Malaysia Ophthalmology Total Revenue for the period (2015-20) CAGR of 7.7%. Will Malaysia be able to grow further?:- Ken Research

 1. Specialization of the Doctor along with the location of the Clinic/Hospitals are the major factors while deciding on the Clinic for Ophthalmology.

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• 5%-10% of the eye consultations turning to eye surgeries.
• The surgery fee varied from MYR 2,000 to MYR 10,000 depending on the type of surgery. Length of Stay is generally up to 23 Hours. A patient visits clinic 1-2 times before the surgery and 1 visit post-surgery (generally included in package).
• Doctor Specialization and Experience is the major parameter a Patient takes into consideration while making an appointment with an Ophthalmologist. Specialization in required surgeries builds confidence in the Patient to get their Treatment from that doctor. For ex: Some Clinics have Vitreoretinal Surgeons, Refractive Surgeons etc.
• Hospitals with Strong Brand Name in Eye Care Services attracts Patients. Services such as shorter waiting time Availability of Ophthalmologists, Operating Area, Operating Hours, Pre-Surgery Test Facilities etc. helps the Patients to identify the best Clinic as per their convenience.
• Before taking an appointment with a New Ophthalmology Clinic, Service Portfolio is analyzed basis multiple Consultations and Surgeries the clinic offers. For Ex: Some Clinic Offers RELEX SMILE while others are also offering FEMTO-LASIK.
• Location of a Clinic/ Hospital from the Patient’s location is equally important. For Consultations a Patient takes Appointment in the Clinic closer to the place, however for Surgeries locations of the Doctor with Specialization is selected.
• Surgery Price Package is analyzed before making decision for the Surgery. Package of the Surgery generally include Pre & Post Surgery Appointments with the Doctor and Required Tests to conduct before the surgery.

2. Increasing No. of Private Insurance Players & Coverage Premiums for Ophthalmology cases.

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• Increase in Private Insurance coverage encourages more people to seek private medical services, including ophthalmology related medical procedures that are subsidized by insurance.
• Ophthalmology clinics are in partner with Major Insurance Companies to provide Cataract surgery related claims. For instance: ISEC has partnered with some Insurance companies and 3^rd Party Administrators to ease down the claim process. Major insurance companies include AIA, Prudential BSN Takaful, eTiQa Archipelago Insurance etc.
• Health insurance provides some financial protection against medical & surgical expenses, which normally includes cataract & other eye diseases, but not refractive error & other eye-related cosmetic surgeries.

For more insights on the market intelligence, refer to the link below:-

Malaysia Ophthalmology Market

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Due to COVID-19, the Malaysian Ophthalmology Market Revenue declined by 7.3% in 2020. Will Malaysia be able to recover the lost revenue? Ken Research

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1. With population of 31.9 Mn, Malaysia has 1 Ophthalmologist per 50,000 people

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• There is a dire need of more sophisticated ophthalmologist clinics
• More technological advancement in services provided for ophthalmologist
• Creating awareness regarding ophthalmologist’s need
• More numbers of ophthalmologist’s.

2. Growing Ageing Population proportion increased Number of Eye related clinics across Different Regions

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• Proportion of Population >50 Years

• 27%: Central Region, majorly include Kuala Lumpur Selangor, Negeri Sembilan
• 26%: Northern Region, Major Locations being Pulau Pinang, Kedah Perlis & Perak
• 16%: Southern Region, majorly Melaka and Johor
• 14%: Eastern Region, Majorly include Kelantan, Pahang, Terengganu

Growing Ageing Population proportion across Different Regions resulting in increased Number of Eye related Patients in majorly Selangor and Kuala Lumpur

3. National Eye Database Malaysia has been significant in estimating the vastness of problems related to eye-sight.

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• National Eye Survey, a population based eye survey to be conducted by the Ophthalmology Service of the Ministry of Health (MOH) in collaboration with the Institute of Public Health (IPH) and Clinical Research Centre (CRC) of the MOH.
• Objective of the survey is to estimate the prevalence of blindness & low vision among Malaysians (50 years and older), to assess cataract surgery coverage & identify barriers to access cataract surgery service in the country.

Malaysia Ophthalmology Market Industry Share, Growth Rate, Business Challenges, Demand and Forecast: Ken Research

 

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Growing Medical Tourism Coupled with Increasing Diabetic Population in the Country is anticipated to drive the Malaysia Ophthalmology Market: Ken Research

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

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• 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

For more information on the research report, refer to below link:

Malaysia Ophthalmology Market: Ken Research

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