Malaysia's home healthcare market was valued at $583 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 7.93% from 2022 to 2030 and will reach $1074 Bn in 2030. One of the main reasons propelling the growth of this market is the introduction of newer technologies, and the aging population. The market is segmented by component and product. Some key players in this market are Noble care, Genesis home healthcare, Sunway home healthcare, 24 Angles home care, Care giver Asia, Nurse at home, Cality Care
Malaysia's home healthcare market was valued at $583 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 7.93% from 2022 to 2030 and will reach $1074 Bn in 2030. Malaysia's economy is diversified and export-oriented, with significant contributions from industries such as electronics, petroleum, palm oil, and tourism. It is one of the largest economies in Southeast Asia and has a strong trade relationship with countries such as China, Japan, and the United States. The government has implemented various initiatives to attract foreign investment and drive economic growth.
By 2050, the number of senior citizens in emerging nations is expected to be close to 1 billion, which would increase demand for home healthcare services and, consequently, expand the market's potential. In the upcoming years, the sector for home healthcare services will have enticing growth potential due to the rise in dementia and Alzheimer's disease among the elderly and the rise in population life expectancy. Additionally, government-sponsored institutions, non-profit hospitals, and independent philanthropic organizations have all made substantial contributions to market expansion.
Market Growth Drivers
Ages 60 and older make up an increasing percentage of the global population. Home healthcare services can assist people to receive better care because the senior population has more health issues. As a result, the aging population is contributing to the expansion of home healthcare services.
The prevalence of chronic conditions like diabetes, cardiovascular disease, obesity, cancer, osteoporosis, and dental disease has increased globally. With the appropriate treatment, diet, and nutrition as well as medical guidance, these disorders can be prevented. The necessity to visit a hospital has been eliminated in recent years thanks to home healthcare services, which enable therapy to be received while relaxing at home. As more people throughout the world become aware of them, there will be a greater need for home care services, adult care services, and other services. The old population is rapidly increasing, which is increasing the demand for aged care, and this demand will continue to grow as the market expands.
Market Restraints
Services for home healthcare services are preferred to those for short-term care. Due to their high price, the family finds it challenging to use services and products. As people age, the cost of providing care for the elderly rises. Many home healthcare providers lack access to the most recent medical technology and advancements, which might restrict the breadth of services they can offer. It is projected that the shortage of compassionate nursing staff will restrict the rate of growth of the home healthcare sector in Malaysia. The infrastructure required to deliver home healthcare services, such as suitable transportation and communication networks, is lacking in many areas of Malaysia.
Key Players
1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Device Type (Revenue, USD Billion):
Based on the device type the market is segmented into testing, screening, monitoring devices, therapeutic home healthcare devices, and mobility assist.
By Service Type (Revenue, USD Billion):
By Indication Type (Revenue, USD Billion):
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