DUBLIN--(BUSINESS WIRE)--The "Malaysia Diagnostic Labs Market, By Provider Type, By Test Type, By End User, By Region, Competition, Forecast & Opportunities, 2017-2027F" report has been added to ResearchAndMarkets.com's offering.
Malaysia diagnostic labs market stood at USD 1011.24 Million in 2021 and is expected to reach a CAGR of 7.89% during the forecast period. The rise in non-communicable diseases is increasing the demand for regular check-ups and multiple tests. In Malaysia, the prevalence of non-communicable diseases (NCDs) has increased during the last two decades.
According to Novartis Malaysia, non-communicable diseases are responsible for 74% of all fatalities in Malaysia. In addition to the contagious COVID-19 virus, people with non-communicable diseases are more likely to experience additional consequences that can dramatically deteriorate their health. Initiated by Novartis Malaysia, the "NCDs in the New Normal" workshop aims to actively educate patients, caregivers, and the public to manage their health.
Use of Digital Pathology to Augment Pathological Diagnosis
Digital pathology boosts productivity and efficiency, which helps pathologists to assess and cooperate quickly, remotely, transparently, and consistently. In the long run, computer-assisted diagnosis (CAD) and personalized care may all be a future of digital pathology. Pathologists can specialize in big data software, which extracts information from many data sets at once.
This software can easily manage data for teaching and training and enables the expansion of practices to more geographically diverse areas. As a result of the development of digital pathology, pathologists can now operate remotely and collaborate with other professionals when a second opinion is required because digital pictures are saved on secure servers and can be viewed on computer monitors. Using digital pathology speeds up productivity and allows quicker diagnosis.
Growth in Medical Tourism
Malaysia is now considered one of Asia's most perceived emerging nations for medical tourism. Patients worldwide are running to Malaysia for great medical care administration. Malaysia has many bests in-class private physicians focusing on the different scopes of cutting-edge symptomatic, remedial, and in-patient administrations. Individuals are selecting Malaysia for medical assistance and treatment administrations.
The government of Malaysia has allowed tax cuts, a change in tax law that works by reducing the amount of tax a person pays, hence advancing the growth of the clinical and travel industry in medical tourism. Medical care in Malaysia is under the Ministry of Health (MOH) domain. Malaysia has become one of the best options for unfamiliar patients looking for all medical services abroad.
Demand of Genetic Testing
Expanding interest in genetic testing also drives the market. Genetic testing helps patients make significant choices in the treatment or early discovery of genetic problems. The high occurrence rate of irresistible illnesses in Malaysia, as well as developing attention to the significance of early diagnosis and accuracy in test analysis, is expanding the patients' visits to diagnostic laboratories for testing.
Government Initiatives for Investment in Healthcare Sector
Malaysia's government plans to advance market development by investing in multiple sectors like developing drug and diagnostic tools, clinical research facilities, and diagnostic laboratories. A-Bio has contributed a whooping amount of USD1.8 million to Clinipath Malaysia Sdn. Bhd. (Clinipath) to catalyze the digitalization of the medical care industry in Malaysia. Malaysia has a strategy of all-inclusive wellbeing inclusion. The public authority/government plans to give sponsored medical care at minimum charges. The sponsored plans are looked after and managed by the Ministry of Health (MOH) through its government, state, and local offices. General health check-ups conducted by the government of Malaysia are on the rise, presenting a possible chance of market growth.
Market Segmentation
Malaysia Diagnostic Labs Market, By Provider Type:
- Hospital Based Diagnostic Labs
- Diagnostic Chains
- Stand Alone Diagnostic Labs
Malaysia Diagnostic Labs Market, By Test Type:
- Pathology
- Radiology
Malaysia Diagnostic Labs Market, By End User:
- Referrals
- Walk-ins
- Corporate Clients
Malaysia Diagnostic Labs Market, By Region:
- West Malaysia
- East Malaysia
Key Topics Covered:
1. Service Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Malaysia Diagnostic Labs Market
5. Voice of Customer
6. Malaysia Diagnostic Labs Market Outlook
7. Malaysia Hospital Based Diagnostic Labs Market Outlook
8. Malaysia Diagnostic Chains Market Outlook
9. Malaysia Stand Alone Diagnostic Labs Market Outlook
10. Market Dynamics
11. Market Trends & Developments
12. Policy & Regulatory Landscape
13. Malaysia Economic Profile
14. Digitalization Across Laboratories in Malaysia
15. List of Diagnostic Labs in Malaysia, By Region
16. Pricing Analysis of Common Tests Offered By Top 5 Companies
17. Competitive Landscape
18. Strategic Recommendations
Companies Mentioned
- Pantai Premier Pathology Sdn Bhd
- Sunway Medical Centre
- Lablink (M) Sdn Bhd
- Pathology & Clinical Laboratory (M) Sdn. Bhd.
- Quantum Diagnostics Sdn Bhd
- B.P. Clinical Lab Sdn. Bhd. (BP Lab)
- Innoquest Pathology Sdn. Bhd
- Clinipath (M) Sdn. Bhd
- Neogenix Laboratories Sdn Bhd
- Sysmex (M) Sdn Bhd
For more information about this report visit https://www.researchandmarkets.com/r/2aj25u
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