Malaysia Cardiovascular Devices Market to be Dominated by Coronary Artery Diseases through 2028
A surge in consumption of
unhealthy diet is expected to drive the growth of the Malaysia cardiovascular
devices market in the forecast period.
According to TechSci Research report, “Malaysia
Cardiovascular Devices Market –By Region, Competition, Opportunities and
Forecast, 2028”, the Malaysia cardiovascular devices market is anticipated
to grow at an impressive rate in the forecast period, 2024-2028. This
can be ascribed to the growing demand for the accurate diagnosis of the
disease. In Malaysia, the demand for cardiovascular devices has increased
because of the rise in the burden of cardiovascular illnesses and the
requirement for early diagnosis. The introduction of precise equipment to treat
such diseases and the availability of a wide range of treatment options for
patients have both been made possible by advancements in diagnosis and
treatment options, which have also sparked a better understanding of the
different forms of cardiovascular diseases. The market for cardiovascular
devices is likely to develop because of this trend throughout the forecast
period. Furthermore, electrocardiograms (ECGs) are also increasingly being used
in Malaysia for diagnostic and monitoring purposes, and they are particularly
well-liked in the home healthcare industry. To assist identify and track
disorders affecting the heart, an ECG is frequently used in conjunction with
other testing. Additionally, there are several upcoming wearable ECG
monitoring systems that can wirelessly record ECG and heart rate. The use of
ECG has increased because of a rise in product launches and approvals. During
the forecast period, this trend is also anticipated to persist, fuelling market
expansion.
The cardiovascular devices market in Malaysia has
seen a notable growth over the last few years, but it is not without its
challenges. One of the primary challenges facing the Malaysia
cardiovascular devices market is limited government funding. The government
funding for healthcare is limited, and most of the funds are allocated to
primary healthcare services, leaving little to no funding for the
cardiovascular devices market. This can make it difficult for manufacturers to
introduce new devices into the market, as they may not have access to the
necessary resources to support their product development and marketing efforts.
Another challenge faced by the Malaysia cardiovascular devices market is a lack
of skilled professionals. There are a limited number of healthcare
professionals trained in cardiovascular care, including doctors, nurses, and technicians.
This can create a bottleneck in the healthcare system, as there may not be
enough skilled professionals to meet the demand for cardiovascular care. It can
also make it difficult for manufacturers to find skilled professionals to train
on their products. Finally, the Malaysia cardiovascular devices market is
highly competitive, with many established players already present in the
market. This can make it difficult for new entrants to gain a foothold and
compete effectively. Established players have an advantage in terms of brand
recognition, distribution networks, and customer loyalty, which can make it
challenging for new players to establish a presence in the market.
Malaysia
cardiovascular devices market can be segmented by type, application, end user,
source, and region.
Based on
type, the Malaysia cardiovascular devices market can be segmented
into diagnostic & monitoring devices and surgical devices. The
diagnostic & monitoring devices segment is expected to dominate the market
during the forecast period because diagnostic and monitoring devices, such as
electrocardiograms (ECGs), echocardiograms, and stress tests, can help identify
cardiovascular issues before they become more serious. These devices can also
be used to monitor the progress of treatment and determine if any adjustments
need to be made. In contrast, surgical devices are typically used after a
patient's condition has progressed to the point where surgery is necessary.
While surgical devices can be lifesaving and play a critical role in the
treatment of cardiovascular diseases, they are generally more invasive and
carry more risks.
Based on end user, the Malaysia cardiovascular
devices market can be further divided into hospitals & clinics, diagnostic
centers, and others. The hospitals & clinics segment dominated the market
in 2022 and is expected to maintain its dominance throughout the forecast
period. This can be attributed to the fact that in hospitals and clinics, there
are trained healthcare professionals, including cardiologists, cardiac nurses,
and other specialists, who have the knowledge and skills to use cardiovascular devices
properly. Additionally, these facilities typically have the necessary
infrastructure, such as imaging equipment and operating rooms, to support the
use of these devices.
Major companies operating in
Malaysia cardiovascular devices market are:
- B.
Braun Medical Supplies Sdn Bhd
- Abbott
Medical Malaysia Sdn Bhd
- LivaNova
Malaysia SDN BHD
- Edwards
Lifesciences (M) Sdn Bhd
- GE
Healthcare Sdn Bhd
- BIOTRONIK
Medical Devices (Malaysia) SDN BHD
- Terumo Malaysia Sdn. Bhd.
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“The
cardiovascular devices market in Malaysia is poised for growth in the coming
years, driven by technological advancements and an increasing demand for
minimally invasive procedures. For example, remote patient monitoring is an
emerging trend in the cardiovascular devices market, allowing healthcare
providers to monitor patients outside of a traditional clinical setting. This
technology is particularly useful for patients with chronic conditions, such as
heart failure or arrhythmia, allowing them to receive regular monitoring
without the need for frequent clinic visits. Remote monitoring can also help
identify potential issues early, allowing for timely intervention and
potentially preventing hospitalizations. Moreover, minimally invasive
procedures are becoming increasingly popular in the cardiovascular devices
market, reducing the need for traditional open-heart surgery. These procedures,
such as percutaneous coronary intervention (PCI) and transcatheter aortic valve
replacement (TAVR), involve smaller incisions and shorter recovery times than
traditional surgical approaches. As these procedures become more common, the
demand for minimally invasive devices is expected to grow which is likely to
augment the growth of Malaysia cardiovascular devices market.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Malaysia Cardiovascular Devices
Market Segmented By Type (Diagnostic
& Monitoring Devices, Surgical Devices), By Application (Coronary Artery
Disease, Cardiac Arrhythmia, Heart Failure, Others), By End User (Hospitals
& Clinics, Diagnostic Centers, Others), By Source (Import, Domestic), By
Region, Competition, Forecast and Opportunities, 2028 ” has evaluated the future growth potential of
Malaysia cardiovascular devices 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 cardiovascular devices market.
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