2 August 2017, Kuala Lumpur – Launched at the Malaysian Investment Development Authority (MIDA) HQ today, the AMMI Medical Device Industry Outlook Report 2017 highlighted that AMMI recorded an outstanding value-added ratio of 57% in manufacturing medical devices in Malaysia. Equally impressive is the fact that some RM2.84 billion or 63% worth of raw materials and services were locally sourced from within the country. This reflects AMMI’s commitment in supporting government initiatives to develop local small and medium-sized enterprises (SMEs).
The Report also highlighted that over 70% of AMMI members surveyed are expected to invest a total of RM1.4 billion in the country in 2017 - a strong signal by way of investor confidence in the Malaysia.
The total value of cumulative investments reported by respondents to the association's survey stood at RM6.04 billion, as at December 2016. The value of its cumulative investments grew by a 17.1% compound annual growth rate (CAGR) between 2012 and 2016.
AMMI Chairman, Hitendra Joshi stated that its members’ collective exports last year rose by 17% to hit RM9.7 billion and this figure represents over half of Malaysia's total exports of medical devices in 2016. Malaysia’s medical device exports is expected to reach RM17.7 billion by 2017.
“The presence of many MNCs such as B. Braun Medical (Germany), Abbott (USA), Haemonetics (USA), Teleflex Medical (USA), CR Bard (USA), Johnson & Johnson Vision (USA), CIBA Vision (Switzerland), Ambu (Denmark), ITL BioMedical (Australia), Medipro (Japan) and Toshiba Medical Systems (Japan) has contributed to the development of a comprehensive local supply chain benefitting many local players. Most of these local companies have acquired advanced technology and knowledge to meet the requirements of international standards. These include companies providing services to MNCs such as UWC, Sin Yong Guan Industries, Epsilon, Professional Tools & Dies and Zeito Plastic Components,” says YBhg Dato’ Azman Mahmud, Chief Executive Officer of MIDA during the launch of the report.
“While the medical device industry sees a bright future ahead, emerging challenges such as digitalisation, consumer empowerment and new competitors are fast reshaping its overall landscape. In addition, the pace of innovation in this industry will also continue to accelerate due to the country’s movement towards Industry 4.0. Industry players therefore, must be willing to shift their mindset, embrace technology, adopt R&D and keep innovating,” added Dato’ Azman.
Malaysia continues to evolve as a hub for medical device manufacturing, with over 200 medical device manufacturing companies thriving within a well-connected industry eco-system. Medical devices produced in Malaysia are of world-class quality and recognised for its adherence to international standards as well as global regulatory compliance systems. This is backed by the fact that over 90% of medical devices manufactured are for export. In 2016, exports of Malaysian made medical devices were valued at RM15.8 billion.
Formed in 1989, the Association of Malaysian Medical Industries (AMMI), represents leading medical device manufacturing companies in the medical technology industry in Malaysia. AMMI currently has 63 member companies and collectively, they account for more than half of the total export revenue for “Made-in-Malaysia” medical devices.
AMMI members share a common commitment to quality and are reputable international and local firms that strictly adhere to the quality management system codes laid down by governmental agencies. AMMI companies continue to be the growth base of the medical device industry in Malaysia and consist of three main types of industry players: manufacturers; suppliers of raw materials and services to the medical devices manufacturing companies; and importers and exporters of medical devices, all of whom employ a sizable workforce in their production facilities.
Association of Malaysian Medical Industries
Email : email@example.com
Ms. Melissa Khoo
Head of Marketing and Communications
Tel : 016 4224 818
Mr. Ching Choon Siong
Tel : 012 4766 558
MIDA is the government's principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 23 overseas offices. This year as the organisation celebrates its 50th anniversary, MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter and Facebook.