Medical Products Marketing in Malaysia
The Malaysian healthcare sector is currently valued at nearly $900 million and is expected to grow to $1.2 billion by 2005. The healthcare sector, which includes pharmaceuticals and medical devices, has grown at an annual rate of 6%. In 2000, pharmaceutical products sales were $344 million. Private sector spending for healthcare is on the upswing in Malaysia – a trend that coincides with rapid development and higher living standards among Malaysians. The government-to-private-spending ratio between 1995 and 2000 was 25:75. With a population of 22 million, Malaysia is poised to become an important market for international medical products companies.
The Malaysian Health Ministry along with Medical Online Sdn. Bhd. has embarked on an online telehealth program with the ambitious plan to provide every Malaysian with his or her own confidential electronic lifetime health record and personalized lifetime health plan. This application is accessible at www.telehealth.com.my. The Malaysian Health Ministry has also launched a health portal for both consumers and clinicians which provides health-related information, continuing education and the ability for doctors to make remote diagnosis and referrals via the tele-consultation system. The web site for this application is www.mcphie.com.my. Malaysia is also instituting the nation's first dental health insurance scheme, which now has approximately 40,000 enrollees nationwide.