Medic

Malaysia’s pharmaceutical industry is projected to continue expanding, supported by increasing healthcare expenditure, sustained demand for medicines, demographic changes and the persistent burden of non-communicable diseases (NCDs). Metabolic disorders, cardiovascular diseases and oncology represent important therapeutic areas within pharmaceutical demand, while rising overweight and obesity and the continued need for chronic disease management are expected to support medicine utilisation. The pharmaceutical market is projected to grow at a compound annual growth rate (CAGR) of approximately 8.2%, reaching about USD 4.6 billion by 2030. Continued investment in pharmaceutical innovation, manufacturing capabilities, healthcare accessibility and delivery, and regulatory efficiency will remain important in supporting the continued development of Malaysia’s pharmaceutical sector and maintaining access to pharmaceutical products.

The ASEAN medical device industry experienced notable fluctuations in exports and imports from 2016 to 2025, driven largely by the impact of the COVID-19 pandemic and subsequent market normalisation. Malaysia has established strengths in medical instruments and appliances as well as essential medical consumables, particularly instruments used in medical, surgical, dental or veterinary sciences, rubber gloves and catheters. Malaysia’s medical device market is estimated at approximately USD 3.0 billion in 2023 and USD 3.5 billion in 2025, and is projected to reach approximately USD 5.3 billion by 2030. Overall, the industry outlook remains positive, supported by rising healthcare demand, technological advancement, an established manufacturing ecosystem and government initiatives aimed at strengthening Malaysia’s position in the regional and global medical device industry.

Malaysia is a competitive healthcare travel destination within ASEAN, supported by established healthcare infrastructure, a strong private healthcare sector and comparatively affordable treatment costs. The country recorded approximately 1.84 million healthcare travellers and generated about USD 783 million in healthcare travel revenue in 2025, with healthcare travellers seeking services including health screening, fertility treatment, gastroenterology, oncology, orthopaedics and cardiology. Under Cardas Research’s historical-trend baseline projection, Malaysia’s medical tourism market is projected to reach approximately USD 1.43 billion by 2030. Continued government support, private-sector investment and diversification of international source markets are expected to support the industry’s longer-term development.

Malaysia’s vitamin and dietary supplements (VDS) market is on a steady growth trajectory, with sales projected to reach RM2.2 billion by 2019. This growth is fueled by an expanding middle class and an aging population, both driving demand for health products. Sales for VDS products in Malaysia is predicted to increase to RM2.2 billion by 2019 at a CAGR of 3.47% throughout the next 5 years. However, the rising obesity rates and sedentary lifestyles present challenges, as they increase the prevalence of lifestyle-related diseases. To sustain this positive outlook, the industry should focus on promoting healthy living and the benefits of VDS for overall wellness.