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Annual Report 2013
KPJ HEALTHCARE BERHAD
108
Although the bulk of KPJ’s business
today comes from the domestic
market, the Group recognises the
potential of the rapidly expanding
medical tourism market and continues
to implement the necessary measures
to capture a bigger slice of this market
and ensure a pathway to sustainable
growth.
Medical
Tourism
Tremendous
Growth
Potential
Malaysia’s Burgeoning Medical Tourism
Market
Malaysia is today a much sought after
destination for medical tourism given its
cutting-edge facilities and well quali ed
specialists. In its 2014 Global Retirement
Index,
International Living
ranked Malaysia as
No. 3 worldwide destination for its healthcare
system. This is evident from the rising number
of medical tourists that have sought medical
care in Malaysia these last few years. In 2011,
Malaysia played host to some 583,000 medical
tourists and this number rose to 671,000 and
768,000 in 2012 and 2013 respectively. Among
the popular treatment and procedures sought
by medical tourists in 2013 were health
screenings, cardiac procedures, cancer
treatments, orthopaedic procedures and
fertility treatments.
The Malaysian healthcare sector continues
to enjoy strong growth even as catalyst
activities implemented under the Malaysian
Government’s
Economic
Transformation
Programme (ETP) continue to drive this
growth momentum. As one of the 12 National
Key Economic Areas (NKEAs) under the ETP,
the healthcare sector is expected to tap into
private-sector growth to generate between
RM35 billion and RM50 billion in incremental
gross national income (GNI) by 2020. This
growth is expected to come mainly on the
back of pharmaceuticals, medical technology
products and health travel.
Business
Review
Medical Tourism
Revenue from the
Medical Tourism
segment currently
accounts for
4%
of
KPJ’s revenue and the
plan is to grow this
to
25%
of the Group’s
revenues
by 2020.