Boston, MA -- (SBWIRE) -- 08/07/2013 -- Malaysia's pharmaceuticals and healthcare market has strong growth potential. Following general elections in May 2013, the new Health Minister, Datuk Seri Dr S Subramaniam, has announced a government commitment to raising Malaysian's awareness of non-communicable diseases, and has announced plans to review healthcare programmes, to ensure their effectiveness. Other changes ahead affect pricing and reimbursement, with discussions under way to revise the current price structure. In the private sector, interest in Malaysia's potential as a destination for medical tourism is growing, with more than one healthcare provider announcing plans to construct new facilities in the country. Malaysia is also a regional leader in terms of halal drugs, with the introduction of a halal certification for medicines a regional first.

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Headline Expenditure Projections

- Pharmaceuticals: MYR6.06bn (US$1.96bn) in 2012 to MYR6.5bn (US$2.22bn) in 2013; +7.9% in local currency and +12.9% in US dollars. Forecast broadly unchanged from Q213.
- Healthcare: MYR33.74bn (US$10.92bn) in 2012 to MYR36.91bn (US$12.51bn) in 2013; +9.4% in local currency and +14.5% in US dollars. Forecast lowered from Q213.

Risk/Reward Rating: In Q313, Malaysia's Pharmaceutical Risk/Reward Rating (RRR) stood at 60.2. It posts above average scores for every indicator in the Asia Pacific region, and ranks eight out of 18 markets.

Key Trends And Developments

- In May 2013, Pharmaniaga acquired 100% of Errita Pharma, a private firm in Indonesia that produces generic pharmaceutical products. Pharmaniaga aims to expand in Middle Eastern and South East Asian markets through the move.
- Several firms have announced plans to expand private healthcare facilities. These include a joint-venture formed by Sime Darby and Australia's Ramsay Health Care to construct six hospitals; and KPJ Healthcare's plans to spend MYR763mn over three years to build five hospitals.
- Chemical Company of Malaysia has announced it is confident it will reach its FY23 sales target of MYR300mn (US$98.84mn), with five product launches planned for 2013 boosting sales.

BMI Economic View: Following general elections, celebrated in May 2013, we expect that investment activity will rebound. We expect that domestic demand will remain resilient throughout the year and will drive economic growth in 2013 and into 2014.

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