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The Growing Focus on Access to Care and Improved Patient Outcomes will Drive Market Growth
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Healthcare expenditure in Malaysia is growing at a higher rate than the expenditure per capita, which translates into better healthcare provision and quality of service in the country.The Malaysian endoscopy devices market is growing under budget constraints that are forcing hospitals to focus on equipment pricing, negotiate better prices, opt for group purchasing, and change utilization patterns. The market is driven by the improving socio-economic situation and the improving health services, especially primary healthcare.The uptake of new and advanced minimally invasive surgical systems is restrained by high device costs as well as the slow adoption. The promotion of day surgeries by the government creates opportunities for the minimally invasive surgical market.Public hospitals continue to lead healthcare service provision in the country, which has over twice the number of patient admissions compared to private hospitals. This is mainly due to the low costs as a result of government subsidies for healthcare treatment. Public hospitals only accounted for 41.1% of the total hospitals but supplied 75.5% of the hospital beds, thus housing larger bed volumes.The changing health profile of the Malaysian population continues to assert pressure on the capacity and the specialization of its clinics. Increasing openness toward foreign investment can be seen as a means to offer prompt solutions. Private hospitals are expanding to small cities from tier 1 cities.Chronic diseases account for more than 70% of all deaths and 69% of the total disease burden. Over 40,000 new cases of cancer were diagnosed in 2014.Malaysia is seeing an alarming case of cancer mortality, with higher occurrences among females; thus, minimally invasive surgeries for the treatment of cancer is anticipated to rise. 67.7% of the common procedures conducted by surgeons (general surgeons, urologists and gynaecologists) are performed using endoscopes.In Malaysia, laparoscopic procedures to treat prostate cancer are gaining popularity and are preferred by both surgeons and patients due to the less scarring and the faster recovery time. Private hospitals, which are aggressively trying to attract medical tourists, are adopting high-end technologies to attract more patients to their hospitals.This study focuses on the endoscopy devices market, with a detailed analysis of urology, general surgery, gynecology, and imaging and energy systems. An in-depth overview of devices and procedures using data from both secondary and primary interviews with key industry participants is provided. The forecast period run through to 2019.
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