PhAMA members form part of the private healthcare sector within the healthcare eco-system that offers healthcare services and treatments to the Malaysian population. 

In the next 15 years, the private healthcare sector is expected to serve up to 226 million patients, while providing over 250,000 employment opportunities. Additionally, the sector is also expected to spur Malaysia’s medical tourism industry, with a contribution of 31 billion by 2037.

As of 2022, it was estimated to have contributed MYR27 billion to the national economy, serving 13 million patients and providing 150,000 employment opportunities. By 2037, the sector has projected contributions of up to RM756 billion in revenue, with growth at ~6% CAGR, driven by economic growth and improvement in healthcare policies / infrastructure. The industry is also a vital component of Malaysia’s medical tourism industry, with projected contribution of MYR31 billion by 2037.

PhAMA members have been strong contributors to the Biopharmaceutical innovation and life sciences through clinical research, which are not just economic opportunities but also essential pillars of national progress. Today, Malaysia is not just participating in the global clinical research landscape, but is also shaping its future. The “Rethinking Clinical Trial Country Prioritization 2024” report recognises Malaysia as among the top 30 global countries and the leader in Southeast Asia for global clinical trial readiness.

Over the decades, the industry continues striving for improved access to medicines through Patient Access Schemes (PASc) that provides eligible patients with financial assistance for their medications, expediting registration timelines for new medicines, Continuing Medical Education (CME) that trains healthcare professionals on the latest advancements in medicine and disease, and advocating for the national health budget to be increased to 5% of the country’s GDP.

Post-COVID19 pandemic, the industry plays an increasingly critical role in activating Public-Private Partnerships to support the government towards disease prevention, value-based healthcare and medicine security.