Malaysia pharmaceuticals
market is anticipated to grow significantly during the projected period of 2028. Pharmaceuticals are
gaining increasing popularity in Malaysia with rising prevalence of chronic
diseases and increasing awareness among the population. With a well-developed
healthcare system and increasing government focus on healthcare infrastructure
and services, the pharmaceuticals market in Malaysia has been witnessing
significant growth in recent years. Malaysia has been increasing its healthcare
expenditure to provide better healthcare services to its growing population.
The government has been investing in the development of healthcare
infrastructure, including hospitals, clinics, and research centers, to improve
the quality and accessibility of healthcare services. This has led to an
increased demand for pharmaceutical products, including prescription drugs, over
the counter (OTC) drugs, and other healthcare products. Malaysia is
experiencing a demographic shift with an aging population. As the population ages,
there is an increased prevalence of chronic diseases, such as diabetes,
hypertension, and cardiovascular diseases, which require long-term medication.
This has resulted in a higher demand for pharmaceutical products to manage
these chronic diseases, thereby driving the growth of the Malaysia
pharmaceuticals market.
In addition, there is a growing awareness among
Malaysians about the importance of health and wellness. Malaysians are
increasingly adopting healthier lifestyles, which include regular exercise,
balanced diet, and preventive healthcare measures. This has led to an increased
demand for healthcare products, including vitamins, supplements, and other OTC
drugs, to maintain overall well-being, and has contributed to the growth of the
Malaysia pharmaceuticals market. The digital revolution has transformed various
industries, including the pharmaceuticals sector in Malaysia. E-commerce
platforms have gained popularity, providing consumers with convenient access to
pharmaceutical products through online pharmacies and healthcare portals.
Malaysians are increasingly purchasing pharmaceutical products online, which
has led to the growth of e-commerce in the Malaysia pharmaceuticals market.
Digitalization has also enabled pharmaceutical companies to streamline their
supply chain and distribution processes, leading to increased efficiency and
cost savings. As per the International Trade Administration (ITA), the
number of active internet users in Malaysia rose from 27.4 million to 80% by
2021 and mobile phone penetration was high at 84.2%. In Malaysia, there were 28
million active users on social media and 39.9 million cellular connections in
January 2021.
Growing focus on healthcare by government organization
The pharmaceutical industry plays a crucial role in the
healthcare sector, providing essential medications and therapies to improve
public health outcomes. In Malaysia, the government recognizes the importance
of a robust pharmaceutical industry and has been actively investing in this
sector to support its growth and development. Over the years, there has been a
significant increase in investment by government organizations in the
pharmaceuticals sector in Malaysia, aiming to enhance the country's healthcare
capabilities, stimulate economic growth, and promote innovation. Growing
innovation from both major and small market participants is accelerating the
market's expansion on a global scale. According to Ministry of Health
Malaysia, as of December 31, 2020, there were total 202 licensed hospitals with
total bed strength of 17,155. One of the key government organizations
driving investment in the pharmaceuticals sector is the Ministry of Health
(MOH) of Malaysia. The MOH has been actively investing in various initiatives
to strengthen the local pharmaceutical industry, with a focus on research and
development (R&D), manufacturing, and capacity building. One notable
initiative is the establishment of the National Pharmaceutical Regulatory
Agency (NPRA) in 2019, which serves as the regulatory authority for
pharmaceuticals and medical devices in Malaysia. The NPRA plays a pivotal role
in ensuring that the pharmaceutical industry adheres to high-quality standards,
promotes innovation, and safeguards public health. The government has allocated
significant funds to support the NPRA in its efforts to streamline regulatory
processes, enhance product registration, and expedite market access for
innovative pharmaceuticals, thereby augmenting the growth of the Malaysia pharmaceuticals
market. Another notable government organization that has been driving
investment in the pharmaceuticals sector is the Malaysian Industry-Government
Group for High Technology (MIGHT). MIGHT, a strategic partnership between the
government and industry, has been actively promoting the development of
high-technology industries, including pharmaceuticals. MIGHT has been involved
in various initiatives to develop the local pharmaceutical ecosystem, such as
the establishment of the Malaysian Bioeconomy Development Corporation
(Bioeconomy Corporation) and the BiotechCorp, which aim to support R&D,
commercialization of biotechnology products, and promote investments in the
pharmaceutical and biotechnology sectors. Such factors are expected to drive
the growth of the Malaysia pharmaceuticals market during the forecast period. According
to WHO, currently, it is anticipated that healthcare will account for
around 7.25% of the nation's GDP. This is anticipated to rise as a result of
population growth, an increase in life expectancy, and rising government
spending on better healthcare infrastructure and services.
Rising Prevalence of Chronic Diseases
Malaysia is experiencing
an alarming increase in the prevalence of chronic diseases, which is posing a
significant burden on its healthcare system and economy. Several factors have contributed to the rising prevalence
of chronic diseases in Malaysia. One of the major factors is the changing
lifestyle of Malaysians. As the country has progressed economically and
witnessed urbanization, there has been a shift toward sedentary lifestyles,
unhealthy eating habits, and a decrease in physical activity. This has led to
an increase in the prevalence of risk factors such as obesity, high blood
pressure, high cholesterol, and diabetes, which are major risk factors for
chronic diseases leading to the growth of the Malaysia pharmaceuticals market. Obesity, in particular,
has become a major health concern in Malaysia. According to the National
Health and Morbidity Survey (NHMS) 2019, the prevalence of overweight and
obesity among adults in Malaysia has been on the rise, with 30.0% of adults
being overweight and 17.5% being obese. This is mainly attributed to
changes in dietary patterns, with increased consumption of high-calorie,
low-nutrient foods, and a decrease in physical activity levels due to sedentary
lifestyles, thereby augmenting the growth of the Malaysia pharmaceuticals
market. Furthermore,
genetic predisposition and family history of chronic diseases play a role in
the increasing prevalence of these conditions in Malaysia. There are certain
genetic factors that can increase the risk of developing chronic diseases such
as diabetes, hypertension, and hypercholesterolemia, and these conditions may
run in families. With the intermingling of various ethnic groups in Malaysia,
there may be a combination of genetic factors that contribute to the higher
prevalence of chronic diseases in certain populations, augmenting the growth of
the Malaysia pharmaceuticals market. According to Ministry of Health
Malaysia, hospital admission increases from 2,687,181 in 2019 to 2,284,303 in
2020 and admissions in special medical institutions increase from 72,352 in
2019 to 102,515 in 2020.
Recent Development
- In April 2023, Amway
(Malaysia) Holdings Berhad (AMWAY Malaysia) launched the Gut Reset-Weight
Management educational and awareness nationwide campaign to strengthen further its
efforts to address non-communicable diseases (NCDs). For the financial year
ended December 31, 2022, AMWAY Malaysia set a new revenue record of RM1,514.8
million which was up 1.9% compared to what it had achieved in the previous
fiscal year. The strong demand for products in the areas of health and
wellness, as well as personal care under the lead with nutrition program has
led to an increase in sales.
- In April 2023, Novartis started 2023 with great growth and to increase
productivity, the organization would give "high value" drugs a
priority across five core categories, including cardiovascular and neurology.
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Market Segmentation
The Malaysia pharmaceuticals
market is segmented into type, drug classification, mode of purchase, distribution
channel, and company. Based on type, the Malaysia pharmaceutical market is
divided into pharmaceutical drugs and biologics. Based on drug classification,
the Malaysia pharmaceutical market is categorized into branded drugs and
generic drugs. Based on mode of purchase, the Malaysia pharmaceutical market is
categorized into prescription-based drugs and over-the-counter drugs. Based on distribution
channel, the Malaysia pharmaceutical market is categorized into hospital
pharmacies, retail pharmacies, and online pharmacies. Based on region, the Malaysia
pharmaceutical market is segmented into East Malaysia and West Malaysia.
Company Profiles
Abbvie, Inc., Astrazeneca Plc, Bristol
Myers Squibb Co., GSK plc, Johnson & Johnson, Merck & Co, Novartis Ag, Pfizer
Inc., Roche Holding Ag, and Sanofiare some of the key players of the Malaysia pharmaceuticals
market.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 – 2021
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative Units
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Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
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Report coverage
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Revenue forecast,
volume forecasting, Company shares, competitive landscape, growth factors,
and trends
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Segments covered
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Type
Drug Classification
Mode of Purchase
Distribution Channel
Region
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Country scope
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East Malaysia,
West Malaysia
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Key companies profiled
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Abbvie,
Inc., Astrazeneca Plc, Bristol Myers Squibb Co., GSK plc, Johnson & Johnson,
Merck & Co, Novartis Ag, Pfizer Inc., Roche Holding Ag, and Sanofi.
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Customization scope
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10% free report customization with purchase. Addition
or alteration to country, regional & segment scope.
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Pricing and purchase
options
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Avail customized
purchase options to meet your exact research needs.
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Delivery Format
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PDF
and Excel through Email (We can also provide the editable version of the report
in PPT/Word format on special request)
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Report Scope:
In this report, the Malaysia pharmaceuticals market has
been segmented into the following categories, in addition to the industry trends,
which have also been detailed below:
- Malaysia Pharmaceuticals
Market, By Type:
- Pharmaceutical
Drugs
- Biologics
- Malaysia Pharmaceuticals Market, By Form:
- Tablets
- Capsules
- Powder
- Liquids
- Soft Gels
- Malaysia Pharmaceuticals
Market, By Drug Classification:
- Branded Drugs
- Generic Drugs
- Malaysia Pharmaceuticals
Market, By Mode of Purchase:
- Prescription-Based
Drugs
- Over-the-counter
Drugs
- Malaysia Pharmaceuticals Market, By End
User:
- Hospital
Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Malaysia Pharmaceuticals
Market, By Region:
- East Malaysia
- West Malaysia
Competitive landscape
Company Profiles: Detailed analysis of the major companies in the Malaysia
pharmaceuticals market.
Available Customizations:
With the given market data, TechSci Research offers customizations
according to a company’s specific needs. The following customization options are
available for the report:
Company
Information
- Detailed analysis
and profiling of additional market players (up to five).
Malaysia Pharmaceuticals Market
is an upcoming report to be released soon. If you wish an early delivery of
this report or want to confirm the date of release, please contact us at [email protected]