Healthcare (MY)
Johnson & Johnson
Medtronic
Roche
Dexcom
Ascensia Diabetes Care

Recent Notable Deals

2021: A platform for managing diabetes dubbed Diabeteasy was introduced in 2021 by Sanofi Malaysia in association with the digital health startup DoctorOnCall. The platform gives users access to numerous tools and resources, such as glucose monitoring, meal planning, and medication reminders, to help them control their diabetes.

Healthcare Policies and Regulatory Landscape

The Ministry of Health (MOH) and other regulating agencies like the National Pharmaceutical Regulating Agency (NPRA) and the Medical Device Authority (MDA) are in charge of Malaysia's healthcare laws and regulations. The MDA is in charge of overseeing medical devices in Malaysia, including those used in the treatment of diabetes, including those on the market for diabetes devices. Under the Medical Device Act of 2012, diabetes devices like glucose meters, insulin pumps, and continuous glucose monitoring systems are classified as Class B medical devices. Before promoting their products in Malaysia, manufacturers and distributors of diabetes devices must acquire a medical device registration certificate from the MDA. To prove the device's safety and efficacy, technical documentation, clinical data, and labelling information must be submitted as part of the registration procedure. Insulin and other diabetes medications, as well as their importation, export, and selling, are all subject to NPRA regulations in Malaysia. Before being sold in Malaysia, pharmaceutical goods must be registered with the NPRA.

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

Diabetes Devices Market Segmentation

By Type (Revenue, USD Billion):

The market is divided into blood glucose monitoring systems, insulin delivery systems, and mobile applications for managing diabetes within the type segment. Due to its convenience, ease of use, and usefulness in providing patients and healthcare professionals with real-time insights regarding diabetic conditions for integrated diabetes management, the segment for diabetes management mobile applications is anticipated to grow at the highest rate during the forecast period. Bare-metal Stents

Blood glucose monitoring systems
Self-monitoring blood glucose monitoring systems
Continuous glucose monitoring systems
Test strips/Test papers
Lancets/Lancing Devices
Insulin delivery Devices
Insulin pumps
Insulin pens
Insulin syringes and needles
Diabetes management mobile applications

By End User (Revenue, USD Billion):

The diabetes market is divided into hospitals & specialty clinics and self & home care, based on the end user.

Hospitals & Specialty Clinics
Self & Home Care

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.