Malaysia Elderly Care Market, Product Type (Housing and Assistive Devices, Pharmaceuticals), Service (Homecare, Institutional Care, Adult Day Care), Application (Heart Diseases, Respiratory, Diabetes, Osteoporosis, Cancer, Neurological, Kidney Diseases, Arthritis, Others), Country (Malaysia), Market Trends and Forecast to 2027.
Market Analysis and Insights: Malaysia Elderly Care Market
Malaysia elderly care is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 5.5% in the forecast period of 2020 to 2027 and expected to reach USD 3,830.59 million by 2027. The increasing aging population and the rising awareness of home care services in Malaysia are the main factors for the Malaysia elderly care market growth.
The increase in the number of geriatric population in Malaysia with the increase in the chronic disease cases is the main factor for market growth. According to the census, 2017 World Population Prospects report, in Malaysia the number of persons aged 60 years or older in 2017 was 19.20 million and number of persons aged 60 years or over in 2050 will be 29.31 million.
This elderly care market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Malaysia Elderly Care Market Scope and Market Size
Malaysia elderly care market is segmented on the basis of product type, service and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on the product type, the Malaysia elderly care market is classified into housing and assistive devices and pharmaceuticals. Housing and assistive devices segment is dominating the elderly care market because there is an ever-growing demand of assistive devices in homecare of elderly patients and also an increasing elderly population, especially those who are not capable of self-assistance.
- Based on the service, Malaysia the elderly care market is classified into homecare, institutional care and adult day care. Homecare segment is dominating the elderly care market because this is a service which has been specially made for the elder patients for their wellbeing.
- Based on the application, the Malaysia elderly care market is classified into heart diseases, respiratory, diabetes, osteoporosis, cancer, neurological, kidney diseases, arthritis and others. Heart diseases segment is dominating the growth of the market due to the growing prevalence rate of hyper tension, blood pressure, cardiovascular diseases amongst ageing patients, leading the growth of the market in the coming year.
Strong Investment in Research and Development Activities and New Technology Penetration
Elderly care market also provides you with detailed market analysis for Malaysia in the cases of chronic diseases with rising awareness of home care services and increase in the geriatric population of Malaysia has provided a strong support to the Malaysia elderly care market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Malaysia Elderly care Market Share Analysis
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, geographical presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, concept cars, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Malaysia elderly care market.
The major players covered in the report 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. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many joint ventures and developments are also initiated by the companies worldwide which are also accelerating the Malaysia elderly care market.
- In September 2018, ACG and Eco World Development Group Berhad have joined hands to build the foundational CRAFT Home, which is a semi-furnished housing with age-friendly design. With this collaboration, the company will provide eminent service to its customers.
Partnership, expansion and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for elderly care products for the welfare of the patients
Customization Available: Malaysia Elderly Care Market
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 customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), product under development data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed 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 (Factbook) or can assist you in creating presentations from the data sets available in the report.