Malaysia's diabetes therapeutics market is expected to witness growth from $231 Mn in 2022 to $492 Mn in 2030 with a CAGR of 9.9% for the forecasted year 2022-30. The increasing prevalence of diabetes and the rising urbanization in Malaysia are driving the expansion of the market. The Malaysia diabetes therapeutics market is segmented by type, application, drug, route of administration, and distribution channel. Duopharma Biotech, Iniqra Pharma, and AstraZeneca are the major players in the Malaysia diabetes therapeutics market.
Malaysia's diabetes therapeutics market is expected to witness growth from $231 Mn in 2022 to $492 Mn in 2030 with a CAGR of 9.9% for the forecasted year 2022-30. The unity government's $8.25 Bn allocations for the Ministry of Health (MOH) of Malaysia represent a slight 0.5% increase over the $8 Bn initial budget release from the previous year. The MOH's $8.25 Bn allocations for 2023, however, indicate a significant 12% increase from the $7.36 Bn allocated for the previous year compared to Budget 2022. From the latest 2023 budget's total allocation of $8.25 Bn, the MOH will use $7 Bn for operating expenditures and $1.09 Bn for development costs.
The cost of diabetes in Malaysia, which is among the highest in the world and has an annual cost of about US$600 Mn, is the highest in the Western Pacific area. The frequency of diabetes increased by 68.3% from 11.2% in 2011 to 18.3% in 2020. In Malaysia, 3.6 Mn people (18 and older) had diabetes in 2020, but 49% of those cases (3.7 Mn) lacked a diagnosis. With a prevalence of 31.3%, diabetes is anticipated to affect 7 M Malaysian adults aged 18 and older by 2025, posing a serious risk to the public's health. People with diabetes in Malaysia have access to a broad range of treatment options that can help them manage their condition effectively and live healthy lives. These include both injectables like insulin and glucagon-like peptide-1 receptor agonists as well as oral anti-diabetic drugs. Today's freshly developed medications not only aid in blood glucose management but also lessen the risk of complications like kidney and heart disease.
Market Growth Drivers
Malaysia has one of the greatest rates of diabetes prevalence worldwide, according to the International Diabetes Federation. Diabetes medicines are now in greater demand as a result of this. The population of Malaysia is ageing quickly, and diabetes is more prone to strike older people. As a result, the market for diabetes treatments has grown significantly. More individuals are moving to cities as Malaysia rapidly urbanizes. Urbanization is linked to unhealthy lifestyles, such as a poor diet and inactivity, which raises the chance of developing diabetes. The demand for diabetes therapeutics has grown as a result of the development of new diabetes therapies and technological developments like glucose monitoring devices and insulin pumps. These factors have led to the expansion of the Malaysia diabetes therapeutics market.
Market Restraints
Treatment for diabetes can be costly, especially for those who need insulin therapy or sophisticated glucose-tracking equipment. This might prevent some people from getting access to diabetes treatments. Traditional medicine is favoured over modern medical procedures in some Malaysian communities. This could result in a decline in the market for diabetes treatments. While there are still some regions of Malaysia where access to healthcare services is restricted, this has improved recently. This might prevent some people from getting access to diabetes treatments limiting the growth of the Malaysia diabetes therapeutics market.
Key Players
Before they are sold on the Malaysian market, pharmaceuticals, traditional remedies, dietary supplements, and cosmetics are all subject to regulation by the National Pharmaceutical Regulatory Agency (NPRA). The NPRA inspects pharmaceutical and cosmetic products and the facilities where they are made to make sure that Good Manufacturing Practices are being followed, to monitor the licensing of producers, importers, and wholesalers, and to conduct laboratory tests on particular products. Clinical trials for novel and investigational goods are also carried out by NPRA. In addition, the NPRA conducts surveillance and pharmacovigilance operations to keep an eye on notified cosmetics and registered goods. NPRA assists other drug regulatory organizations in the western Pacific region by offering training and consultations on pharmaceutical regulatory issues through its position as a WHO Collaborating Centre for Regulatory Control of Pharmaceuticals since 1996.
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 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
By Type (Revenue, USD Billion):
By Application (Revenue, USD Billion):
By Drug (Revenue, USD Billion):
By Route of Administration (Revenue, USD Billion):
By Distribution Channel (Revenue, USD Billion):
Methodology for Database Creation
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1. Secondary Research
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Duopharma Biotech, Iniqra Pharma, and AstraZeneca are the major players in the Malaysia diabetes therapeutics market.
The Malaysia diabetes therapeutics market is expected to grow from $231 Mn in 2022 to $492 Mn in 2030 with a CAGR of 9.9% for the forecasted year 2022-2030.
The Malaysia diabetes therapeutics market is segmented by type, application, drug, route of administration, and distribution channel.