Malaysia's strong ecosystem benefitting medical devices industry - MIDA | Malaysian Investment Development Authority
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Malaysia’s strong ecosystem benefitting medical devices industry

Malaysia’s strong ecosystem benefitting medical devices industry

30 Jun 2021

Malaysia’s medical devices industry has seen tremendous growth in the design and manufacture of world-class products, according to the Malaysia External Trade Development Corporation (MATRADE).

The trade promotion agency said the sector is benefitting from the support of the country’s strong ecosystem in the semi-conductor, machinery and equipment, electrical and electronics, metal stamping and plastics industries, which provide the necessary environment to make it an ideal manufacturing location for medical devices.

In a statement today, MATRADE said in 2020, Malaysia’s export of medical devices saw double-digit growth valued at RM29.99 billion or US$7.16 billion.

Over 90 per cent of medical devices manufactured in Malaysia are exported to its top 10 export destinations comprising the United States (US), Germany, Singapore, Japan, Belgium, China, the Netherlands, Brazil, the United Kingdom (UK) and Australia, it said.

Malaysia’s position as the world’s largest producer and exporter of rubber gloves, which currently accounts for 60 per cent of the world’s market, has paid dividends, allowing the country to expand into other areas of medical consumables, the agency said.

“This includes a variety of other quality medical products such as appliances and apparatus, syringes, sutures, needles, catheters, pace makers and others. Malaysia currently accounts for 80 per cent of the world’s catheter supplies.

“This vibrant and highly innovative sector also supplies higher value-added and technologically advanced products such as cardiac pacemakers, stents, orthopaedic implantable devices, electro-medical, therapeutic and monitoring devices as well as rapid diagnostic test kits,” said MATRADE.

It noted Malaysian companies are currently also producing capnography items, a highly indispensable component of anaesthesia and intensive care monitoring procedures.

MATRADE shared that Malaysian companies are also increasingly undertaking research and development especially in incorporating robotics, automation, integrated processes and Internet of things (IoT) into their manufacturing processes as the country moves towards Industry Revolution 4.0.

“This has resulted in accelerating the pace of innovation and revolutionising product development, manufacturing processes and business models,” it said.

MATRADE said it has been providing assistance by way of ensuring Malaysian companies’ participation in global trade exhibitions such as Arab Health and Europe’s Medica.

It added that extensive virtual meetings have  also been conducted during the  period of restricted movement via its eBizMatch programme between Malaysian suppliers and potential buyers, among them from the US, UK, the Netherlands, United Arab Emirates, South Africa, Hong Kong and Australia.

Source: Bernama