Malaysia Clinical Lab Market Outlook to 2027F

The report provides a comprehensive analysis of the potential of the clinical lab market in Malaysia. The report covers an overview and genesis of the industry, market size on the basis of revenue generated.

Its market segmentation includes labs and ownership, region and by test, patient age, mode of test, by payer; growth enablers and drivers, challenges and bottlenecks, trends driving digital adoption; regulatory framework; industry analysis, competitive landscape including competition scenario, and market shares of major players. The report concludes with future market projections of each segmentation and analyst recommendations.

Market Overview:

According to publisher estimates Malaysia Clinical Lab Market, - which grew at a CAGR of 10.0% in the period of 2017-2022P - is expected to grow at a CAGR of 13.6% in the forecasted period of 2022P-2027F, owing to growing medical infrastructure, and increasing number of hospitals.

Robotics testing, the internet of medical things (IMOT) while leveraging 4G/5G facilities & digital pathology to augment pathological diagnosis are some technological innovations in the market.

Increased adoption of digital pathology has further increased the demand for Clinical Lab services.

Key Trends by Market Segment:

• By Type of Labs: Organized labs captures more than half of the market share. High revenue share of organized players is due to the presence of more independent labs, government labs in the market
• By Mode of Test:Doctor referrals comprise most share as patients prefer going through the channel where doctor consultation is the first step because of little or no knowledge of the possible tests required for symptoms. This is the traditional channel of how the healthcare system has worked for decades and still have a major share in the market, however online referrals are on the rise. Online referrals are popularizing due to online consultation being available at the ease as well as since covid-19, most people avoid going to clinics and hospitals except when emergency

Competitive Landscape

The Malaysia clinical lab market is fragmented with majority independent labs operating in Malaysia. The market share of these independent labs is around 40%. Some of the independent labs operating in Malaysia are Innoquest Pathology, B. P Healthcare, Pathlab etc. The independent players compete with each other on the basis of active locations, no. of tests, best-selling test, USPs etc.

Future Outlook

Market size of Malaysia clinical lab market is expected to grow positively from 2022P to 2027F due to a boost in medical tourism due to advancement of technology in the country and affordability compared to other countries.

People have become conscious about health which has led to increase in routine tests and is expected to increase further thereby boosting the clinical lab market in coming years.

 

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