MALAYSIA MEDICAL DEVICE MARKET

Robust development of Malaysia Medical Device Market is driven by the growing income among the middle class, increasing demand for reliable diagnostic equipment, the nation’s aging demographic, and the government initiatives to enhance accessibility to healthcare services for the population.

Major Malaysia Medical Device Market Drivers and Emerging Trends

Government has made investment and launched several efforts to modernize healthcare infrastructure, including healthcare facilities, medical equipment, and supplies, with an expanded healthcare budget which further propels the growth of Malaysia medical device market. Furthermore, with the New Industrial Master Plan 2030, the country aims to support the growth of local manufacturing capabilities across various sectors, including the production of medical devices. Despite efforts to boost local production, Malaysia will still heavily rely on imported dental and orthopedic items, because these product categories do not contribute significantly to the total value of medical devices exports, highlighting robust market demand from the US, Japan, and Mainland China.

 Malaysia’s heavy reliance on imported goods has also made it a lucrative market within the medical device manufacturing sector. Companies focusing on medical gloves and similar disposable items dominate the medical equipment industry, as Malaysia exports 90 percent of the medical devices it manufactures. The country supplies 60 percent of the global rubber glove market and 80 percent of the global catheter market. In addition, the Malaysian Investment Development Authority designated the medical equipment sector as an area with significant growth potential in the Eleventh Malaysia Plan, which further prompted the implementation of policies to promote investment in healthcare equipment manufacturing.

This is creating opportunities for foreign investments in the country, as the industry of medical devices in Malaysia is on track for development and growth with established and internationally recognized healthcare system. The World Health Organization has praised healthcare system in Malaysia for its sustainability which is affordable and readily accessible for everyone with contributions from both private and public sectors. The government underscores its commitment to the health and welfare of the population as outlined in the core objectives of the Twelfth Malaysia Plan until the year of 2025, which the nation plans to initiate medium and long–term reforms within the healthcare sector, while progressively increase annual spending to sustain a high-quality medical system. Building a manufacturing facility in the country presents an ideal opportunity to access the growing healthcare market in Asia Pacific. The projection for the next several years suggests that Asia will be home to more than sixty percent of the global population, including a substantial demographic of people aged 60 and above. With increasing priority given to wellness fueled by the demand of an aging demographic and unexpected circumstances such as the covid pandemic, there is a continuous upward trend in the demand for healthcare equipment and consumables such as rubber gloves, test kits, among others. The transition towards home care facilitated by the use of portable medical equipment becomes another factor that will further foster the expansion of Malaysia medical device market.

However, quality control, supply chain disruptions, and regulatory compliance can further hinder the growth of medical device market in Malaysia. In registering a medical device for commercial distribution in Malaysia, it is mandatory for manufacturers to contract with a conformity assessment body approved by the Medical Device Authority to evaluate and authorize the registration submission. Additionally, importers and manufacturers must also acquire the “establishment license” to ensure legal compliance when selling medical equipment in Malaysia. It is also mandatory for manufacturers without local operations in the country to appoint an authorized representative responsible for handling the registration procedure and acting as the manufacturer’s official representative in all aspects of the device’s approval process.

Segments covered in the Report:

The Malaysia Medical Devices Market has been segmented on the basis of Type of Device and End-User. Based on the Type of Device, the market is segmented into Respiratory Devices, Cardiology Devices, Orthopedic Devices, Diagnostic Imaging Devices (Radiology Devices), Endoscopy Devices, Ophthalmology Devices, Other Devices. Based on the End-User, the market is segmented into Hospital & Ambulatory Surgical Center, Clinics, Others.

Market Segmentation

Malaysia Medical Devices Market by Type of Device

• • Respiratory Devices
  • Cardiology Devices
  • Orthopedic Devices
  • Diagnostic Imaging Devices (Radiology Devices)
  • Endoscopy Devices
  • Ophthalmology Devices
  • Other Devices

Malaysia Medical Devices Market by End-User

• • Hospital & Ambulatory Surgical Center
  • Clinics
  • Others