Analysis of Medical Tourism Industry in Malaysia
Study on Medical Tourism in Malaysia by Cardiovascular, Oncology, Fertility, Orthopedic, Dental, Ophthalmology, Aesthetics/Cosmetics, Neurology, Regenerative, and Medical Check-ups from 2024 to 2034
Analysis of Medical Tourism Industry Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Medical Tourism Revenue Analysis for Malaysia (2024 to 2034)
Revenue from the medical tourism market in Malaysia has been evaluated at US$ 1.92 billion in 2024. The Malaysian market has been projected to register a CAGR of 14.6% and reach a value of US$ 7.54 billion by 2034.
Medical tourists from all over the world are flocking to Malaysia to take advantage of its low-cost, high-quality healthcare services. Malaysia is eyeing on generating income opportunities from medical tourism due to the increasing preference of patients for cosmetic surgeries from this country. Malaysia has a large number of state-of-the-art private medical centers with a diverse range of advanced diagnostic, therapeutic, and in-patient services.
Exceptional macro elements such as adequate recuperation facilities, transportation, and government support for medical tourism are significant drivers of the medical tourism market growth in Malaysia. The government is granting tax benefits on money produced by overseas patients to promote medical tourism.
Government agencies are concentrating their efforts on the healthcare industry, enacting favorable rules and encouraging public and private investments in the improvement of healthcare facilities. Companies are attempting to form partnerships with various government organizations to take advantage of these opportunities and enhance the flow of medical wellness services.
Medical practitioners are focusing on mission-critical apps in the dental, neurology, and cardiovascular departments to generate continuous financial flow. Before investing in IT-dependent medical devices, Med-tech businesses do data-driven research. Continuous efforts are being made to enhance teleconsulting/telemedicine systems for follow-up treatments.
| Report Attributes | Details |
|---|---|
| Medical Tourism Revenue in Malaysia (2024E) | US$ 1.92 Billion |
| Forecasted Sales (2034F) | US$ 7.54 Billion |
| Demand Growth (2024 to 2034) | 14.6% CAGR |
| Orthopedic Treatment Sales (2024E) | US$ 445.9 Million |
| Wellness Service Demand Growth (2024 to 2034) | 13.4% CAGR |
| Key Companies Profiled |
|
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Why is Medical Tourism So Popular in Malaysia?
“Presence of Advanced Technologies and Medical Professionals”
Medical tourism in Malaysia is projected to be driven by the availability of cutting-edge technologies and medical equipment, and high-skilled medical professionals. In comparison to other countries, the clearance process for medical devices in the country is substantially faster. Medical tourism in Malaysia is expected to grow due to the efficient healthcare system, high government healthcare spending, and affordable medical treatment costs. Furthermore, a stable political climate and the availability of foreign payment procedures encourage medical patients to seek treatment in Malaysia.
“Medical Visits Set to Rise in Malaysia Over Coming Decade”
For millions of medical tourists searching for excellent and economical cosmetic surgeries, dental treatment, elective orthopedic treatment, and bariatric surgeries, Singapore, Thailand, Malaysia, India, and South Korea are becoming favourite healthcare destinations.
The number of medical tourists visiting Malaysia is growing year after year, due to factors such as good healthcare infrastructure, competitive and modern medical facilities, government backing through promotional programs, and highly competent medical staff.
- According to Statista report 2022, around 850 thousand patients visited Malaysia for healthcare and medical purposes.
Wellness tourism in Malaysia is primarily sourced from Indonesia. Cardiology and orthopedics have been encouraged by medical institutes in high-demand locations such as Malaysia, Indonesia and the Gulf states.
What May Lower Medical Visits to Malaysia?
“Technical Difficulties in Medical Devices and Lack of Appropriate Follow-up Care”
Most medical devices, including both traditional and smart alternatives, are IT-dependent hardware and software systems that run on electricity. Hardware failure or software problems could compromise the device's overall performance, putting healthcare operations at risk.
One of the key challenges limiting the industry’s expansion is the lack of appropriate follow-up care. After having medical care overseas, many have trouble receiving follow-up treatment in their native country. Management of postoperative problems that emerge after returning to their home country is one of the key issues that patients face. Furthermore, home healthcare providers are sometimes hesitant to take on difficult cases, particularly those handled by unknown doctors in other medical tourism locations. These factors are expected to hamper the Malaysia medical tourism market growth.
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Category-wise Analysis
Presence of effective treatment facilities and cost-effective treatment plans are driving attention of patients to Malaysia. Malaysia is advancing in the field of cancer treatment. Continuous R&D activities are benefitting market growth.
Which Procedure Type Accounts for Bulk of Medical Tourism in Malaysia?
“Malaysia Emerging as Beacon of Hope for Oncology Patients”
| Attribute | Oncology |
|---|---|
| Segment Value (2024E) | US$ 489.2 Million |
| Growth Rate (2024 to 2034) | 16.5% CAGR |
| Projected Value (2034F) | US$ 2.24 Billion |
Malaysia is expected to emerge as an effective market for cancer treatment. The country is witnessing a rise in medical tourism for oncology treatment.
- As per the report by Malaysia Healthcare Travel Council (MHTC), around 1.3 million patient visited Malaysia for healthcare purposes, out which most of them were seeking cancer treatment in 2023.
This data underscores that Malaysia is emerging as a medical destination for cancer treatment.
Malaysia, along with its cutting-edge healthcare infrastructure, offers cost-effective treatment plans. The treatment of cancer is more affordable compared to that in other countries. Without any financial burden a patient can get sophisticated treatment and care in the country.
Which Demographic is Major Contributor to Market Growth?
“Men Account for Higher Medical Tourism Visits to Malaysia”
| Attribute | Men |
|---|---|
| Segment Value (2024E) | US$ 1.18 Billion |
| Growth Rate (2024–2034) | 14.8% CAGR |
| Projected Value (2034F) | US$ 4.70 Billion |
According to Fact.MR, a market research and competitive intelligence provider, the male demographic is estimated to hold 61.7% of the Malaysian market share in 2024.
The affordable treatment plans and presence of advanced medical facilities are driving attention of male patients to Malaysia. Middle East, Europe, and Japan are some of the major regions from which medical tourists visit Malaysia for effective treatment.
Competitive Landscape
Med-tech companies in Malaysia are increasing their domestic manufacturing capabilities to lessen their reliance on other countries for raw materials and medical device components or products. They keep optimal inventory levels to ensure a steady supply of life-saving medical technology.
Key market players are focusing on R&D initiatives to provide better troubleshooting for IT-dependent medical technology devices. To implement technological improvements in medical equipment, they are collaborating with experts from Malaysia health care institutions.
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Segmentation of Medical Tourism Study in Malaysia
-
By Procedure Type :
- Cardiovascular Treatment
- Oncology
- Fertility Treatment (IVF)
- Orthopedic Treatment
- Dental Treatment
- Ophthalmology
- Aesthetics/Cosmetic Surgeries
- Neurology
- Regenerative Therapy (Stem Cells)
- Medical Check-ups (Health Screening)
- Others
-
By Service :
- Wellness Services
- Therapeutic Services
-
By Customer Orientation :
- Men
- Women
- Children
Table of Content
1. Executive Summary 1.1. Market Snapshot 1.2. Key Market Trends 1.3. Current Market & Future Potential 1.4. Fact.MR Recommendation 2. Market Overview 2.1. Market Segmentation 2.2. Market Indicators 2.3. Market Definitions 2.4. Market Dynamics 2.4.1. Drivers 2.4.2. Restraints 2.4.3. Opportunities 2.5. Porter’s Five Forces Analysis 2.6. Value Chain Analysis 2.6.1. List of Potential Customers 2.7. Market Analysis and Forecast, 2024-2034 3. COVID-19 Impact on Market 4. Market Outlook, by Region 5. Market Trend Analysis, 2024-2034 5.1. By Region 6. Market Analysis and Forecast, by Procedure Type, 2024-2034 6.1. Introduction & Definitions 6.2. Market Value (Mn) Forecast, by Procedure Type, 2024-2034 6.2.1. Cardio (Internal Medicine) 6.2.2. Cardiothoracic Surgery 6.2.3. Oncology 6.2.4. Fertility Treatments (IVF) 6.2.5. Orthopedic Treatments 6.2.6. Dental Treatments 6.2.7. Ophthalmology 6.2.8. Aesthetics/Cosmetic Surgery 6.2.9. Neurology 6.2.10. Regenerative Therapy (Stem Cells) 6.2.11. Medical Check-ups (Health Screening) 6.2.12. Others 6.3. Market Attractiveness, by Procedure Type 7. Competition Landscape 7.1. Market Share Analysis, by Company (2023) 7.2. Competition Matrix 7.2.1. Procedure Type Mapping 7.3. Company Profiles (Details – Overview, Financials, Recent Developments, and Strategy) 7.3.1. KPJ Healthcare Berhad 7.3.1.1. Headquarters, Year of Establishment, Revenue, Key Management, Number of Employees 7.3.1.2. Company Description 7.3.1.3. Business Overview 7.3.1.4. Financial Overview 7.3.1.5. Strategic Overview 7.3.2. Dentalpro Group 7.3.2.1. Headquarters, Year of Establishment, Revenue, Key Management, Number of Employees 7.3.2.2. Company Description 7.3.2.3. Business Overview 7.3.2.4. Financial Overview 7.3.2.5. Strategic Overview 7.3.3. Prince Court Medical Centre 7.3.3.1. Headquarters, Year of Establishment, Revenue, Key Management, Number of Employees 7.3.3.2. Company Description 7.3.3.3. Business Overview 7.3.3.4. Financial Overview 7.3.3.5. Strategic Overview 7.3.4. Island Hospital 7.3.4.1. Headquarters, Year of Establishment, Revenue, Key Management, Number of Employees 7.3.4.2. Company Description 7.3.4.3. Business Overview 7.3.4.4. Financial Overview 7.3.4.5. Strategic Overview 7.3.5. Mahkota Medical Centre 7.3.5.1. Headquarters, Year of Establishment, Revenue, Key Management, Number of Employees 7.3.5.2. Company Description 7.3.5.3. Business Overview 7.3.5.4. Financial Overview 7.3.5.5. Strategic Overview 7.3.6. Sunway Medical Centre 7.3.6.1. Headquarters, Year of Establishment, Revenue, Key Management, Number of Employees 7.3.6.2. Company Description 7.3.6.3. Business Overview 7.3.6.4. Financial Overview 7.3.6.5. Strategic Overview 7.3.7. LohGuanLye Specialists Centre 7.3.7.1. Headquarters, Year of Establishment, Revenue, Key Management, Number of Employees 7.3.7.2. Company Description 7.3.7.3. Business Overview 7.3.7.4. Financial Overview 7.3.7.5. Strategic Overview 8. Assumptions & Acronyms Used 9. Research Methodology
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List Of Table
Table 01: Malaysia Market Value (Mn) Forecast, by Procedure Type, 2024-2034
Table 02: Malaysia Market Value (Mn) Forecast, by Procedure Type, 2024-2034
Table 03: Malaysia Market Value (Mn) Analysis, 2024-2034
Table 04: Malaysia Market Value (Mn) Analysis, 2024-2034
Table 05: Malaysia Market Value (Mn) Forecast, by Region, 2024-2034
Table 06: Malaysia Market Value (Mn) Forecast, by Region, 2024-2034
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Insights on import/export production,
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List Of Figures
Figure 01: Malaysia Market Price Trend, by Region, 2024-2034 (US$/Ton)
Figure 02: Malaysia Market Value Share, by Procedure Type, 2018, 2024, and 2034
Figure 03: Malaysia Market Attractiveness, by Procedure Type
Figure 04: Malaysia Market Value Share, Analysis, 2018, 2024, and 2034
Figure 05: Malaysia Market Attractiveness, Analysis
Figure 06: Malaysia Market Value Share, by Region, 2018, 2024, and 2034
Figure 07: Malaysia Market Attractiveness, by Region
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
How big is the Malaysian market for medical tourism?
Revenue from medical tourism in Malaysia has been calculated at US$ 1.92 billion for 2024.
What is future of medical tourism in Malaysia?
The market in Malaysia is set to register a CAGR of 14.6% through 2034.
What is the projected revenue from medical tourism in Malaysia?
Revenue from medical tourism in Malaysia is forecasted to reach US$ 7.54 billion by 2034.
For which treatment procedure do most foreign patients visits Malaysia?
Sales from oncology treatment are forecasted to reach US$ 2.24 billion by 2034.
Which type of service is widely popular in the country?
Demand for therapeutic services is foreseen to rise at a CAGR of 15.2% during the next 10 years.
Which demographic mostly visits Malaysia for treatment?
The men’s segment is forecasted to hold 62.4% of the global market share by 2034.
Analysis of Medical Tourism Industry in Malaysia