Malaysia Electronic Health Records Market Report 2022 to 2030

Malaysia Electronic Health Records Market Analysis

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Malaysia's Electronic Health Records (EHR) market size was valued at $xx Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of xx% from 2022 to 2030 and will reach $XX Bn in 2030. The market is segmented by product, application, and end user. The Malaysia EHR market will grow due to government initiatives to promote the adoption of EHRs. The key market players are Epic Systems Allscripts, McKesson, and others.

ID: IN10MYDH008 CATEGORY: Digital Health GEOGRAPHY: Malaysia AUTHOR: Chandani Patel

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Malaysia Electronic Health Records (EHR) Market Executive Summary

Malaysia's Electronic Health Records (EHR) market size was valued at $xx Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of xx% from 2022 to 2030 and will reach $XX Bn in 2030. According to the World Bank, healthcare expenditure as a percentage of GDP in Malaysia is around 4.5%. The Malaysian government has been investing in healthcare and digital health to improve healthcare accessibility and quality. In terms of digital health spending, the Malaysian government has been investing in the development and implementation of digital health solutions in order to improve the quality and efficiency of healthcare services. According to a report by Frost & Sullivan, digital health spending in Malaysia is expected to reach $35 Mn in 2022.

The Malaysian government has been focusing on implementing digital health solutions such as telemedicine, electronic health records (EHRs), and health information exchange (HIE) systems to improve the accessibility, affordability, and quality of healthcare services. The government has been working to establish a nationwide EHR system, and make EHRs available to all secondary care providers to improve the coordination and continuity of care for patients.

EHR systems are known to enable excellent care, use fewer medical resources, and enhance clinical judgment. However, the system's implementation could have a negative impact on clinical staff members' job performance in the absence of a systematic evaluation. The use of clinical care IS was discovered to conflict with doctors' work environments, workflows, and task complexity in Malaysian tertiary referral facilities. Due to the systems' awkward interface and features, which have led to numerous data entry errors and medication problems, the doctors seemed reluctant to use them. Hospitals and clinics in now largely adopting EHR, hence the demand for the EHR market is rising in Malaysia.

Market Dynamics

Market Growth Drivers

Numerous initiatives have been launched by the Malaysian government to promote the use of EHRs in the healthcare sector. This entails creating a nationwide health information network that makes use of EHRs to raise the standard and efficacy of healthcare delivery.

EHR use can also enhance the delivery of healthcare, which is important given the rise in chronic diseases including diabetes, heart disease, and cancer. The market is also growing as a result of the ongoing developments in medical technology, which are simplifying and lowering the cost of EHR adoption.

The demand for EHRs is also rising as more healthcare professionals and patients become aware of the advantages of EHRs, including better patient care, more effective healthcare delivery, and better population health management. There is an increasing demand for secure and dependable EHR systems to safeguard this sensitive information due to the growth in the volume of patient data being stored electronically.

Market Restraints

The lack of standardization and interoperability among various systems, which can make it challenging for healthcare professionals to share patient information and coordinate care, is one of the biggest challenges facing Malaysia's EHR sector.

The significant cost of implementation and maintenance: Smaller clinics and hospitals may find it difficult to afford the high costs associated with establishing and maintaining EHR systems. Furthermore, if healthcare professionals are unfamiliar with EHRs and the advantages they might offer, they can be reluctant to accept new technology. EHRs raise issues of data privacy and security much like any other technology that handles and saves private patient data.

A lack of qualified employees to handle and maintain EHRs can also be a limitation, which can slow down the adoption and implementation process. Additionally, certain rural locations may have poor IT infrastructure.

Competitive Landscape

Key Players

Epic Systems
Allscripts
McKesson
Meditech
GE Healthcare

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

The Personal Data Protection Act 2010 (PDPA) is a law that sets out how personal information must be handled by organizations, including healthcare providers. The PDPA regulates the collection, use, and disclosure of personal data and provides individuals with the right to access and correct their personal data.

The Medical Device Act 2012 regulates the registration, distribution, and sale of medical devices, including EHR systems. The act is intended to ensure the safety, quality, and performance of medical devices in Malaysia.

The Ministry of Health (MOH) is responsible for the regulation of healthcare providers that use EHR systems, ensuring that they are compliant with the regulations and standards as per the PDPA and Medical Device Act 2012. The MOH also implements the National Electronic Health Record (NEHR) system, which aims to establish a nationwide EHR system. As part of the plan, the MOH is working to ensure that EHR systems are interoperable and that healthcare providers have the necessary skills and resources to use them effectively.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy 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 Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Electronic Health Records Market Segmentation

By Product (Revenue, USD Billion):

Web-based and cloud-based software is more affordable since it saves on additional costs like license fees, regular upgrades, and device upkeep. Additionally, it reduces the need for IT workers because SaaS providers help with software installation, configuration, testing, operation, and upgrades. The cost-effectiveness of cloud-based EHR systems in small healthcare organizations will therefore fuel developments as well as the expansion of the category. MHealth services

Web/Cloud-based EHR software
On-premise EHR software

By Application Type (Revenue, USD Billion):

Large amounts of patient health data may be stored and processed by EHRs, which aids doctors in automating both financial and operational operations with rapid and simple access. Therefore, integrated EHR and practice management software navigates all tasks, making it easier for front-line healthcare providers to do their jobs, and will therefore drive the segment's revenue during the anticipated time period.

E-prescription
Practice management
Referral management
Patient management
Population health management

By End User (Revenue, USD Billion):

By 2027, the category of ambulatory surgical centres is expected to rise at a 7.1% annual rate. The acceptance of EHR in these facilities will be fueled by ambulatory surgical centres' growing preference for digital technologies to efficiently manage workflow. These are outpatient facilities offering planned surgeries and same-day surgical services.

Hospitals
Specialty centers
Clinics
Ambulatory surgical centers
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.