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

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

PR Newswire

GURUGRAM, India, July 5, 2021

Malaysia News

GURUGRAM, India, July 5, 2021 /PRNewswire/ --

Key Findings

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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

     2.    Number of Consultations and Consultations Revenue

       3.    Number of Surgeries and Revenue from Surgeries

Malaysia Ophthalmology Market Companies Covered:-

Key Target Audience:-

Time Period Captured in the Report:-

Key Topics Covered in the Report:-

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

Malaysia Ophthalmology Market

Related Reports:-

Philippines Ophthalmology (Eye Centers, Clinics and Hospital Chains) Market Outlook to 2023 - Investment Potential by Region and by Ailment Type (Cataract Surgery, Glaucoma Surgery, Refractive Error Surgery, Other Retina Related Surgeries and Others), Lasik & Aesthetics Centers

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.

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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 Outlook to 2023 - By Ailment Type (Cataract, Myopia, Glaucoma, Conjunctivitis and Others) and by Regions (DKI Jakarta, West Java, Central Java, North Sumatra and Others)

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.

Vietnam Ophthalmology Market Outlook to 2023 - By Diseases (Cataract, Myopia, Glaucoma, Retina related Diseases, Blindness with Poor Eyesight, Conjunctivitis and Others), By Regions and By Hospitals (Single Specialty Eye Hospitals and Multi Specialty Hospitals)

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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