The medical device market in Malaysia is estimated to be US$1.4 billion, with a projected growth rate of 16.1%. The pharmaceutical market is also a considerable size, estimated to be US$3.6 billion, with a growth rate of 9.5%. In recent years, Malaysia has made efforts to improve access to medical care to the population, as rising incomes in the middle class create a demand for more accurate diagnostic equipment and medical devices to diagnose and treat chronic conditions. The Malaysian Investment Development Authority (MIDA) identified the medical device sector as a high growth sector under the Eleventh Malaysia Plan, in effect 2016-2020. This designation has led to policies aimed to increase investment in the medical manufacturing industry.
The medical device industry is currently dominated by companies that manufacture medical gloves and other disposable products. Currently 90% of the medical devices manufactured in Malaysia are exported; Malaysia supplies 60% of the world market for rubber gloves, and 80% of the world market for catheters.
Malaysia heavily relies on foreign imports, making it a competitive market for most medical device manufacturers.
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Asia Actual is available to help navigate the complex medical device registration requirements and regulatory pathways for medical device and IVD distribution in Malaysia.
Contact Asia Actual for a free consultation discussing the potential for your medical device or IVD in the Malaysia medical device market.