Industry Report Healthcare

Healthcare spending is predicted to grow at a 5.2% compound annual growth rate by 2028, remaining at 4% of GDP. Public healthcare spending is expected to increase at a faster rate than private/voluntary spending. The government allocated M$32.4bn to healthcare in 2022, which increased to M$36.3bn in 2023 under Prime Minister Anwar Ibrahim. The 2024 budget saw a 13% surge to M$41.2bn, the highest since 2014. The new administration plans to improve healthcare infrastructure and support treatment in various hospitals. The mySalam insurance scheme, launched in 2019, covers nearly 4 million people in the bottom 40% income group for various illnesses, including COVID-19.