Medical Technology – Medical Devices

The scientific and measuring equipment industry in Malaysia plays a vital role in healthcare and research by producing laboratory diagnostics platforms and measuring instruments. Technological advancements improve research efficiency, shortening turnaround times and enhancing result accuracy. The industry’s growth is driven by the medical devices sub-sector, boasting over 290 businesses, and hosting top global medical devices corporations. Malaysia stands out as a significant investment destination, particularly for advanced medical devices like implants and smart health monitoring tools.

With a global medical devices market valued at $489 billion in 2021, Malaysia’s domestic medical devices market was projected to reach $2 billion in 2022, driven by a CAGR of 7.5%. The country primarily imports 95 % of its medical devices. The total healthcare expenditure in Malaysia was forecasted to exceed RM69.2 billion in 2021, growing at a CAGR of 7.6% until 2025, demonstrating the nation’s commitment to healthcare reforms and R&D funding. The scientific and measuring equipment industry, valued at $39.4 billion in 2021, is expected to grow at a CAGR of 5.5% from 2022 to 2027, driven by demand for accurate diagnostics and pandemic risk mitigation solutions.

Malaysia’s medical technology landscape is marked by increased R&D spending and innovative solutions. The country’s objective is to become a premier ASEAN medical devices hub, leveraging technologies like additive manufacturing, automation, and IoT. The industry’s exports of manufactured equipment, including medical devices, reached RM63.4 billion, showcasing its robust growth.

In line with global trends, Malaysia’s industry also focuses on ESG practices, with companies adopting sustainable manufacturing and operational practices. As an example, Cochlear Malaysia contributes to a greener future by expanding its manufacturing site powered by 100% renewable energy.

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