The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: We maintain a positive outlook for Malaysia's pharmaceutical and healthcare market. The
evolution of the country's medical tourism sector will see the agglomeration of private healthcare providers
along key geographic hubs. Government efforts to develop Johor, Melaka and Penang into key centres will
perpetuate this trend. This will be supported by private healthcare providers, the majority of whom have
articulated their aim of leveraging the growth of medical tourism. The establishment of these places as hubs
will shape the sales force strategies for multinational drugmakers as international patients represent a
segment that has, on average, spent more than locals on healthcare.
Headline Expenditure Projections
? Pharmaceuticals: MYR7.88bn (USD2.02bn) in 2015 to MYR8.58bn (USD2.09bn) in 2016; +8.9% in
local currency and +3.8% in US dollar terms. Forecast unchanged from last quarter.
? Healthcare: MYR49.31bn (USD12.63bn) in 2015 to MYR54.40bn (USD13.27bn) in 2016; +10.3% in
local currency and +5.1% in US dollar terms. Forecast unchanged from last quarter.