The medical device industry is one of the “3+2” high-growth sub-sectors identified in the eleventh Malaysia plan, and will continue to be promoted in the new Malaysian industrial master plan. This is an important growth area, which is expected to reinvigorate Malaysia’s economic structure, especially the manufacturing industry, through the production of high-complexity, high-tech and high-value-added products.
Up to now, there are more than 200 manufacturers in Malaysia, producing a variety of products and equipment for medical, dental surgery, optics and general health purposes. Malaysia is the world’s leading producer and exporter of catheters, surgical and examination gloves, supplying 80% of catheters and 60% of rubber gloves (including medical gloves) worldwide.
Under the close supervision of the Medical Device Administration (MDA) under the Ministry of Health of Malaysia (MOH), most of the local medical device manufacturers in Malaysia comply with ISO 13485 standards and the US FDA 21 CFR Part 820 standards, and can produce CE-marked product. This is a global requirement, because more than 90% of the country’s medical devices are for export markets.
The trade performance of the Malaysian medical device industry has grown steadily. In 2018, it exceeded the 20 billion ringgit export volume for the first time in history, reaching 23 billion ringgit, and will continue to reach 23.9 billion ringgit in 2019. Even in the face of the global new crown epidemic in 2020, the industry continues to develop steadily. In 2020, exports have reached 29.9 billion ringgit.
Investors are also paying more and more attention to the attractiveness of Malaysia as an investment destination, especially as an outsourcing destination and a medical device manufacturing center within ASEAN. In 2020, the Malaysian Investment Development Authority (MIDA) approved a total of 51 related projects with a total investment of 6.1 billion ringgit, of which 35.9% or 2.2 billion ringgit was invested overseas.
Despite the current global epidemic of COVID-19, the medical device industry is expected to continue to expand strongly. Malaysia’s industry market can benefit from the government’s continued commitment, growing public health expenditures, and the expansion of private sector medical facilities supported by the medical tourism industry, thereby making great progress. Malaysia’s unique strategic location and consistently excellent business environment will ensure that it continues to attract multinational investment.
Post time: Dec-07-2021
