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Malaysia Elderly Care Market – Industry Trends and Forecast to 2029

  • Medical Devices
  • Upcoming Report
  • May 2022
  • Country Level
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Malaysia Elderly Care Market, By Product Type (Pharmaceuticals, Housing and Assistive Devices), Service (Institutional Care, Homecare, Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory, Others) – Industry Trends and Forecast to 2029

Market Analysis and Size

According to the WHO, the senior population in developing countries is predicted to reach approximately 1 billion by 2050, resulting in a significant demand for elder care services and, as a result, boosting the market's scope in the near future. The rise in dementia and Alzheimer's disease among the elderly, as well as the increase in population life expectancy, will present attractive growth potential for the elder care services industry in the coming years. Furthermore, non-profit clinics, independent charitable organizations, and government-sponsored institutions have all contributed significantly to market expansion.

Data Bridge Market Research analyses that the elderly care market which was USD 832.8 billion in 2021, would rocket up to USD 1268.43 billion by 2029, and is expected to undergo a CAGR of 5.40% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Pharmaceuticals, Housing and Assistive Devices), Service (Institutional Care, Homecare, Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory, Others)

Market Players Covered

Koninklijke Philips N.V. (Netherlands), Amedisys (U.S), ECON Healthcare Group (Singapore), Encompass Health Corporation (U.S), EXTENDICARE (Canada), LHC Group, Inc. (U.S), Medtronic (Ireland), ORPEA GROUPE (France), Prolifico (U.S), ElderCareCanada (Canada), Exceptional Living Centers (U.S), Right at Home, LLC (U.S), BAYADA Home Health Care (U.S), United Medicare Pte Ltd (Singapore), Trinity Health (U.S), Rosewood Care Group (U.S), ST LUKE'S ELDERCARE LTD (Singapore)

Market Opportunities

  • Demand for care services has increased.
  • Need for aged care services grows.

Market Definition

Elderly care , which involves satisfying all of the needs of senior individuals at various times, is referred to as elderly care. It covers products and services that make daily tasks for senior citizens simple and straightforward. The demand for elderly care grows as individuals get older, as they require physical and mental support to live a productive, healthy, and independent life. Assisted living, adult day care, long-term care, short-term care, hospice, and home care are all examples of eldercare services.

Elderly Care Market Dynamics

Drivers

  • Increasing geriatric population

The proportion of elderly persons (those aged 60 and up) is rising over the world. The older population has increased health difficulties, and home healthcare services can help patients get better treatment. As a result, the increase in the geriatric population is assisting in the growth of the senior care industry.

  • Growing cases of chronic disease

Chronic diseases such as diabetes, cardiovascular disease, obesity, cancer, osteoporosis, and dental disease have become more prevalent over the world. These diseases can be avoided with the right therapy, food, and nutrition, as well as medical advice. However, in recent years, therapy can be obtained while sitting at home with the help of home healthcare services, obviating the need to attend a hospital.

  • Rising awareness regarding elderly care

The need for home care services, adult care services, and other services will rise as people throughout the world become more aware of them. The demand for elderly care is expanding due to the rapid increase in the elderly population, and the market's growth will be fueled by the growing demand for elderly care services and goods.

Opportunities

  • Increasing market trend towards elderly care services

The growing older population drives the demand for aged care services. The demand for care services has increased as the economy and social environment have changed. The old population is expanding, putting pressure on the younger generation to care for elderly family members while also working. As a result, the need for aged care services grows. There are two types of services: short-term and long-term. Short-term services assist with daily activities, whilst long-term services concentrate on residential facilities. Medical support and day care are required for long-term service.

Restraints/Challenges

  • High cost of Elderly Care services

Long-term eldercare services are preferred over short-term eldercare services. The family finds it difficult to take use of services and products due to their high cost. The cost of elder care is increasing as people get older.

This elderly care market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the elderly care market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Elderly Care Market

The COVID-19 has had an impact on the market to some level, with Malaysia being the most affected region due to the elderly and elderly population's low immunity to the virus. The entrance of the elderly was halted as a result of the lockdown, and demand for health care services also reduced, affecting the market. Due to changes in rising preventive measures, changes in the rules, and other factors, the need for aged care has increased post-COVID.

Recent Development

 In its spring 2020 Hospital Safety Scores report, The Leapfrog Group honoured 13 Trinity Health hospitals with "A" grades, the best attainable for patient safety. This award will help to improve the organization's market reputation, increase revenue, and strengthen the aged care industry.

 According to TechCrunch, Webrock Ventures and Helathforce will collaborate to deliver telehealth goods in South Africa in June 2021. The new company has yet to be named, but its major goal is to provide patients with on-demand and planned consultations with nurses, mental health specialists, and practitioners.

Malaysia Elderly Care Market Scope

The elderly care market is segmented on the basis of type, service and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Pharmaceuticals
  • Housing and assistive devices

Service

  • Institutional Care
  • Homecare
  • Adult Day Care

Application

  • Heart Diseases
  • Cancer
  • Kidney Diseases
  • Diabetes
  • Arthritis
  • Osteoporosis
  • Neurological
  • Respiratory
  • Others

Competitive Landscape and Elderly care Market Share Analysis

The elderly care market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to elderly care market.

Some of the major players operating in the elderly care market are:

  • Koninklijke Philips N.V. (Netherlands)
  • Amedisys (U.S)
  • ECON Healthcare Group (Singapore)
  • Encompass Health Corporation (U.S)
  • EXTENDICARE (Canada)
  • LHC Group, Inc. (U.S)
  • Medtronic (Ireland)
  • ORPEA GROUPE (France)
  • Prolifico (U.S)
  • ElderCareCanada (Canada)
  • Exceptional Living Centers (U.S)
  • Right at Home, LLC (U.S)
  • BAYADA Home Health Care (U.S)
  • United Medicare Pte Ltd (Singapore)
  • Trinity Health (U.S)
  • Rosewood Care Group (U.S)
  • ST LUKE'S ELDERCARE LTD (Singapore)


SKU-

TABLE 1 MALAYSIA ELDERLY CARE MARKET, OLD AGE POPULATION DATA (2019-2022)

TABLE 2 MALAYSIA ELDERLY CARE MARKET, OLD AGE POPULATION DATA (2019-2022)

TABLE 3 MALAYSIA ELDERLY CARE MARKET, OLD AGE POPULATION DATA (2019-2022)

TABLE 4 MALAYSIA ELDERLY CARE MARKET, OLD AGE POPULATION DATA (2019-2022)

TABLE 5 MALAYSIA ELDERLY CARE MARKET, PIPELINE FACILITIES

TABLE 6 MALAYSIA ELDERLY CARE MARKET, ASSOCIATIONS

TABLE 7 MALAYSIA ELDERLY CARE MARKET, OCCUPANCY RATE

TABLE 8 MALAYSIA ELDERLY CARE MARKET, OCCUPANCY RATE

TABLE 9 INTERNET USAGE IN ASIA (IN 2019)

TABLE 10 COUNTRIES WITH EXPECTED ELDERLY POPULATION

TABLE 11 TOP AGING COUNTRIES BY RANK, ASIA, 2018

TABLE 12 ANNUAL COST OF LONG TERM CARE SERVICES WITH CAGR OF 3.0%, 2017

TABLE 13 THAILAND ELDER CARE SERVICES WITH COMPOUND ANNUAL GROWTH RATE (UNIT-% 5 YEAR CAGR)

TABLE 14 MALAYSIA ELDERLY CARE MARKET, BY PRODUCT TYPE, 2018-2027 (USD MILLION)

TABLE 15 MALAYSIA ELDERLY CARE MARKET BY SERVICE, 2018-2027 (USD MILLION)

TABLE 16 MALAYSIA HOMECARE IN ELDERLY CARE MARKET, BY SERVICE TYPE, 2018-2027 (USD MILLION)

TABLE 17 MALAYSIA HEALTHCARE IN ELDERLY CARE MARKET, BY SERVICE TYPE, 2018-2027 (USD MILLION)

TABLE 18 MALAYSIA NON-MEDICAL CARE IN ELDERLY CARE MARKET, BY SERVICE TYPE, 2018-2027 (USD MILLION)

TABLE 19 MALAYSIA INSTITUTIONAL CARE IN ELDERLY CARE MARKET, BY SERVICE TYPE, 2018-2027 (USD MILLION)

TABLE 20 MALAYSIA INSTITUTIONAL CARE IN ELDERLY CARE MARKET, BY OPERATED ELDERCARE FACILITIES, 2018-2027 (USD MILLION)

TABLE 21 MALAYSIA ELDERLY CARE MARKET, BY APPLICATION, 2018-2027 (USD MILLION)

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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Malaysia Elderly Care Market value is expected USD 1268.43 billion by 2029.
The Malaysia Elderly Care Market is projected to grow at a CAGR of 5.40% during the forecast period of 2022-2029.
The Malaysia Elderly Care Market segmented by Application such as Heart Diseases, Respiratory, Diabetes, Osteoporosis, Cancer, Neurological, Kidney Diseases, Arthritis, Others.
The major players covered in the Malaysia Elderly Care Market are Koninklijke Philips N.V., Metro Eldercare Sdn Bhd, Homage, Noble care, Aged Care Group Sdn Bhd, Medtronic, Econ Healthcare Group, Care Concierge, Lyc Senior Living Sdn Bhd and Ig Care Centre.
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