Kuala Lumpur, July 4 -- Malaysia's healthcare sector is entering a new phase of rapid expansion, with annual growth projected at around 12% by 2030 and the market to approach 40 billion USD by 2029, up sharply from the approximately 18 billion USD in 2022, according to global strategy consulting firm Frost & Sullivan.
The industry's growth is being driven by four key factors: an ageing population, the rising prevalence of non-communicable diseases (NCDs), the continued expansion of the private healthcare sector, and the accelerated adoption of digital health technologies.
Malaysia is on track to become an ageing nation, with people aged 60 and above expected to account for 15% of the population by 2030 and 21% by 2044. This demographic sh...