The contribution of Malaysia's private health services industry to GDP has shown a consistent but gradual increase from 0.7 units in 2013 to 0.8 units in 2023. Although stability was observed between 2013 to 2018, 2019 marked the beginning of a slight increase that persisted through 2023. In 2024, the industry is forecasted to contribute 0.9 units to GDP, continuing with no variation until 2028. This translates to a 12.5% year-on-year increase for 2024 and maintains stability over the last two years. The forecasted 5-year CAGR and growth rate stand at 0% indicating no expected increase from 2024 to 2028.
Future trends to watch for include changes in domestic health policies, the impact of medical tourism, and advancements in healthcare technology and telemedicine. Furthermore, an aging population may drive demand for private health services.
