The healthcare industry was identified as one of the key economic drivers under the National Key Economic Areas to drive the country’s economy for the next two decades. In-line with the national agenda, Johor aspires to develop a seamless and integrated healthcare system that will elevate the state to become the preferred healthcare destination in the region. A key factor behind the rise of the industry was the changing demographic trends. In recent time, higher longevity levels, rise in the incidence of lifestyle diseases (e.g. chronic diseases, non-communicable diseases, and urban diseases) and rise in health consciousness are driving the demand for better healthcare services to be provided in the region. Healthcare services expenditure in Malaysia is expected to increase to US$20 billion by 2020 according to an analysis by Frost & Sullivan.
Apart from the traditional and conventional healthcare services, Iskandar Malaysia witnessed some interesting development in the healthcare industry. For instance, some property developments were recalibrated towards providing integrated healthcare services (Rowsley’s Vantage Bay healthcare city). In addition, Iskandar Malaysia is also committed to creating hallmark services that will turn the region into an ASEAN regional hub for medical tourism, tapping into the huge market within the ASEAN community (estimated population of 600 million). Iskandar Malaysia is also capable of offering premium healthcare services at competitive costs vis-à-vis other developed cities in the region such as Kuala Lumpur and Singapore.
Table: Specialist Hospitals in Iskandar Malaysia
Comparative Medical Costs for Selected Procedures (2012)
Healthcare Investment Opportunities in Johor