DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Malaysia" report to their offering.
Malaysia's healthcare market has huge potential for growth. Medical tourism, easy regulatory guidelines, a lack of strict price regulation and an increasing elderly population, as well as the fact that Malaysia is not dependent on imported branded products, will provide the necessary impetus for its growth.
Its value was an estimated $1.2 billion in 2008 and is projected to reach approximately $3.7 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 9.5% (MOPI, 2014). The proportion of Malaysia's population aged 65 or above is expected to increase at a CAGR of 4.2%, from 5.5% in 2013 to 7.0% in 2020 (Department of Statistics, 2013b). Reforms, such as free outpatient registration for the elderly, will impose a financial and logistical burden on the healthcare system but will also act as a driver of growth in the healthcare market.
Medical tourism is another driving factor for Malaysia's pharmaceutical and healthcare industry. Its healthcare tourism market increased by 51% in terms of revenue and 63% in terms of visiting foreign patients, between 2010 and 2012 (MHTC, press release, April 29, 2013). This growth has been supported by government policies, such as tax exemption for hospitals.
Government initiatives that aim at increasing investment in the pharmaceutical industry, such as Entry Point Projects (EPP) and National Key Economic Areas, have so far been successful.
Companies such as Chemical Company of Malaysia Pharmaceuticals, Biocon, Ranbaxy (Malaysia) Sdn Bhd and Kotra Pharma have made either significant investment or strategic agreements in Malaysia as part of the EPP3, which aims at increasing generic manufacturing for exports (ETP, 2013a). The expected patent expiry of drugs such as Abilify (aripiprazole), Celebrex (celecoxib) and Nexium (esomeprazole) will also drive the market.
Key Topics Covered:
1 Tables & Figures
3 Overview of the Pharmaceutical and Medical Device Markets
4 Market Access
5 Country Analysis
6 Opportunities and Challenges
For more information about this report visit http://www.researchandmarkets.com/research/z9qt96/countryfocus.