Malaysia Inbound Medical Torism Market Overview, 2028

Malaysia Inbound Medical Torism Market Overview, 2028

The history of medical tourism in Malaysia dates back to the late 20th century, with its real surge gaining momentum in the early 2000s. Leveraging its strengths in healthcare, the country embarked on a journey to transform into a healthcare and wellness hub. Today, Malaysia boasts a well-established and continuously evolving medical tourism sector, welcoming patients from neighbouring countries as well as distant shores. The sector's growth is underscored by its impressive infrastructure, accredited healthcare facilities, and commitment to delivering world-class medical care. Malaysia offers a unique blend of exceptional medical services at a fraction of the cost compared to Western countries without compromising on quality. This affordability makes it an attractive proposition for patients seeking value for money. The country is home to a pool of skilled and internationally trained medical professionals, encompassing a wide array of specialties and disciplines. These experts provide a high standard of care, ensuring positive patient outcomes. Malaysia's healthcare institutions are equipped with state-of-the-art technology, cutting-edge equipment, and modern infrastructure that rivals those of their global counterparts. This allows for a comprehensive range of medical treatments and procedures. Malaysia's rich cultural tapestry and warm hospitality offer a unique backdrop for medical tourists. Patients not only receive medical care but also have the opportunity to immerse themselves in the country's vibrant culture, diverse cuisine, and picturesque landscapes. The Malaysian government has actively promoted medical tourism through various initiatives and collaborations with private healthcare providers. This support has played a pivotal role in the sector's growth.

According to the research report ""Malaysia Inbound Medical Tourism Market Overview, 2028,"" published by Bonafide Research, the Malaysia Inbound Medical Tourism Market is expected to grow at a rate of more than USD 3 Billion from 2023 to 2028. Medical tourists can enjoy a rich and diverse cultural experience in Malaysia, exploring its vibrant cities, historic sites, lush landscapes, and indulging in a wide array of cuisines. Malaysia's healthcare facilities are equipped with state-of-the-art technology, including robotic surgery systems, advanced imaging equipment, and telemedicine services. Malaysia's ethnic diversity is reflected in its healthcare system, allowing patients to find medical professionals who understand and respect their cultural preferences. Furthermore, Malaysia offers medical tourists a hassle-free experience with visa policies that facilitate travel for medical purposes. One of the primary drivers of Malaysia's medical tourism industry is its cost-effective healthcare solutions. Medical treatments and procedures in Malaysia are significantly more affordable than in many Western countries, making it an attractive option for patients seeking quality care at a fraction of the cost. Malaysia's healthcare sector adheres to high international standards of quality and safety. Many hospitals and clinics are accredited by reputable organisations such as the Joint Commission International (JCI), ensuring a level of care that meets global benchmarks. The success stories and positive experiences of previous medical tourists contribute to Malaysia's reputation and attract more individuals seeking quality medical care.

Based on the service provider segment, which includes the public and private, the private is leading with the highest market share. Many private hospitals and clinics in Malaysia have established themselves as centres of excellence in specific medical specialties such as cardiology, cosmetic surgery, fertility treatments, and more. This specialisation attracts patients seeking expert care for their specific medical needs. Furthermore, Private healthcare facilities in Malaysia often offer shorter waiting times for appointments, consultations, and procedures compared to public institutions, appealing to patients seeking prompt medical attention. Private providers offer bundled packages that include medical treatments, accommodations, transportation, and even leisure activities, providing a comprehensive and hassle-free experience for medical tourists. There are many private service providers for inbound medical tourism, including Gleneagles Kuala Lumpur, Prince Court Medical Centre, KPJ Healthcare Berhad, and many more.

The Malaysian government has been actively involved in promoting medical tourism through various agencies, initiatives, and collaborations. Here are some key entities and initiatives related to the promotion of medical tourism in Malaysia, The Malaysia Healthcare Travel Council (MHTC) is a government agency established to promote Malaysia as a global destination for healthcare services. It collaborates with various stakeholders, including private healthcare providers, to position Malaysia as a preferred choice for medical tourists. Furthermore, the Ministry of Health (MOH) of Malaysia plays a significant role in regulating and overseeing healthcare services in Malaysia. While its primary focus is on public health, it also contributes to medical tourism through quality control and accreditation standards. Doc2Us is a Malaysian telemedicine startup that offers online consultation services with medical professionals. Such platforms can be beneficial for medical tourists seeking virtual consultations before and after their trips. Another is Treat GO is a platform that connects medical tourists with healthcare providers in Malaysia. It offers a range of medical treatments and services, assisting patients in planning their medical journey.

Based on the treatment segment includes the Cancer Treatment / Oncology, Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Bariatric Treatment, Orthopaedics Treatment / Spine Treatment, Fertility Treatment / IVF Treatments, Organ Transplant, Ophthalmology Treatment, Neurological Treatment, Alternative Treatment and Other. In Malaysia, cardiovascular treatment will lead the market with the highest market size by 2022. Malaysia has renowned cardiologists and cardiovascular surgeons who are internationally trained and experienced in performing complex procedures. The country's medical professionals are known for their expertise in treating various cardiovascular conditions. Many private hospitals in Malaysia hold international accreditations, such as Joint Commission International (JCI) accreditation, which ensures adherence to rigorous safety and quality standards, further instilling confidence in medical tourists. Malaysia's attractive tourist destinations, comfortable climate, and diverse culture provide an ideal environment for medical tourists to recover and relax after cardiovascular procedures.

Considered in this report

• Geography: Malaysia
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Malaysia Inbound Medical Tourism market with its value and forecast along with its segments
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Treatment Type

• Cancer Treatment / Oncology
• Cosmetic Treatment
• Orthopedics Treatment / Spine Treatment
• Cardiovascular Treatment
• Fertility Treatment / IVF Treatments
• Neurological Treatment
• Organ Transplant
• Bariatric Treatment
• Dental Treatment
• Alternative Treatment (Acupuncture, Ayurveda, Homeopathy, Naturopathy, Chinese or Oriental medicine, Chiropractic and osteopathic medicine, Massage, Body movement therapies, Tai chi, Yoga, Dietary supplements, Herbal medicine, Nutrition/diet, Electromagnetic therapy, Reiki, Qigong, Meditation, Biofeedback, Hypnosis, Art, dance, and music, Visualization and guided imagery, etc.)
• Ophthalmology Treatment
• Other Treatments (Dermatological treatments, ENT (Ear, Nose, and Throat) treatments, Allergy and Immunology treatments, Sleep disorder treatments, Mental health and psychological treatments, Urology, diabetology, Proctology, Vascular Surgery, etc.)

By Service Providers

• Private
• Public

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Inbound Medical Tourism industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.