Malaysia’s aspiration to push HealthTech to the forefront will provide myriad opportunities to innovative domestic and foreign companies, according to GlobalData, a leading data and analytics company.
Through supportive government policies and investment initiatives, Malaysia offers conducive business environment to the HealthTech sector. However, shortage of skilled staff, advanced equipment and facilities are some of the challenges that the nation should overcome to provide better access to healthcare.
Pooja Srivastava, Healthcare Analyst at GlobalData, comments: “Malaysia is considering collaboration as a key to address the current healthcare challenges it is facing and to drive its HealthTech market forward. This offers strategic partnering and distribution opportunities to foreign firms with a global outlook, and a ground for investment for both domestic and foreign startups.”
GlobalData’s report, ‘CountryFocus: Healthcare, Regulatory and Reimbursement Landscape – Malaysia’, reveals that mergers and acquisitions (M&A) was the most frequently performed deal type between 2018 and 2019 in HealthTech. The total value of M&A deals was US$42m, whereas the total value of venture financing deals was US$2m during the period.
Srivastava concludes: “Through increased collaboration opportunities with companies in Malaysia, foreign HealthTech companies will gain greater understanding of the Malaysian healthcare market. This will help in developing innovative smart technology solutions that bring a paradigm shift in Malaysian healthcare market.”