Malaysia Healthcare Market for Oncology Products
The National Strategic Plan for Cancer Control Program 2021-2025 outlines the Malaysian government’s comprehensive approach to cancer treatment. This plan aims to enhance prevention, screening and early detection, diagnosis, treatment services, and patient support nationwide. Supporting the requirements for Malaysia’s Cancer Control Program presents an opportunity for U.S. companies providing oncology-related pharmaceuticals and medical devices.
According to the Malaysian Cancer Registry, between the years of 2017 and 2021, Malaysia reported 168,822 cancer cases, with breast, colorectal, lung, lymphoma, and liver cancers being the most prevalent. Cancer is the fourth leading cause of death in the country, increasing from 10.5% in 2021 to 12.6% in 2022. A significant factor in this high contribution to mortality is the late-stage detection of the disease, with over 60% of cases diagnosed at stages three and four.
Malaysia offers both a public and private healthcare system. The Malaysian government has been proactive in enhancing the cancer treatment infrastructure in government facilities. The Malaysian Ministry of Health operates nine oncology centers nationwide, including the National Cancer Institute in Putrajaya, Penang Hospital, one government hospital in Johor Bahru, Sarawak General Hospital, and Sabah Women and Children’s Hospital. Plans are underway to expand existing public healthcare facilities and add facilities nationwide to improve patient access and strengthen support care programs.
Private healthcare providers in Malaysia have fostered the nation’s emergence as a prominent destination for medical travel. After dropping from a pre-pandemic high of over 1.3 million annual medical travelers, medical tourism in Malaysia has recovered to more than 1 million annual visitors, many of whom seek cancer treatment. Some private hospitals have gained international recognition, featuring state-of-the-art medical infrastructure and specialized cancer centers with cutting-edge technology. These facilities offer comprehensive cancer treatments, including chemotherapy, radiation therapy, immunotherapy, and surgical interventions tailored to patient needs.
According to the Statista market forecast, the Malaysian oncology drugs market is projected to reach US$292 million by 2024, with an annual growth rate of 14.6% expected through 2028. This surge is driven by increasing early detection and the introduction or expansion of innovative treatments.
To further bolster its global cancer treatment hub position, Malaysia continues to invest in research and development, fostering collaborations with renowned international institutions. These efforts aim to drive innovation, improve treatment protocols, and contribute to the global fight against cancer.
If your U.S. company specializes in oncology-related pharmaceuticals and medical devices and you wish to explore opportunities in the Malaysian market, please contact Commercial Specialist Bethany Tien at office.kualalumpur@trade.gov.