Malaysia generates RM588 million in healthcare travel revenue

KUALA LUMPUR: Malaysia generated RM588.6 million in healthcare travel revenue between January and Sept 2015, at an average response rate of 79%, with the target for the full year set at RM854 million.
According to the National Transformation Programme (NTP) Annual Report 2015, the health tourist revenue for the three quarters reached RM353.2 million of the full year target of RM516 million.
"Year-to-date results forecast total healthcare travel numbers for 2015 to achieve above 90% of full year targets," the report said.
The report also stated that while the local healthcare industry has long been dominated by the public sector, growth in private healthcare services has been exponential over the past decade.
Currently, there are over 250 private hospitals in Malaysia.
The report also mentioned that Malaysia healthcare's strongest markets are Indonesia, consisting 62% of total healthcare revenue numbers, followed by the Middle East (7.4%), India (3%), China (2.6%), Japan (2.6%) and Australia, New Zealand and United Kingdom (2.5%).
"Emerging markets such as China, Central Asia and the greater ASEAN region will continue to be active contributors to our healthcare sector," the report said.
In addition to Malaysia's medical excellence in cardiology, orthopaedics, oncology, neurology and dentistry, there have been growing demands for its superiority in infertility treatment.
It was due to Malaysia's leading fertility hospital reporting In Vitro Fertilization (IVF) success rates of 66% in 2013 against the global average of 50%, alongside increasing demands for treatments in cosmetic surgery and rehabilitation.
Moving forward, the report mentioned that emphasis will be given to developing the Senior Living Industry.
It also said that the Private Aged Healthcare Facilities and Services Bill is targeted to be tabled in Parliament in the second quarter of 2016. — Bernama