Malaysia Medical Tourism Market: Snapshot
The medical tourism market in Malaysia is forecast to grow at a robust pace between 2016 and 2024. Persistent government activities synergizing the medical tourism industry and lower cost of medical services compared to their counterparts in developed nations are boosting the medical tourism market in Malaysia. Over the course of the forecast period from 2016 to 2024, the market is poised to exhibit an impressive 30.05% CAGR. At this pace, its valuation is expected to increase from US$424.96 mn in 2016 to US$3.5 bn before 2024 ends.
Accelerated pace of gains is on cards due to the increasing influx of medical tourists from MENA and neighboring countries. Besides this, the market will gain from various macro-economic factors such as tax exemptions by government on revenue generated from foreign patients and excellent transport and recuperation facilities. While the regional players will continue exhibiting promising growth, the established players might emerge as major gainers rendering the vendor landscape of Malaysia medical tourism market consolidated.
Other factors such as low language barrier and the presence of sophisticated healthcare infrastructure will continue fuelling opportunities in the medical tourism market of Malaysia.
Request for Sample Copy of Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=20159
Medical Travelers from Indonesia Highest in Number
Country-wise, the influx of medical tourists from the neighboring country Indonesia is recorded at the highest. In addition, the nation welcomes an increasing number of medical travelers from India, China, Nepal, Iran, Libya, Australia, the U.S., and the U.K. The healthcare industry in Malaysia has been identified as one of the 12 national key economic areas hence, the nation’s government keep no stone unturned to attract an increasing number of foreign patients every year. For instance, it offers lucrative incentives and tax exemptions on revenue generated from medical travelers. Besides this, the government of Malaysia has developed the Malaysia healthcare travel council (MHTC) within its healthcare ministry to support foreign patients and their families visiting Malaysia in every way possible.
In order to woo patients from the Middle-east the country maintains favorable stance on the Halal medical tourism. Hence several hospitals in the nation offer halal medical services to patients from the Middle East country. Under these services, the hospitals provide a full range of Muslim friendly services to their patients. Medical tourism assistance centers are also set up in places to help patients and their families traveling from the Middle East or other nations with Islam dominance.
Request Report Brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=20159
Demand for Dental Treatment Recorded the Highest
Among the segments based on procedure type, the Malaysia medial tourism market was dominated by dental treatment in 2016. The aesthetics/cosmetic surgery segment trailed closely emerging as the second-leading market segment in the same year. According to TMR, approximately 36.6% of the medical tourists visiting Malaysia opt for dental treatment. Factors such as the low cost of services compared to those offered in the U.S. and favorable government activities are expected to aid growth witnessed in the aforementioned categories. Besides this, the market is forecast to witness rising demand for orthopedic treatment, cosmetic surgeries, and regular health screening. These segments, coupled with the field of dental treatment, occupied over 70% of the overall medical tourism market in Malaysia.
Some of the key enterprises operating in the Malaysia medical tourism market are Pantai Holdings Berhad, KPJ Healthcare Berhad, Dentalpro Group, Prince Court Medical Centre, Island Hospital, IJN Health Institute, Mahkota Medical Centre, Sunway Medical Centre, LohGuanLye Specialists Centre, and Tropicana Medical Centre.
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA – Canada Toll Free: 866-552-3453