Malaysia Diagnostic Labs Market to reach USD 1643.30 Million by 2027
The growing prevalence of
various communicable and non-communicable diseases is expected to drive the
growth of Malaysia diagnostic labs market.
According to TechSci Research report, “Malaysia Diagnostic Labs Market - By Region, Competition, Forecast &
Opportunities, 2017-2027F”, the Malaysia diagnostic labs market stood at USD1011.24 million in 2021 and
is anticipated to reach USD1643.30 million by 2027. This can be attributed because
of transmission of infectious diseases among population. The emergence of
irresistible diseases has turned into a significant worldwide issue. Malaysia
has many reasons to be considered a focal point for such contaminations.
Lately, a few flare-ups have happened, bringing about loss of lives and
monetary difficulties. The prominent diseases that have occurred in Malaysia
are dengue, malaria, leptospirosis, chikungunya polyarthritis, nipah, encephalitis
and yellow fever. Food and waterborne
illnesses like bacterial diarrhea, vector-borne illnesses like dengue fever,
and water contact illnesses like leptospirosis are a few common examples in
Malaysia. Laboratory diagnosis has played a significant role in diagnosing the
diseases as most require early diagnosis and treatment, neglecting which can be
fatal. Thus, to control mortality and early access to treatment of disease, the
demand for the diagnostic lab will grow in the forecast period.
Browse over 21 market
data Figures spread through 70 Pages and an in-depth TOC on "Malaysia Diagnostic Labs Market"
The Malaysia diagnostic
labs market is segmented into provider type, test type, end-user, region, and
by company. Based on provider type,
the market can be split among hospital based diagnostic labs, diagnostic chains,
and stand-alone diagnostic labs. The hospital based diagnostic labs held the largest
market share of around 58.90% in 2021. This can be attributed to the
comparatively low price of diagnosis that the hospitals provide to the general
population. The easy access to high-cost diagnosis in lower price and on time
appointment apart from scheduled appointment are the factors which is leading
the population preference to opt for diagnostic labs.
Based on the end user,
the market is divided into referrals, walk-ins, corporate clients. The referrals-based
end user dominated the market in 2021 and is anticipated to maintain its
dominance during the forecast period this is because the country follows the
trend of referral-based visits to diagnostic laboratories. Moreover, the rise
in infectious diseases and people choosing preventive health check-ups are on
the rise which is contributing significantly to the growth of Malaysian diagnostic
labs market.
West Malaysia accounted
for the largest market share in the Malaysia diagnostic labs market due to the
high population density and majority of the diagnostic labs are established in
the West region.
The
leading companies operating in the Malaysia diagnostic labs Market are:
- Pantai Premier
Pathology Sdn Bhd
- Sunway Medical
Centre
- Lablink (M) Sdn
Bhd
- Pathology &
Clinical Laboratory (M) Sdn. Bhd.
- Quantum
Diagnostics Sdn Bhd
- B.P. Clinical Lab Sdn. Bhd. (BP Lab)
- Innoquest Pathology
- Clinipath Malaysia Sdn. Bhd.
- Neogenix Laboratoire Sdn Bhd
- Sysmex Malaysia Sdn. Bhd.
Malaysia diagnostic
labs market is a highly fragmented market with few established companies
holding significant share in the industry followed by several stand-alone
diagnostic labs players.
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“Since testing remains a crucial step in
controlling the rapid spread of the disease, government organizations worldwide
are supporting laboratories in streamlining COVID-19 testing procedures. Since
diagnosis remains a vital approach for timely and accurate identification of
underlying disease, Malaysian diagnostic labs market is estimated to grow at a
significant CAGR in the forecast period. Additionally, the technological
improvements and rapid testing during the pandemic has proved a constant boost
in the market in the upcoming years.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Malaysia Diagnostic Labs
Market Provider Type (Hospital Based Diagnostic Labs, Diagnostic Chains, Stand
Alone Diagnostic Labs), By Test Type (Pathology v/s Radiology), By End User
(Referrals, Walk-ins, Corporate Clients), By Region, Competition, Forecast
& Opportunities, 2017-2027F”, has evaluated the future growth potential of Malaysia diagnostic
labs market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Malaysia diagnostic labs
market.
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