Upbeat outlook for medical tourism industry
PETALING JAYA: The medical tourism sector is on track to become a global healthcare powerhouse as it deepens its expansion into wellness-focused services and targets a broader range of international patients.
With long-term ambitions of generating over RM12bil in revenue by 2030, the industry is actively scaling up its capabilities and widening its regional reach, according to analysts.
Following a recent roundtable dialogue hosted with the Malaysia Healthcare Travel Council (MHTC), MBSB Research issued a report affirming its 'positive' view on the industry's outlook, underpinned by strong public-private collaboration and market diversification.
'All in all, we maintain 'positive' on the medical tourism sector,' said the research house.
MBSB Research pointed out that the country's medical tourism sector had evolved into a well-defined and growing ecosystem, coordinated by MHTC, with a clear vision and a multi-agency collaborative approach.
The council, under the purview of the Health Ministry, plays a central role in unifying national efforts to position the country as a top-tier healthcare travel destination.
While MHTC does not regulate healthcare providers or operate medical facilities, it works closely with 82 private healthcare members and various government ministries – including the Economy Ministry, Tourism, Arts and Culture Ministry, and Finance Ministry to create a seamless experience for international patients.
This integrated approach extends from marketing and patient facilitation to economic planning.
'The sector's success is underpinned by a targeted market strategy that actively diversifies by focusing on high-potential regions in Asean, China and the Middle East,' MBSB Research said.
This not only mitigates over-reliance on a single market but also capitalises on Malaysia's strengths, such as shared cultural affinity with regional neighbours, according to the research house.
Since the pandemic subsided, the country has seen a resurgence in demand for specialised treatments ranging from oncology to orthopaedics.
In 2024, Malaysia welcomed 1.52 million medical travellers, generating RM2.72bil in revenue. The figure is expected to rise to RM3bil in 2025, driven by sustained interest in affordable and quality care.
'Malaysia's regulated healthcare environment, international accreditations and competitive pricing provide a significant advantage over regional competitors, establishing 'quality care for your peace of mind' and affordability as its core strengths,' MBSB Research noted.
'The industry is strategically expanding into new healthcare segments, embracing a more holistic model to capture a larger share of the growing global health and wellness market,' the research house added.
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MBSB Research pointed out that the country's medical tourism sector had evolved into a well-defined and growing ecosystem. PETALING JAYA: The medical tourism sector is on track to become a global healthcare powerhouse as it deepens its expansion into wellness-focused services and targets a broader range of international patients. With long-term ambitions of generating over RM12bil in revenue by 2030, the industry is actively scaling up its capabilities and widening its regional reach, according to analysts. Following a recent roundtable dialogue hosted with the Malaysia Healthcare Travel Council (MHTC), MBSB Research issued a report affirming its 'positive' view on the industry's outlook, underpinned by strong public-private collaboration and market diversification. 'All in all, we maintain 'positive' on the medical tourism sector,' said the research house. MBSB Research pointed out that the country's medical tourism sector had evolved into a well-defined and growing ecosystem, coordinated by MHTC, with a clear vision and a multi-agency collaborative approach. The council, under the purview of the Health Ministry, plays a central role in unifying national efforts to position the country as a top-tier healthcare travel destination. While MHTC does not regulate healthcare providers or operate medical facilities, it works closely with 82 private healthcare members and various government ministries – including the Economy Ministry, Tourism, Arts and Culture Ministry, and Finance Ministry to create a seamless experience for international patients. This integrated approach extends from marketing and patient facilitation to economic planning. 'The sector's success is underpinned by a targeted market strategy that actively diversifies by focusing on high-potential regions in Asean, China and the Middle East,' MBSB Research said. This not only mitigates over-reliance on a single market but also capitalises on Malaysia's strengths, such as shared cultural affinity with regional neighbours, according to the research house. Since the pandemic subsided, the country has seen a resurgence in demand for specialised treatments ranging from oncology to orthopaedics. In 2024, Malaysia welcomed 1.52 million medical travellers, generating RM2.72bil in revenue. The figure is expected to rise to RM3bil in 2025, driven by sustained interest in affordable and quality care. 'Malaysia's regulated healthcare environment, international accreditations and competitive pricing provide a significant advantage over regional competitors, establishing 'quality care for your peace of mind' and affordability as its core strengths,' MBSB Research noted. 'The industry is strategically expanding into new healthcare segments, embracing a more holistic model to capture a larger share of the growing global health and wellness market,' the research house added.
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