The healthcare industry has become a powerful engine of economic growth, due to demographic shifts such as extended longevity and a rise in lifestyle diseases such as hypertension and cardiovascular ailments and diabetes. Malaysia's spending on healthcare, at 5% of GDP, is above our regional peers, and public spending is a disproportionate contributor to healthcare costs. Currently, the sector contributes to RM15 billion (USD4.2 billion) in GNI.
There are 13 Entry Point Projects (EPPs), and 2 Business Opportunities.
The Healthcare NKEA has identified two longer term business opportunities, both of which could deliver significant economic benefits but are still in very early stages of growth. The first, med tech contract manufacturing is organically mushrooming, but the market remains fragmented and we do not have enough information to understand how this segment can be enabled further. The second, seniors living, addresses the outpatient and community-based care needs for the elderly, but is still a novel concept in Malaysia.
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