Growing Medical Tourism Coupled with Increasing Diabetic Population in the Country is anticipated to drive the Malaysia Ophthalmology Market: Ken Research
Malaysia News
GURUGRAM, India, July 5, 2021 /PRNewswire/ --
Key Findings
- Consultation Fee for Ophthalmology Services in Public Hospitals in Malaysia is as low as MYR 5, however it starts from MYR 80 in case of Private Ophthalmology Clinics/ Hospitals.
- Number of Patients getting their Second Cataract Eye surgery within the same year accounted for 37.1% of the total Cataract Surgeries in 2020 in the Government Hospitals in Malaysia.
- Low Ophthalmologist to population in the country, i.e. 1 Ophthalmologist for around 51,000 people in Malaysia in 2020.
- Oculoplastic Surgeries growing in Malaysia as a result of more Aesthetic and Cosmetic Awareness among Malaysians.
Growing Number of Insurance Partnerships with Ophthalmology Clinics: Ophthalmology clinics are partnering with Major Insurance Companies or Third Party Administrators to provide Cataract surgery related claims. Health insurance companies provide some financial protection against medical & surgical expenses, which normally includes cataract & other eye diseases, but not refractive error or other eye-related cosmetic surgeries. This has encouraged more number of people to seek Private Medical treatment, subsidized by the insurance companies in Malaysia.
Overcoming Eye Treatment Challenges: Ophthalmologists in Malaysia face multiple Challenges in the Cataract procedure performed manually while creating an opening in the capsular bag. Advancements in Cataract Surgery was done in Malaysia by combining Z8 Femtosecond Laser and the FEMTIS which allowed Cataract Surgery with an unmatched level of precision, more than 5 times than that of the manual processes.
Technological Advancements in Malaysia Ophthalmology Market: Ophthalmology Market in Malaysia is continuously witnessing changes in terms of Technological advancements and developments in detection and diagnosis of multiple eye disorders. Some companies introduced Artificial Intelligence (AI) systems to predict the risk of developing common eye diseases like diabetic retinopathy, ARMD and Glaucoma, to prevent blindness whereas some introduced a neuro rehabilitation software, Vivid Vision, that uses virtual reality (VR) games to help binocular vision disorders such as lazy or squint eye, i.e. treatment of their conditions with the usual therapies. Continuous Developments in the country are helping Malaysia to become the center of Medical Care for Malaysians and Medical Tourists.
Analysts at Ken Research in their latest publication "Malaysia Ophthalmology Market Outlook to 2025- Increase in Ophthalmic Surgeries & Consultations driven by Increasing Ageing Population Proportion and Ophthalmology Technological Advancements" observed that the Ophthalmology Market in Malaysia has been growing over the years as a result of Rising Number of Ophthalmologists, Growing Number of Clinics, Increasing Health Budget and Growth in Prevalence of Non Communicable Diseases such as Hypertension and Diabetes. Malaysia Ophthalmology Market in terms of Number of Consultations and Number of Surgeries is expected to growth with a CAGR of 9.2% and 6.5% in the forecast period 2020-2025.
Key Segments Covered:
1. By Revenue Split
- Consultation
- Surgeries
- Eye Wear
2. Number of Consultations and Consultations Revenue
- By Type of Specialty
- Single Specialty Hospital/Clinic
- Multi Specialty Hospital/Clinic
- By Regions
- Selangor
- Kuala Lumpur
- Johor
- Perak
- Penang
- Others
- By Ailment Type
- Reduced Vision
- Red Eyes
- Eye Strain
- General Check-Ups
- Allergic Reactions
- Deformities of Eye and Eye Lids
- By Type of Clinic/Hospital
- Public Hospitals/Clinics
- Private Hospitals/Clinics
3. Number of Surgeries and Revenue from Surgeries
- Type of Surgeries
- Cataract
- Refractive Error
- Glaucoma
- Retinal Disorders
- Oculoplastic and Eye Lid Surgery
- ARMD
- Others
Malaysia Ophthalmology Market Companies Covered:-
- ISEC Malaysia
- Optimax Eye Specialist
- Tunn Hussein Onn Eye Hospital (THONEH)
- Vista Eye Specialist
- Top Vision Eye Specialist
- Sunway Eye Centre
- KPJ Centre For Sight
- Oasis Eye Specialist
- KL Eye Specialist
- IKONIK Eye Specialist
Key Target Audience:-
- Government and Regulatory Bodies
- Industry Associations
- Single Specialty Eye Clinics and Hospitals
- Multi Specialty Eye Clinics and Hospitals
- Eye Clinics
- Ophthalmologists
- Medical Device Companies
- Ophthalmology Device Instrument Companies
Time Period Captured in the Report:-
- Historical Period: 2015-2020
- Forecast Period: 2021-2025
Key Topics Covered in the Report:-
- Malaysia Ophthalmology Market Overview
- Malaysia Ophthalmology Market Ecosystem
- South East Asian Countries Ophthalmology Market Cross Comparison
- Cross Comparison- Major Ophthalmology Players in Malaysia
- Malaysia Ophthalmology Revenue Streams
- Malaysia Ophthalmology Market Landscape
- Malaysia Ophthalmology Market Size
- Malaysia Ophthalmology Market Segmentations 2020
- Malaysia Ophthalmology Market Growth Drivers
- Malaysia Ophthalmology Market Government Regulations
- Malaysia Ophthalmology Market Trends & Developments
- Malaysia Ophthalmology Issues and Challenges
- Malaysia Ophthalmology Market Major Company Profiles
- Malaysia Ophthalmology Clinic Investment Model
- Malaysia Ophthalmology Market Future Market Size and Segmentations, 2020-2025F
- Covid-19 Impact on Malaysia Ophthalmology Market
- Analyst Recommendations
- Case Studies
- Malaysia Ophthalmology Market
- Malaysia Ophthalmology Consultations
- Malaysia Ophthalmology Market Revenue
- Malaysia Ophthalmology Surgeries
- Malaysia Ophthalmology Surgery Revenue
- Malaysia Ophthalmology Consultation Fee
- Malaysia Ophthalmology Surgery Price
- Malaysia Number of Ophthalmologists
- Malaysia Ophthalmology Hospitals
- Malaysia Ophthalmology Clinics
- Malaysia Ophthalmology Public Hospitals
- Malaysia Ophthalmology Number of Surgeries
- Malaysia Ophthalmology Number of Consultations
- South East Asian Countries Ophthalmology Market
- Indonesia Ophthalmology Market
- Vietnam Ophthalmology Market
- Philippines Ophthalmology Market
- ISEC Malaysia Revenue
- Malaysia Major Eye Ailments
- Malaysia Major Eye Surgeries
- Malaysia Ophthalmology Surgeries
- Selangor Malaysia Eye Clinic
- Kuala Lumpur Malaysia Eye Clinic
- Ophthalmologist per Clinic Malaysia
- Malaysia Ophthalmology Clinic Equipments
- Malaysia Ophthalmology Major Players Market Share
- Sunway Eye Centre Revenue
- Malaysia Ophthalmology COVID Impact
For more information on the research report, refer to below link:-
Related Reports:-
Ophthalmology market has witnessed positive growth in number of consultations, number of surgeries, revenue from consultation and revenue from surgeries in the past five years due to increasing old age population, increasing exposure to electronic devices, increasing diabetic population and increasing air pollution. Many NGOs have taken up the responsibility of spreading awareness about eye health. Eyes Mo, Care Mo celebrated Philippines's first ever National Eye Care Awareness Month that was dedicated to spread awareness about causes and ways to fight eye related issues. Major constraints faced by the ophthalmology market have been high operational cost, difficulty in ease of doing business, complicated government policies and shortage of ophthalmologist. Philippines Ophthalmology Market is growing at promising rate currently placed in growth stage. Government's National Health Insurance program's coverage increased from 75% in 2012 to 93% in 2018 and is expected to increase at a faster rate in future.
Ophthalmology in Thailand is in the growing phase with the presence of more than 220 hospitals and clinics providing ophthalmic care. Number of eye consultations has been increasing at a CAGR of 3.9%, while number of eye surgeries has been growing at 3.3% over 2015-2020. Overall Ophthalmology Market revenues have been growing at a CAGR of 4.9% over 2015-2020. There has been a growth in the number of ophthalmologists in the country, which has stimulated growth in ophthalmology market revenues. There has also been an increase in the number of eye ailments over the years, which has also led to growth in the ophthalmic care market.
Indonesia Ophthalmology Market is currently in the growing stage. The number of single-specialty hospitals is gradually increasing with time. Rapidly rising awareness towards fatal eye diseases, government support extended through health insurance plans and rise in the number of diabetes population have propelled momentum to the market. The rate of cataract surgeries has increased considerably during the review period. The number of eye hospitals in Indonesia has increased at a CAGR of close to 17% during 2013-2018 owing primarily to the higher number of patients for cataract and lens corrective surgeries and with the opening up of more clinics in the untapped regions of Java, Sulawesi and Sumatra. Addition of integrated services such as online booking of inpatients rooms, home-after-operation services and online booking for consultations have complimented the target audience by introducing speediness, variety & dynamism and ease to the daily eye-care regime.
The Vietnam Ophthalmology Market is at a growing stage. The number of hospitals in the Vietnam Ophthalmology Market is gradually increasing over time. In 2018, it has been observed that more number of Single Specialty Eye hospitals in the private sector is opening up and are offering attractive treatment packages, personalized assistance along with the specialized services. Single Specialty Eye Hospitals tend to offer treatment by trained professionals and a one stop solution for all the eye related issues. People have started preferring these over Multi Specialty Hospitals. The number of inpatients has reduced and more number of eye patients has converted into outpatients owing to the technological advancements in conducting eye surgeries.
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