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.
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.
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)
188.8.131.52 Product Applications and Services
184.108.40.206 Recent Developments
220.127.116.11 Partnerships Ecosystem
18.104.22.168 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):
Insights10 will provide you with the reports within 10 key parameters which are:
Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.
Stage I: Market Data Collection
Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.
Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.
Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:
Stage II: Market Data Analysis and Statistical Model
Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.
Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.
The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.
The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.
Data Triangulation & Validation:
Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.
We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.
Stage III: Interpretation and Presentation
Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)
Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to oﬀer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.
Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.
We value your inquiry and offer free customization with every report to fulfil your exact research needs.
This report addresses